Random Thoughts

The government should address the country’s problem about oil prices before it totally ruin the economy.  

Aside from Electricity prices, another thing that has been steadily increasing is the oil price.  From the start of 2012, at least five oil price hikes have been implemented in the country. It was all because oil prices have also increased in the world market due to the chaos happening in the Middle East and the West. However, the threatening prices of gas and diesel have brought torment to the public.

Of course, the primary affected whenever there will be an oil price hikes were the motorists and commuters but all of us were really affected by it. How? Simple, all of us people living; breathing and moving were affected by oil price because we all go to different places. We can’t just walk, we have to ride. Aside from that, when prices of gasoline increase, definitely prices of other products will also rise. This was because products of different cities were transferred and delivered to the markets. Transportation is also included in the cost.

In the Philippines, several transport groups have condemned the oil price hikes. In an interview, Pasang Masda blames the government for not doing anything and for being powerless regarding this problem.  They said that PUV drivers were caught in the middle of the situation because commuters don’t want them to impose an increase in fare and yet, oil prices have been increasing. Department of Energy on the other hand defended their side. "Napakahirap for us, kami nasisisi, para kaming PAGASA, sana huwag magalit kung ang bad news ay based on facts....we are not spokesmen ng oil companies, mas kinakatigan namin kapakanan ng consumers."

According to a study, high oil prices could endanger the shaky recovery in advanced economies and small oil-importing countries. Moreover, the manner in which oil prices affect emerging and developing economies has received surprisingly little attention compared with the large body of evidence for advanced economies. The big picture here was that, import bills go up when oil price rises just as said earlier, thus making the problem a bigger one.

So before, oil prices triple its digits, the government should be alarmed with the looming price of oil prices.

To help you get a clear view of how the cost of oil was broke down, visit this site http://www.bbc.co.uk/news/business-15462923 and let us hear from you.