Oil hits $70

[Autobeat]

you guys are still lucky with less than P40/lit gasoline...here in UK, diesel cost P88/lit. and gasoline cost P85/lit. and nobody is complaining.

Interesting. Also, gas there is cheaper pala than diesel. Why is that? Are they discouraging diesel vehicles there?

[oldblue]

Kasalanan yan ng mga speculators. May supply naman e. Mataas naman inventory sa States. Wala naman oil producer na nag-cut production. Puro CONCERNS lang... concern about Iran, concern about Nigeria.

gone are the days of integrity. nowadays, even yun mga opisyal sa ibang bansa nagreresort na sa ganyan para lang mag-speculate sa mga oil investments. sobrang materyoso na lahat ng tao even from the developed ones.


never did believe the old news before that oil in the oil field is becoming scarce. speculation pa din ...

[explorer]

bro, magkano naman ng sweldo ng tao dyan compared sa pinas.

no, it's not because people here earn more money than in the philippines. remember that cost of living is also very high. everything is taxed and VAT is 17%. you even have to pay £125/yr (P11,000/year) for just license to use a TV (unlicensed tv is a crime). the very reason why people here are not complaining about the high fuel prices is...most of their cars are fuel-efficient. my 8 yo car (1.7L diesel) can still run at 17km/lit...if you compare that to a car with the same engine size, what do you get there, 8km/lit? i think people here have learned how to live in a country with a very expensive fuel.

[explorer]

Interesting. Also, gas there is cheaper pala than diesel. Why is that? Are they discouraging diesel vehicles there?

diesel cars are becoming more popular here not only in UK but also in europe. 40% of the cars sold have diesel engines. even the japanese cars like honda civic and crv have diesel engines. i really don't know the real reason for the higher price than gasoline, but the reason why diesel cars are popular here is the fuel efficiency (vs. the gasoline) in a long range driving.

[niwde11]

* explorer. yup, taas kasi standard of living dyan kaya taas din lahat. parang ganito, aaangal ka ba kung ang bottled water sa disneyland is almost twice(cost) outside of it? depende talaga sa lugar yan. sabi ka nung isang US based tsikoteer, sana pag sa pinas sya naassign for good e sweldo nya tulad pa rin ng sa US, mabilis pa sya sa kay kal-el pupunta dito. tinitingnan din kasi ng oil companies kung financially viable ang cost ng oil for a particular place. pag nag 80 dito langis ng di gagalaw ang wage index e malamang maubos tao sa pinas.

[typhoon]

Baka dahil mas in-demand diesel dyan.

[niwde11]

UK and US, usually mataas ang cost ng diesel.

[seonadancing]

Dati naniniwala pa ako na di bale tumaas presyo ng gasolina basta may gasolina pang mabibili. But most of the factors that affects oil prices can be attributed to the US. If they didn't go to war with Iraq and stop meddling with the life of Iran then the oil prices wouldn't be that high. Why are they stopping Iran from building a nuclear plant when it would help with their electricty needs. They never found weapons of mass destruction in Iraq did they? I think the US goverment is over reacting to a lot of things because of 9/11, but they are the ones who failed to read the signs that would have prevented all these!!!!!!!

[uls]

http://quote.bloomberg.com/apps/news...olI&refer=home

Now the speculators are profit taking. Its plain GREED!! just after a day?!

They know oil price cant remain high coz of high US crude inventory. Iran sila ng Iran wala pa signs na ititigil ng Iran oil export nila.

[Monseratto]

http://quote.bloomberg.com/apps/news...olI&refer=home

Now the speculators are profit taking. Its plain GREED!! just after a day?!

They know oil price cant remain high coz of high US crude inventory. Iran sila ng Iran wala pa signs na ititigil ng Iran oil export nila.

George and Dick used to be involved in the oil industry...business is business.