the main reason why gas prices in the philippines remain high despite the continuing drop of oil prices in the world market is that the oil companies are employing delaying tactics in bringing down the cost of oil alongside the drop of world maket prices to maximize the profit margin that they can possibly get. it's really a whole bunch of cow manure for them to declare to the comsuming public that they are losing in their operations. have you ever seen a year-end report of an oil company? they almost always boast of the sales that they generate for that particular year and how it is bringing the company to higher levels with tons of profit being posted every passing year... regarding the oil in palawan, if it is indeed a sizable deposit, will only benefit the government and the people who run it. this is because the government intends to sell palawan oil in the philippines at world market prices. so in effect, its availability will not bring down the price of local oil and people will not feel any kind of benefit that local oil will bring. in plain and simple terms, the oil that they discovered in palawan will be USELESS to the ordinary juan dela cruz.
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Topic: Why Is Gasoline Still Expensive in the Philippines? (Read 2093 times)