In the recent news about Government’s maintaining the prices of petroleum products
The Secretary of the Department of Energy (DOE) confirmed that the Philippine Government will maintain the prices of petroleum products.The price of petroleum products is one of the most important aspects of the economy and for the people in our country.
Since its price was raised to increase the supply, the government has maintained it at pre-inflationary levels but with a two percent increase. This will help consumers by reducing their burden of cost but since it is selling at a slightly higher rate than before, this means that prices are still increasing as long as demand keeps increasing with population growth.
People are used to paying a little more for their gasoline.
But now, they have another reason to complain: the government said it’s leaving the price of oil unchanged at $3.59 per gallon. That’s the only change in fuel prices announced today by the Department of Transportation.
After this news about maintaining the prices of petroleum products, public reactions are different. Some people love it. Others think that it will hardly help the economy. Some people even say that they can’t afford to buy oil anymore. But in my opinion, there are a few things that we need to understand: First of all, this decision might be temporary or it might get permanent but it won’t change anything permanently.
Think about how much the price of petrol has changed in your country or your state or city in the last year. Or how much it is going to be in tomorrow? You see that even if sometimes it’s going down slowly if we go back up slowly…it doesn’t matter!
Because when you go back up slowly then actually you are going down again because in the future there will be another wave of demand and prices will rise again. So these little changes either stay for a few weeks, months, or years.
The Government’s decision to maintain the prices of petroleum products continues to attract attention. The decision marks an improvement for consumers, who will be able to lower their household costs and make smarter choices.
Government’s decision to maintain the prices of petroleum products.
The price of crude oil rose again today with a rise in nine of the world’s leading crude-oil-producing countries and challenges faced by the key US shale oil producers that have driven up Western benchmark crude oil prices since mid-2014, also called West Texas Intermediate.
The government’s decision to maintain the prices of petroleum products.
Might affect the revenue that was expected to be generated by this sector. This can lead to low revenue generation because people are not willing to pay more when they get their necessities at the same price they were paying before.
After this news about maintaining the prices of petroleum products, public reactions were mixed. Some people said that it was a good decision because petroleum products are expensive in our country and for people who like to use them, the price should be affordable.
Others were hurt by hearing this news because they earn lower wages and therefore will have to make a sacrifice for their families.After this news about managing the prices of petroleum products, public reactions varied. Some were optimistic and some were angry.
After the Government decides to maintain the prices of petroleum products, public reactions vary from praising the government decision to put it under review and increase taxes to criticizing them. However, most supporters of the decision believed that the cost of goods like gas and fuel should be controlled by the government and should not be left to private companies that can decide their pricing.
The Government decision to maintain the prices of petroleum products by reducing excise duty on petrol and kerosene has come as a major relief to millions of people. We are confident that this decision will help cushion the impact of the rising prices on our daily needs like food, medicines, and other essentials.