Oil Price Watch

[uls]

why does it keep increasing?
is the source of oil increasing its price that much?

it's not so much the price of oil

it's the price of refined products

refineries cannot keep up with demand

kaya mataas ang bid prices ng gasoline, lalo diesel and jet fuel

[uls]

the price gap of crude oil and refined products used to be small

but now the price of refined products have decoupled from the price of crude oil

so even if oil prices are around $120/barrel

we're paying for refined products equivalent to $160 to $250 per barrel of crude oil

[uls]

[StockEngine]

tumatakbo parin ba refinery ni RA?

[uls]

petron is the only remaining refiner in PH

everybody else imports refined products

pati Shell

[Monseratto]

Biden about to kneel and beg to MBS...

[111prez]

at ayun kay elchico ...

[Egan101]

at ayun kay elchico ...

Mauuna ata papatung ng 100 per liter yung diesel!


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[xwangbu]

Mauuna ata papatung ng 100 per liter yung diesel!


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Grabe...gone are the days na "mura kasi diesel".
Kawawa mga PUV drivers and operators.

[Deestone]

Will this have a ripple effect? I mean less spending now for filipinos due to this high increase in fuel prices.....

[dr. d]

Will this have a ripple effect? I mean less spending now for filipinos due to this high increase in fuel prices.....

well,
our supermarket cart was not as full as before...
but this could be because of "empty nest syndrome"...

[Deestone]

well,
our supermarket cart was not as full as before...
but this could be because of "empty nest syndrome"...

Yes instead of buying milk tea or dine-in you just cook at home and drink softdrinks as the saying goes.... "maghigpit ng sinturon".

[dr. d]

Yes instead of buying milk tea or dine-in you just cook at home and drink softdrinks as the saying goes.... "maghigpit ng sinturon".

"i don't milk tea!"
"i do lipton tea bags!"
heh heh heh.

[uls]

Will this have a ripple effect? I mean less spending now for filipinos due to this high increase in fuel prices.....

sa mga walang sasakyan maliit lang effect sa transportation cost kasi mura parin pamasahe

piso lang yata tinaas sa jeep tapos may libre bus

pero ramdam na ramdam ang inflation sa pagkain

-

for car owners obviously ramdam ang pagtaas ng presyo ng gas/diesel

pero i'm not sure if people are already spending less on other things

wala kasi data gathering sa Pinas

like i wanna see data on discretionary spending -- like kung bumaba ang spending on restaurants, specialty coffee/beverages, travel/vacations, etc

[kagalingan]

^
last saturday napadaan ako west ave starbucks ang dami kotse. Pati sa quezon ave. Pati yung gimikan na beech umabot sa gilid ng tropical hut paradahan.

but ito mga nabanggit ko eh trueQC. Ewan ko sa other cities kung may pera pa sila hahaha

[uls]

kahit mahal ang fuel i think people very willing to spend on recreation/relaxation/entertainment/travel

2 taon nakakulong eh

bumabawi

[kagalingan]

^
nagdrive kasi ako saturday night naghahanap ako chicharon na walang vetsin. Eh ayun walang nabilhan drive-drive lang ang dami pinuntahan nagsayang gasolina. So ayun nakita ko puno tropical hut, starbucks. Pati yung gimikan umabot parking, nandoon yung bouncer nagbabantay mga kotse.

[uls]

nag tropical hut ako kagabi past 8pm madami tao

nag viral kasi last week

-

ung starbucks diyan sa kanto ng quezon ave (across mcdo) dami tao

-

people still have extra money kahit 4-5000 full tank

[uls]

friend asked me "how much of the spending you see is put on credit card?"

good question... of course i don't know

but i get the point -- hindi basta basta magbabago ng lifestyle mga tao kahit nagtaasan mga presyo

ilalagay sa credit card yan to maintain the lifestyle

that's why we don't see changes in people's spending behavior

[ice15]

people still have extra money kahit 4-5000 full tank

people stayed at home for 2 years.

no daily commute, no overseas travel, no new clothes (not required as we were working from home)