Lower fares expected as fuel prices drop

Posted by ednathan on October 31, 2008 · Leave a Comment

by Ednathan Thadeu Andrada
nathanandrada.wordpress.com

Pump prices drastically dropped yesterday pushing renewed calls for reduced transport fare prices in buses and jeepneys. Fortunately for commuters, they will get their wish after the All Souls weekend when transport groups and the government agreed by principle to implement it. After all, diesel, which fuels most of our public transport, dropped by five to six bucks per liter.

Despite declining pump prices in the past few weeks, yesterday’s reduction is the biggest. Petroleum products continue to slope downwards since the financial crisis, that has now engulfed the world, broke out. This trend points to falling demand in the United States but consumers there are not complaining. At least driving their SUVs would not mean they have to cut their basic cable subscriptions.

However, some feel this is merely a token effort on the part of the oil companies. In addition, the left in the House of Representatives are pushing for the Oil Deregulation Law, which was intended to promote completion in the oil industry, to be repealed and even the conservatives in the Senate are calling for added taxation to the likes of Shell, Petron, and Chevron in an attempt to unlock their books to the public.

But what does it really mean to Juan the retail store employee? For a hundred bucks per day, perhaps he will get to save at least P6 when commuting to work and back to his home. That is enough to buy coffee during his break. Something he deserves for working his ass off for the last 10 years yet not able to pay his bills on a regular basis.

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