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Filipinos complaining about price of gas in the Phillipnes


avelanch

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Watching TFC this morning, and apparently the highest gas price is 1.10 Pesos per litre: that's a whopping 3 canadian cents per litre... 11.36 cents per gallon for the americans on the board...

I want to know how they can possibly have such cheap gas...

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Watching TFC this morning, and apparently the highest gas price is 1.10 Pesos per litre: that's a whopping 3 canadian cents per litre... 11.35 cents per gallon for the americans on the board...

I want to know how they can possibly have such cheap gas...

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Philippines

Price per gallon of gasoline: $4.87

Rank by most expensive gas: 43

Rank by pain at the pump: 3

The Philippines is transitioning to a manufacturing and services economy from one based primarily on agriculture. Demand for cheap energy is high. Wages aren't.

Filipinos' pain at the pump is partly offset by an unconventional energy resource available to their economy. The country is the world's second-biggest producer of geothermal energy after the U.S., according to the International Geothermal Association. The island nation of 95 million people and 7,100 islands uses this natural energy source for about 17 percent of the country's energy needs.

The average daily income is $7.11. The share of a day's wages needed to buy a gallon of gas is 69 percent. The average daily consumption is 0.03 gallon, the fourth-lowest after India, Pakistan and Turkey.

http://www.bloomberg.com/slideshow/2013-02-13/highest-cheapest-gas-prices-by-country.html#slide44

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Philippines

Price per gallon of gasoline: $4.87

Rank by most expensive gas: 43

Rank by pain at the pump: 3

The Philippines is transitioning to a manufacturing and services economy from one based primarily on agriculture. Demand for cheap energy is high. Wages aren't.

Filipinos' pain at the pump is partly offset by an unconventional energy resource available to their economy. The country is the world's second-biggest producer of geothermal energy after the U.S., according to the International Geothermal Association. The island nation of 95 million people and 7,100 islands uses this natural energy source for about 17 percent of the country's energy needs.

The average daily income is $7.11. The share of a day's wages needed to buy a gallon of gas is 69 percent. The average daily consumption is 0.03 gallon, the fourth-lowest after India, Pakistan and Turkey.

http://www.bloomberg...ry.html#slide44

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