Gasoline Prices Went Up Anew!

We're running on Empty!

So the "Big Three" oil companies in the Philippines have raised gasoline and kerosene prices again yesterday.  The increases ranged from P1.40 per liter on premium and unleaded gasoline, and P1 a liter on regular gasoline. Kerosene prices went up by as much as P0.30 a liter, too.  Pilipinas Shell, Chevron Philippines, and Petron Corp., the major oil players in the country, said the price adjustments were due to increases in the international product prices based on the Means of Platt Singapore (MOPS).  With this price hike, gasoline prices in Metro Manila is now averaging P57.50 (about $1.34) per liter of unleaded gasoline, and kerosene at P56 a liter.

Gas prices are inching towards the P60 mark.  Pretty soon, prices of basic commodities will also start going up.  Everything will start getting more expensive while wages remain the same.  In other words, we are going to be able to afford less with the money we have.  Sounds very much like inflation, doesn't it?




Let's go back to the horse and buggy,

Jon