Now that the oil price (Brent crude) has reached $100/barrel level (http://www.msnbc.msn.com/id/12400801/) when can we expect a price rollback from the local oil firms? During the last 3 months (June-August 2008), we have been constantly hammered by almost every week of one peso increase in gas prices mainly due to the increase in the price of crude oil in the world market. When the oil firms use this as an excuse, we really can't do anything about it. But now, the crude is back to 1st quarter of 2008 levels, we have not seen the same level of eagerness in terms of price rollback. The best that we are seeing is an every other week 1 peso price rollback. Is it enough? Personally, my answer is no. Right now, pump prices are at P52-53/liter for unleaded gasoline. If not for the small oil firms who are the ones leading the rollback, it might still be on the P55-56 price range.
When I bought my car last May 2006, the price of unleaded gasoline was only around P40/liter and even bottomed out to P34/liter during Feb 2007. Since then it has been a climbing price chart! Now, I couldn't even justify using my own car! Since May of this year, when the pump prices climbed to P50/liter, we started to feel the burden of spending for gas. I was forking out atleast P7200/month on gas and it took a toll on our family finances. I calculated the cost of commuting versus bringing my car to work and the difference was staggering! I can save P4500/month by not using my car to work. Since then, I've been commuting to work and to school. I'm saving on gas, parking and toll fees. The only drawback is it's more tiring, poses health hazard (due to the smoke belchers and smokers) and it takes more time to get home :(. Anyway, the ROI is worth it. We now only use the car for "official" family "lakads".
I just hope for the sake of the average Pinoy Yuppy that the oil firms rollback the prices more. 'wag lang puro kabig, dapat matuto ding magbigay.
When I bought my car last May 2006, the price of unleaded gasoline was only around P40/liter and even bottomed out to P34/liter during Feb 2007. Since then it has been a climbing price chart! Now, I couldn't even justify using my own car! Since May of this year, when the pump prices climbed to P50/liter, we started to feel the burden of spending for gas. I was forking out atleast P7200/month on gas and it took a toll on our family finances. I calculated the cost of commuting versus bringing my car to work and the difference was staggering! I can save P4500/month by not using my car to work. Since then, I've been commuting to work and to school. I'm saving on gas, parking and toll fees. The only drawback is it's more tiring, poses health hazard (due to the smoke belchers and smokers) and it takes more time to get home :(. Anyway, the ROI is worth it. We now only use the car for "official" family "lakads".
I just hope for the sake of the average Pinoy Yuppy that the oil firms rollback the prices more. 'wag lang puro kabig, dapat matuto ding magbigay.
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