Thursday, October 16, 2008

Three oil firms (Shell, Petron and Eastern Petroleum) have announced a reduction of P1 per liter for gas, diesel and kerosene, according to this article on the Inquirer.net. The price drop took effect at 6am this morning.

Piso lang? International prices are now down to $78/barrel!

2 comments:

LJDiaz said...

Yup, bakit piso lang?? and then they took unioil's (ba yun?) reserves kasi they are not paying taxes daw kaya they have the guts to make a 3 peso reollback.. Why is that so??

or is there another reason behind that? which is to abuse us motorists?? that is why the big three cant make that big rollback like unioil does.

Matter of fact, the big three should have the best ability to make those big rollbacks because they are already established, unlike unioil who only has only a few numbers of stations.

something fishy is happening here, the price per barrel outside is not in sync with the prices of our fuel.

ung prices ng fuel ngayon sa world market eh dapat nasa 43 - 45 na lang, pero sila 49 lang?? That is Bull.

I have got the idea that papatagalin pa nila yung prices up until all saints day kasi I know that every halloween season, people are traveling back and forth to visit the cemeteries.

edi the fuel are the winners again and we motorists are going to be the losers again

The Huli Ka! Team said...

hahaha! hindi naman s'ya fishy. talagang obvious naman na they're delaying rollbacks to make more money. and since dati pa sila may collusion, the only time they'll do a rollback is if the three are in agreement. unfortunately, the smaller players (with the exception of unioil) are riding along 'cos it spells more profits for them.

bottom line, oil deregulation, which was supposed to promote competition leading to lower prices, failed. just like the electricity spot market.