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ang possible na epekto nito ay di na makakaandar yung mga sasakyan kasi wala ng gasulina

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Q: Effects of oil price hike in the Philippines?
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About the continuous oil price hike?

From a purely economic standpoint, it's supply and demand. They supply you with oil based products and demand your money! (just kidding). First of all, oil is a limited resource in the Earth's crust. As a limited resource, we only have so much of it before it runs out and there's none left at all. So as the demand worldwide stays the same or increases for oil, the supply is only getting smaller. As supply goes down, and demand goes up or remains the same, prices naturally get higher. Second, the companies and countries that have the rights to the land on which they drill for oil have the right to sell their oil at any price (assuming it's similar or less in price than other companies/countries offer) they want to countries with less oil-rich land. The demand in these countries may be very high, while the supply may be very very low. This drives up regional prices. Finally, as inflation happens, the price of all commodities increases. As the value of a money supply decreases, the value of a limited resource increases. Therefore, you get a constant rise on the price of oil. -Jonathan C. Holcomb


In the 1970s OPEC caused a dramatic increase in the price of oil What prevented it from maintaining this high price through the 1980?

The catalyst for this price hike was the Yom Kippur War in which the West, and in particular the United States loaned their support to Israel in the form of supplies, funding and weapons. In response the OPEC nations resolved to up the price of oil and boycott the U.S and the West. There are a variety of reasons that contributed to this trend not continuing on through into the eighties


What is the price of a barrel of oil?

As of September 1, 2012 the price of a barrel of oil is $96.48. To see the current price of a barrel of oil see the related link below, which gives the current price of oil.


What is the Reason of the oil crisis of the Philippines?

corrupt............


What is the current platts price for automotive gas oil?

This is the price of crude oil. The amounts will vary depending on the supply and demand that is placed on the oil.

Related questions

What is the meaning of oil price hike?

When the people responsible for price of oil raise it for no apparent reason.


Is there any law for oil price hike?

nope


What are the possible effects of oil price increase?

poor people can't drive cars!


About the continuous oil price hike?

From a purely economic standpoint, it's supply and demand. They supply you with oil based products and demand your money! (just kidding). First of all, oil is a limited resource in the Earth's crust. As a limited resource, we only have so much of it before it runs out and there's none left at all. So as the demand worldwide stays the same or increases for oil, the supply is only getting smaller. As supply goes down, and demand goes up or remains the same, prices naturally get higher. Second, the companies and countries that have the rights to the land on which they drill for oil have the right to sell their oil at any price (assuming it's similar or less in price than other companies/countries offer) they want to countries with less oil-rich land. The demand in these countries may be very high, while the supply may be very very low. This drives up regional prices. Finally, as inflation happens, the price of all commodities increases. As the value of a money supply decreases, the value of a limited resource increases. Therefore, you get a constant rise on the price of oil. -Jonathan C. Holcomb


In the 1970s OPEC caused a dramatic increase in the price of oil What prevented it from maintaining this high price through the 1980?

The catalyst for this price hike was the Yom Kippur War in which the West, and in particular the United States loaned their support to Israel in the form of supplies, funding and weapons. In response the OPEC nations resolved to up the price of oil and boycott the U.S and the West. There are a variety of reasons that contributed to this trend not continuing on through into the eighties


What are the effects of hash oil?

Effects of hash oil


How do you say oil in Philippines?

The translation for "oil" in Filipino is "langis".


Why the oil price of the visayas is higher than luzon and mindanao?

the luzon visayas and mindanao are the largest island in the Philippines. the tagalogs is many on philipins. in mindanao there are many Muslim


Does oil spills helps to increase the oil price?

Yes it does affect the oil price


Where can you buy antivitiligo oil in the Philippines?

You Can buy Antivitiligo oil from from www.antivitiligooil.com


What is the price of a barrel of oil?

As of September 1, 2012 the price of a barrel of oil is $96.48. To see the current price of a barrel of oil see the related link below, which gives the current price of oil.


What is the Reason of the oil crisis of the Philippines?

corrupt............