The never ending oil price increase...
By juliefaye
@juliefaye (1214)
Philippines
June 6, 2008 7:15am CST
Just watching the early evening news today and this never ending oil price increase makes me curse the greedy oil companies. This is the 14th times they made since January. Before, they used to add .50 cents per liter, now in the past three weeks they joyfully add 1.50/liter. Given the fact that there's an increase in the world market but they already made their purchases good for six months or so. Their profits are already multiplied by the weekly increase yet the same fuel they sold are their stocks from previous purchases. My blood is boiling, How greedy!
When I was in college, we used to go to the streets to demand the rollback as we all know that it has a domino effect on basic commodities and the masses are the one who suffers most. Are filipinos tired of this since we all know that nothing will happen anyway?
4 people like this
13 responses
@zeroflashx2 (2491)
• Philippines
6 Jun 08
When I first drove a car, premium gasoline was around P10 per liter! and diesel was only P7! Now it's more than 5 times the price and it keeps going and going higher. It maybe ample time to look for alternative fuels or hybrid cars. But unfortunately, we don't have that technology here as much as some other countries have. It could be that our government is trying to dismiss that idea in order to gain more money than what they already have. I am not sure but somehow they still have control over it but aren't doing anything.
@juliefaye (1214)
• Philippines
6 Jun 08
what year was that? 10 years ago? In 2003, diesel costs 19.00/liter and we have our first AUV back then. Our car today is an old model 1.3 and we started 36.00/liter of unleaded gas in 2006 and 51.00/liter today just a span of 2 years. Fuel is skyrocketing while the workers are begging for a salary increase.
@zeroflashx2 (2491)
• Philippines
6 Jun 08
Yeah, it was 1997. I started to drive to school. It was cheap and a P100 bill will take me 2 trips. Now, It's only one-way. 
@zeroflashx2 (2491)
• Philippines
6 Jun 08
Oh yeah. Before I forget. We have an AUV as well. 1.5 liter FX. 
Got 'em since it came out in 1994. Still alive and kicking.
Got 'em since it came out in 1994. Still alive and kicking. 
@neildc (17239)
• Lapu-Lapu City, Philippines
10 Jun 08
As a father and head of the family, the bread-winner, I am already sick and tired of the continuing oil price hike. It is so irritating that everything will goes up when the oil prices went up. I almost don't know what to do, and now that school opens again, another added burden to my pocket is the tuition and the school supplies which all went up too. Luckily, I have a gasoline allowance from my sideline job, so I don't actually bothered by the oil price increase...
@juliefaye (1214)
• Philippines
11 Jun 08
Good for you neil, but even if you have that gasoline allowance, you're still affected by the domino effect that this fuel increase brought to us. This is sickening...
@tholitz (1127)
• Philippines
7 Jun 08
I definitely agree with you, maybe the Filipino people had grown tired of expressing what they have inside since nothing had happen anymore. Like in the prices of fuel, many had already raised their protest regarding this but it seems they all had fallen on deaf ears. Even the government cannot stop these oil companies from increasing their prices every week. The increase every week had become a habit and ordinary thing for us right now. The only misery here is that we, the ordinary people, who would suffer most from this.
@juliefaye (1214)
• Philippines
9 Jun 08
Our government is telling us that they can't do anything.. so why remain in seat when you can't do anything but to watch how the people suffers? I don't believe they can't scratch off the VAT. Have we seen any improvements since 2003 when this VAT implements? Nothing, I guess.
@rsa101 (37966)
• Philippines
7 Jun 08
Yes I guess we are just kept crippled by these and could not do anything with their price increases. I think even the government officials are at their knees when they foresee this companies to be increasing their prices. Although its true that the world market price are increasing but we are not sure if it would really impact us that soon as we could not see the real stocks of this companies if they have on stocks or are they just buying based on demand.
@juliefaye (1214)
• Philippines
9 Jun 08
These big oil companies don't just bought based on demand, they have stocks good for 6 to 12 months. And with the weekly increases, they simply make it appear they had bought it yesterday.
@pandu2earn (6)
•
7 Jun 08
We can decrease oil price by using eco friendly fuels in our daily life for e.g. bicycles for near distance and using mass or public transport. This will definitely decrease the demand for oil, then obviously it will decrease.
@juliefaye (1214)
• Philippines
9 Jun 08
good idea here, if the gov't can't do anything, we can start it off by ourselves.
@wilmyr420 (8)
• Philippines
7 Jun 08
an environmental law proffesor once discussd in a forum how we are experiencing peak oil crisis. the sudden oil price increase goes way beyond the mismanagment of the administration. The increase in prices worldwide is a symptom of how the worlds supply of oil is quickly being depleted. We have got to remember that we are consuiming oil way faster that it is being produced by nature. In my opinion it is better for us to find an alternative energy source as the oil is quicky approacing its inevitable end
@juliefaye (1214)
• Philippines
9 Jun 08
I remember the geotherium they found in palawan which they said can replace fuel, but nothing happens.
@lingli_78 (12822)
• Australia
6 Jun 08
i completely agree with you... those oil companies are really greedy... they only think about their own profits and never think of their customers... i really hope that the government can do something to reduce the price... it is so ridiculous that now i have to spend at least $90 per week for fuel... totally unacceptable... take care and have a nice day...
@sreejithsreenivas (10200)
• India
7 Jun 08
I am from India and our government currently increased the price of both petrol and coking gas because of the hike in the price of crude oil in the international market.Middle class people are suffered lot by this hike and we can see the after effect in our economy.I think hike process will never stop.So that we have to an alternative to petrol.Our science and technology is developed a lot so in the coming future our scientist can definitely find a proper solution to this problem.
@naaadh (217)
• United States
7 Jun 08
What other choice do we have? They are the makers and sellers and we are the buyers. Even if we arent happy about it we cant make them reduce the cost. The only thing we could do is stop using oil completely, which is way out of possible. I mean if that happens, the oil companies will be in a loss and they will be forced to bring down the prize in order to get more customers. Another way is switching to another source of energy. I just hate how much money they are taking from us for just one litre of oil, which i for surely cant go any far than 30 kilometers on my motorbike. Hell with oil companies.
@juliefaye (1214)
• Philippines
9 Jun 08
It's like we're forced to swallow the bitter pill. Nothing we can do but to accept it.
@connforfun (96)
• India
7 Jun 08
ya i do agree,this oil price increase is really a curse for whole world.In india also this increase is affecting alot.And most important thing is that due to this increase the stock market is also dwindling gradually,moreover daily commudity prices is also impacting middle class people.Though these companies are making profit with their earlier stocks even one can't do till oil producing countries start exporting more and more oil.Its a time to have a check on this oil price increase,before it touch to the mark of 200,
How is the situation in other countries
@bestvasanth (8)
• India
7 Jun 08
thats the major problem in the developing countries like india......... due to the hike in oil prices inflation rises......... middle class people got affected heavily due to the rise in oil prices..........
