Oil Price Watch

[ghosthunter]

Heard that the next price hike will be P2.00. Better fill those tanks...

I heard the same news from my brother...

[holdencaulfield]

wala nakong masabi sa mga ito kundi,

FULLTANK NANYO!

[Ry_Tower]

Code for Crude Oil Dashboard

Brent now at $107.26 still, hopefully it's a good sign that we will have a price rebate by EOW.

After 2 weeks, Brent at $118.59. Price increase na talaga. Code for Crude Oil Dashboard

[uls]

hey IEA, what na?

yeah, your 60 million barrel release successfully lowered the price of oil... for a few days

haha

[Ry_Tower]

hey IEA, what na?

yeah, your 60 million barrel release successfully lowered the price of oil... for a few days

haha

Bawasan na kasi pati Strategic reserve until hindi pa nila naayos mga unrests! hehehe

[uls]

Bawasan na kasi pati Strategic reserve until hindi pa nila naayos mga unrests! hehehe

half of the 60 million barrels came from the SPR

[Ry_Tower]

half of the 60 million barrels came from the SPR

nakuw, kulang pa rin talaga. ilan ba daily con sumption ng mundo?

[uls]

nakuw, kulang pa rin talaga. ilan ba daily con sumption ng mundo?

88 to 89 million barrels per day

[Ry_Tower]

272 million barrels lang SPR ng kano, di kakasya. hehe

[uls]

272 million barrels lang SPR ng kano, di kakasya. hehe

mali. hindi 272.

727 million barrels

akala ng mga tao madami oil ang SPR

it will last about a month based on current rate of US oil consumption

[Ry_Tower]

mali. hindi 272.

727 million barrels

akala ng mga tao madami oil ang SPR

it will last about a month based on current rate of US oil consumption

hehe, i forgot the exact figure na eh. just read about it somewhere kasi.

Kulang nga yung nilabas nila, parang ambon lang sa summer

[uls]

hehe, i forgot the exact figure na eh. just read about it somewhere kasi.

Kulang nga yung nilabas nila, parang ambon lang sa summer

di naman dapat ilabas yan in the first place

the spr is for emergencies

like when major war breaks out in the middle east and supertankers can't pass thru the strait of hormuz

or some other occurence that stops oil delivery to the US

eh itong ginawa nila pang intervene lang sa presyo ng langis

si Obama kasi bumabagsak ang popularity and next year na ang election kaya ginawa ng US govt yan

it's politics

it's stupid

[Ry_Tower]

^ its a political move nga naman and not an economic solution so it failed altogether.

And with that volume, it's miniscule indeed to have a major impact on a long term basis.

[Monseratto]

It's Tuesday again...

Shell, Eastern Petroleum hike gas prices by up to P2/liter | Inquirer News

MANILA — Pilipinas Shell Petroleum Corp. and Eastern Petroleum Corp. are increasing prices of unleaded gasoline by P2 a liter, regular gasoline by P1.50 a liter, and of diesel and kerosene by 80 centavos a liter, effective today.

Shell said in a statement that the latest oil price adjustment reflected a surge in the prices of fuel products in the global market last week. This week’s price hike had also more than offset the rollback implemented by oil companies the previous week.

“What we’ve seen is the anticipation for an increase in demand in oil especially during this time of the year, so the market reacted,” Energy Undersecretary Jose M. Layug Jr. said.

In an interview, Layug also pointed out that the continued conflict affecting the oil producing countries in the Middle East pushed prices up.

Prior to this oil price hike, diesel prices ranged from P41.70 a liter to P46.20 a liter, while gasoline retailed for P49.65 a liter up to P56.57 a liter.

As of July 3, the year-to-date net increase of diesel stood at P4.80 a liter and for gasoline, P5.22 a liter

[Ry_Tower]

It's Tuesday again...

Shell, Eastern Petroleum hike gas prices by up to P2/liter | Inquirer News

pababa na nga eh. tapos hike pa sila.

[uls]

pababa na nga eh. tapos hike pa sila.

laki ng tinaas the past week

local oil companies price basis is 1 week average

[Ry_Tower]

laki ng tinaas the past week

local oil companies price basis is 1 week average

sabagay, yun na rin lang siguro talaga dahilan.

Tapos kung magmaintain, la na muna prie rebate.

[Monseratto]

time to load up...again.

Oil Price Hike: Caltex, Eastern Petroleum, PTT (effective 6am) and Shell (effective 12:01am) to hike its fuel prices; unleaded gas P0.30/L; regular gas P0.60/L; diesel P1.10/L; keros ene P1/L tomorrow.

[crazy_boy]

just got this from our company email:


OIL PRICES SEEN RISING UNTIL YEAREND
Industry exec hits gov’t fuel subsidy scheme
Philippine Daily Inquirer
August 2, 2011

Expect more price hikes in petroleum products until the end of the year as the Brent benchmark for crude prices may reach as much as $130 per barrel. Consumers should brace for higher prices of local petroleum products until the end of this year as the Brent benchmark for crude prices would likely reach as much as $130 a barrel, according to a Platts official. At the sidelines of the Platts Forum held Tuesday, Jorge Montepeque, global director for pricing at Platts, admitted that while nobody could rightfully predict oil prices, the slowdown in the growth in Asia has tempered what would have been a surge in Brent prices to as much as $150 a barrel. “Growth in Asia is not so hot anymore. I think $120 barrel to $130 a barrel [pricing for Brent] is quite likely because China is cooling off a little bit. China is not as strong as it was. But the overall base for prices continue to be very strong,” Montepeque explained. Although the expected increase in the Brent benchmark for crude prices would definitely impact local fuel prices, Montepeque urged the Aquino administration “not to do much at all and let the [fuel price] market be free.” The Philippines uses the Dubai crude benchmark for crude prices while Brent is used largely as a benchmark in Europe. However, the price movement of the Dubai crude closely follows that of the Brent, which stood at $116 a barrel as of Monday.

Zenaida Monsada, director for the oil industry management bureau at the Department of Energy (DoE), also admitted that “petroleum prices are moving up generally” and will thus impact the Philippines, which imports practically all of its transport fuel requirements. “In order to lessen the country’s dependence on imported oil, we have moved toward cleaner, more indigenous fuel. The most feasible alternatives would be liquefied petroleum gas, compressed natural gas, biofuels and even electricity,” Monsada told delegates who attended the forum. Separately, Energy Undersecretary Jose M. Layug Jr. stressed that the DoE already laid down its short-, medium- and long-term plans that would help cut costly fuel imports and lessen the vulnerability of the Philippines in the event of any global oil price surge. These measures and initiatives, in effect, would cushion the country from volatile oil prices. Layug said that for the short term, public transport was being given various forms of assistance such as discounts from oil companies and the P450-million Pantawid Pasada Program, under which the government provides some 140,000 jeepney drivers with fuel assistance smart cards with a load of P1,050. Montepeque, however, disagreed with this particular program, saying that it was “not a good idea as [the government would only create a bigger] budget deficit.” "Subsidies create artificial demand so you just harm yourself [as a country that imports most of its fuel requirements],” Montepeque said.

Over the medium term, the government is crafting the Alternative Fuels Roadmap, which seeks to diversify the Philippine transport fuel mix. The roadmap will see the conversion of existing transport vehicles to run on other fuels than diesel. The DoE, in particular, wanted to convert more than 2,000 diesel-fed jeepneys to run using liquefied petroleum gas (LPG) and natural gas—the cost of which could reach P200,000 for each unit of jeepney. It was earlier reported that the DoE was working with multilateral agencies for cheap funding for the program. For the buses, the energy department is set to launch a pilot program to convert 10 buses so these would run on LPG at a cost of P150,000 each, or a total of P1.5 million. In the long term, the government is pushing the exploration and development of the country’s own resources through the recent launch of the Philippine Energy Contracting Round 4, in which the DoE offered contracts for 15 highly potential oil and gas areas.

hm.. i guess another increase next tuesday?

[uls]

bumaba ang Brent futures

rollback yan