Fluctuating World Prices Of Oil

Discussion in 'Energy & Fuel' started by Corie Henson, Jul 5, 2015.

  1. Corie Henson

    Corie Henson Very Well-Known Member

    Jun 11, 2015
    Likes Received:
    Prices of oil here is deregulated so it fluctuates when the world price moves. Unlike before when the government would declare a price change for the gas stations once a year, now it is the gas companies that declare increase or decrease in price. As an economist said on a radio interview, that's goof for our economy because the price fluctuation is felt by the consumers. I agree to that.

    Before our president got into his position in 2010, the cost of unleaded was 50 pesos per liter. As months pass by, the price was inching and inching upward until it reached a high of 54 pesos. But 2 years ago, the economy stabilized and world prices of oil went down that consumers were happy to see a big drop in the cost. It is now 45 pesos per liter.

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