MERGED: All About OIL PRICE HIKE

[boxingfan529]

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this is good news!

[kamikaze426]

good news gyud kaayo, I hope our government(OPPOSITION) wont mess around again and destabilize our economy

[boxingfan529]

currently, pila price?

[kamikaze426]

41.79 unleaded
42.40 premium
43.XX velocity

[boxingfan529]

40+ ra man gihapon no?

hopefully, before the year ends, down to 30+ na lang.

[omad]

here's another alternative fuel the Phils should focus on...
__________________________________________________ __________________________________________________ _
Plant-fueled cars could be Indonesia's future

By Marianne Kearney
Agence France-Presse
Last updated 11:40am (Mla time) 09/24/2006

JAKARTA -- Indonesia's first fully plant-fueled car has successfully completed a 3,200-kilometre (2,000-mile) road trip. Now its backers are hoping the triumph may herald a new era of sustainable energy in the archipelago nation.

Tanto Bangun, editor of Indonesian National Geographic, one of the major sponsors of the trip, says he was not sure the Mitsubishi Strada would survive the arduous journey from West Timor's Atambua to the capital Jakarta.

But the car, fuelled with oil from the jatropha plant, smoothly negotiated the freezing volcanic peaks of Flores and Sumbawa islands, as well as the sweltering Javanese countryside.

The trip was the brainchild of Bangun and Robert Manurung, head of the biotechnology research center at the Bandung Institute of Technology.

Bangun said: "When I met Robert Manurung, he was talking about how he is concerned about the lack of research on alternative energy (in Indonesia)...Innovation is not really appreciated because many industries that are related to fossil fuels don't like this development."

"So I challenged him: Can we make a journey on pure jatropha oil?"

full story
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[voldemort]

Is it possible for RP to follow Brazil's lead in using alternative fuel?


IMO, not likely. I don't think the gov't. has the political will to turn against The Cartel.

[grabehbebe]

Oil prices fall below $ 60

SINGAPORE, Sept. 25 (AFP) — Oil prices fell back below $ 60 in Asian trade Monday to their lowest level in six months, before regaining some ground, partly on easing concerns over Iran’s nuclear program, dealers said.
At 2:40 p.m. (0640 GMT) New York’s main contract, light sweet crude for November delivery, was down 48 cents to $ 60.07 a barrel from $ 60.55 in late US trades Friday.

The contract hit 59.95 dollars earlier Monday.

Brent North Sea crude for November was down 53 cents at 59.88 dollars.

"A lot is going on that is increasing downward pressure on prices," said Dariusz Kowalczyk, senior investment strategist with CFC Seymor in Hong Kong.

He said the crude price was "struggling" at 60 dollars and could be expected to settle below that key level at some point during the week, if not later Monday in London or New York.

"The 60-dollar level is psychologically very important," Kowalczyk said.

"The market is looking scary ... it’s falling like crazy and people are bailing out of their positions," said Tony Nunan, the manager for energy risk management at Mitsubishi Corporation in Tokyo. "The market seems to be bearish with the Iran situation looking like it’s reaching a compromise."

European Union foreign policy chief Javier Solana was to meet this week with Iranian nuclear negotiator Ali Larijani for the latest in a series of talks.

European leaders have expressed renewed optimism the talks will succeed after Iran’s hardline president, Mahmoud Ahmadinejad, voiced a willingness to suspend enrichment "under fair and just conditions" during appearances at the United Nations General Assembly.

"This decline of crude prices reflects lower geopolitical risk after Iran sent strong signals over the weekend that it is willing to negotiate all aspects of its nuclear program," Kowalczyk said.

The talks are aimed at getting Iran — the world’s fourth biggest crude producer — to accept a package of economic and diplomatic incentives in return for suspending a uranium enrichment program that the West fears is aimed at producing nuclear arms.

---http://www.mb.com.ph/BSNS2006092675467.html

[baron]

^ Maybe this is one of the reasons why there would be a reduction on the price of oil by P2. More so, the fact that economic indicators prove that we're gaining also contribute to the reduction of oil prices.

[grabehbebe]

And if that continue to fall, we can expect a price roll back by P4 of LPG this month, much higher than the recent roll backs. This due to the continues dropped of Prices of LPG to $77.40 per metric ton.
Because of this breaking news, it only means the prices of the basic commodities will slowly fall down soon.