FUEL PRICES ARE LOW

The fuel supply is plenty and the demand for it is low. That is why we noticed that the fuel prices are low. The diesel oil cost around 26 pesos and the gasoline cost around 30 pesos. The USA is one of the top consumer of the world fuel. Now that they are experiencing crisis, their spending is now focus in the basic needs rather than the extra-curricular spending. The Arabian countries that produce the fuel of the world are now on a surplus basis. Their no. 1 customer, USA, is not buying their fuels. In every fuel, there is what they call Octane Rating. The higher the octane the better. Storing the fuel too long would decrease the octane rating of the fuel. That is why Arabian countries are now selling the fuels almost 60% off the normal price during the boom of the USA's economy. The decrease in the fuel prices will continue until such time the USA gets out from the crisis that they are in right now. Expect more petroleum prices rollback in the next few weeks and months. Many economist believed that the USA won't make the it this year. it would be a miracle for Obama to pullout America from the crisis scenario.