Questionable Fuel Cost in the Philippine Peso!!!

How come that the price of Gasoline in the Philippine were that high?
I am just wondering why the oil company, prices the gasoilne at that high. Imagine the price per drum of gasoilne is $ 80 only.

Based on my computation the gasoline per liter were approxiamtely 0.3846 or 39 dollar cent per liter. The computation was done using the scale 1 drum is equal to 55 gallons, then 1 gallon is equal to 3.788 liter and lastly I divide the 80 dollar to 208 liter.

As you notice the actual price of gasoline per liter is 39 cents only then sold at the market at very high. Meaning the oil company earned a lot from this business because they earned to much.

Here are the approximate prices in the Philippines (retrieved 10/24/2009)

With the latest price adjustment, Seaoil now sells its premium gasoline for P32.50 a liter; unleaded, P32; diesel P29.98; and kerosene, P37.75 a liter. Shell’s unleaded gasoline is priced at P34.32 a liter; E10, P33.57; diesel, P30.23; and kerosene, P34.80 a liter.

If we are going to convert the 39 dollar cents to peso it is approximately =P=18.3456 ($1 = 47.04)

Look at the difference =P= 30 market price in philippine setting then in international market it is =P18.3456. The difference were very questionable.

The big question here :

1. Are they paying to much tax per liter,

2. How much freight per liter do they pay?

There earnings were very high. In this case may I call the attention of the department of energy (Angelo Reyes). Please checked the earnings of the oil company owners because they earned to much.

I know that the price in international market gets high. But it is not right to earned twice in time of tragedy. In this regards may I call every filipino to check the gasoline price history of the Philippines. Anyway after this post I will checked every details of the gasoline price of the Philippines.

I hope the department of energy do something about this. Please checked their earnings per liter and the price on the stock market.