http://www.bbc.co.uk/news/business-32480039 This is not good news. now see how everything will cost more
I dont get it last sep oil was at $100 a barrel petrol at £1.29 then it fell to $50 pb petrol at £1.03 now $65 pb petrol at £1.12 that doesnt add up
The British consumer is still being screwed by Big Oil and the government does nothing to stop that. Here the oil companies are ordered to reduce pump prices in line with the cost of crude and the airlines had to drop their fuel surcharges.
I filled up my daughters pick up yesterday and it was 28php a litre. Works out at roughly 42p a litre. Quite a big difference in price between Davao and Manila.
Currently a difference of Php5 per litre which is the cost of getting it shipped from the Shell/Petron refinery.
Perhaps they should start taxing it to help introduce measures to deal with the poverty in the country?
The pump price includes tax. 'Slap a tax on it' is the socialists' answer to everything but there are very good reasons why such a tax is not such a good idea as it seems in a third world scenario.
I half-expected that naive reply from you which demonstrates a complete lack of understanding of the economics and empathy with Filipinos. And a suggestion of raising taxes made by someone who lives in a tax haven is the height of hypocrisy.
This is a topic is close to home for me. The oil industry has provided a career for me since the age of 18. What has been obvious is that every 4 or 5 or 6 years or so the price of a barrel of oil either goes through the roof or drops through the floor, such is the way of an in demand natural resource. Undoubtedly one day it will no longer be the case and we will have moved on to other energy resources. We are seeing the signs already but have we reached a tipping point? Nobody knows. All the expert opinion conflicts, as there are so many factors involved and so few if any that can be controlled. From my own point of view I would like to see the price bounce back to previous levels. I think they will but one can never be certain. In the past it has normally taken an interlude of a year before things return to what might be termed normal pricing levels. Fill yer boots with cheap oil, before it ramps back up again. Then maybe we or our kids can look forward to a hydrocarbon free age, sometime in the not too distant future. It isnt in the Saudi's best interest to keep it super low for ever. They just wanted to put the US Frackers out of business, which appears to be working.
Sorry John, but you're speaking from a First World perspective and trying to apply that thinking to a Third World country. Unfortunately for the Philippines, its brief period of British rule did not coincide with the industrial revolution as it did with the colonisation and running of India and Malaysia where railway networks were built to convey passengers and freight. And, as a double-whammy, the Spanish had absolutely no interest in making Filipinos' lives easier. Consequently, all passengers and freight have to travel by road and either bv air or ship between islands which of course means burning hydrocarbon fuels. Building solar or wind farms isn't going to help to get rice from farmer to market. Increasing the cost of those fuels by taxation will increase the cost of all goods, both directly and indirectly. That disadvantages the poor far more than anyone else. Politicians can not be trusted to use their existing cash allocations - their pork barrels - to benefit the citizenry and any extra for fuel duties and taxes will simply benefit them, their sponsors and their cronies. This country needs to develop its off-shore oil fields and invest some of the revenue into alternative means of transport. But I fear greed and "live for today" may prove to be the deciders.
Sorry Markham. Not relevant. More drivel. I was not trying to apply anything to a third world country. I was talking about world oil in general. Irritate someone else.
Oh really. It is you who suggested increasing taxes on Philippine fuels without any thought of the consequences that would visit upon the poor, not I. Then you spout some self-righteous nonsense about how needing higher oil prices. It is you that has lost the plot, not I. Now if you'll excuse me, I have just been given some rather devastating news.
