Monday, October 20, 2008

Pilipinas Shell President and Chairman Edgar Chua has announced on yesterday's gathering of tricycle drivers and operators at the MOA that a rollback may be implemented on Thursday or Friday as oil prices plunge to $61 per barrel.

Well, they better bring it down by a big chunk. According to this report, gasoline prices are way over what they were when oil prices were on their way up. Speaker Prospero Nograles said that the price of gasoline last January was at P44 per liter and world oil prices were at $87 per barrel. Now, with oil at $70 per barrel, pump prices are still at P46-P48 per liter.