Major and independent oil players rolled back prices of diesel and gasoline early Thursday morning. Price reduction of 5-6 pesos in diesel and 2-3 pesos in gasoline.
This is of course good news for all of us especially the motorists. During this financial crisis wherein millions of job in overseas are at stake and people starting to tighten their belt; this reduction of oil is timely and will surely mean a lot of savings for a lot of Filipinos. This is also a good gift for people traveling during All Saints' day.
But I believe this kind of big time rollback should be implemented long long before when Oil prices in the world market started to drop. Now the oil price is now at the level of 60 to 70 dollars per barrel, I'm expecting that oil price should go down to 30 pesos per liter. I urge the public and the government to continue exerting more pressures to these greedy companies to pass on acceptable and justifiable oil price to the public.
Source:
http://newsinfo.inquirer.net/breakingnews/nation/view/20081030-169225/Major-independent-oil-firms-cut-prices
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9 comments:
I really saw how the prices of oil was cut down, and for me this is really good. At least people will be able to concentrate on other problems like their electricity. They will be able to use their car while going to work from now on, but the disadvantage of this is that it is clearly seen that traffic will be the cause of cutting down the prices of oil. I just hope that low prices on oil will do positive effect on our country. And I hope people will use it in a good way.
The 5 - 6 php rollback is not enough. The independent companies should have started not just today, but when the oil prices went down from its supplier. The increase in price of gasoline was really high and was a burden to oil consumers. It really consumed a lot from the income of the users. I just hope that the rollback of price oils continues to lighten up the expenses of the people.
This is definitely good news, this would be a lot of help to everyone. With the prices of other goods threatening to go higher in the midst of a financial crisis, it is good to hear that there is still some good news. For me we should not prostest for more rollbakcs, I mean true, I would like oil prices to go lower but I think that's just pushing it. It would be great if the oil companies were to announce another roll back, but for me lets just wait for them to give it, because in the way I see it they give rollbacks when it seems fit. I'm sure there'll be more rollbacks as long as prices of oil in the world market stays low or even lower, we just have to wait and be patient.
Another thing I'd like to add, is the price of transport fare should now decrease!! From what I know the rollbacks have now added up to almost 20 pesos, its just fair to lighten the burden on commuters as well. It would be a great early Christmas gift for commuters, not that huge fare decrease just around 1 pesos the least (back to 7.50) ;)
Since I use a car everyday, I always focus on the price of oil. I am happy but this will cause heavier traffic and more air pollution. I know that this is a good news to all Filipinos during hard time. I hope that this would keep going down....
The world market price of oil is already down to $50+ so its really necessary for these oil companies to lower down their prices. The retail price of the gasoline now is relatively higher when compared to retail price when it was also $50 per barrel before. Retail of premium gas now is at P44 - 46/liter but years ago they retailed it for about P38 liter(same $50 per barrel). Although the gasoline prices are on a down trend, I believe they can give much higher rollbacks in the coming weeks. Lets cross our fingers guys so that we may use our cars without feeling the guilt because of high gasoline prices.
its a good news that oil companies had price rollbacks. this is a big help for the filipino community. it's true that prices must have been rolled back a long time ago but our econtwo class explained the cause of delay. the delay of price rollback was due to the 30-day inventory requirement, meaning even if the oil price per barrel decreased today, big companies still have to sell a month supply of oil which they have brought at a higher price the month before. maybe the rollback isn't enough but atleast they had price rollbacks. i believe that the price of oil will continue to decrease and this would be a big help to consumers.
First of all, this will benefit me since I am a car user. With the rollback it somehow increases the mileage I can travel. Before I used to loading 250 pesos worth of gas going back and forth from Mandaluyong to Paranaque and vice versa, but now 200 is already sufficient. I miss the old days when I only spent 100 pesos for gas per trip because the price of oil before was very cheap, unlike now where everything is already expensive but the value of money is still the same.
I wish that the price of oil would really go down because it would all be for the benefit of all people because for sure if the prices of oil would go down so as all the commodities like food, and other necessities.
I use my car almost everyday and I spend 300 PHP everyday. This is good news for me and for everyone. But I disagree it will cause traffic more traffic. Increase of decrease in prices of oil, traffic can never never be solved in our country. Unless the price of gas per liter goes up like 100-500 PHP.
it's good to know that oil price rollbacks are happening. now people can give more attention to things/necessities that are more important like food clothing shelter. now they can provide more for their families and they can live without worry of how they would got o work the next day. having the rollback would also help the economy because people would now spend more money on other things therefore improving the economy and the philippine market. there will be much needed monetary activity which aids the improvement or the country. :)
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