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Oil Price Update

Oil Price Update. A Presentation to the Committee on Trade & Commerce November 20, 2007 Secretary Angelo T. Reyes Department of Energy. International vs. Domestic Prices. INTERNATIONAL PRICES December 2004 – November 2007. $/bbl. Diesel MTD Nov - $108.41 (+50.1% from Dec 06 ave.).

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Oil Price Update

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  1. Oil Price Update A Presentation to the Committee on Trade & Commerce November 20, 2007 Secretary Angelo T. Reyes Department of Energy

  2. International vs. Domestic Prices

  3. INTERNATIONAL PRICES December 2004 – November 2007 $/bbl Diesel MTD Nov - $108.41 (+50.1% from Dec 06 ave.) ULG MTD Nov - $99.03 (+45.3% from Dec 06 ave.) Dubai MTD Nov - $85.92 (+46.4% from Dec 06 ave.) LPG November - $65.57 (+50.4% from Dec 06 ave.)

  4. INTERNATIONAL PRICES DUBAI

  5. DOMESTIC PRICES December 2004 – November 2007 P/li ULG MTD Nov – P43.95 (+18.0% from Dec 06 ave.) ADO MTD Nov – P37.95 (+14.2% from Dec 06 ave.) LPG WPP MTD Nov – P26.26 (27.0% from Dec 06 ave.)

  6. CONSUMER PRICE INDEX 2006-2007 (2000=100)

  7. INTERNATIONAL vs. DOMESTIC PRICES UNLEADED

  8. INTERNATIONAL vs. DOMESTIC PRICES DIESEL

  9. INTERNATIONAL vs. DOMESTIC PRICES KEROSENE

  10. INTERNATIONAL vs. DOMESTIC PRICES LPG

  11. Calculated Domestic Prices based on Incremental Cost of Products (MOPS)

  12. Est. Increase in Fuel Generation Cost for every P1 per Unit Increase in Fuel P/kWh Source: NPC November 2005 – January 2006 Billing

  13. COMPARATIVE PRICES November 19, 2007 Pump Price in peso per liter

  14. MITIGATING MEASURES • The DOE has recommended the reduction of tariff on oil. • The inauguration of the CNG retail station in Laguna would provide the transport groups, specifically the bus companies, an alternative fuel supply. • Strict implementation of energy conservation measures in the public sector and seek close cooperation with the private sector to implement the DOE’s energy conservation and efficiency programs. • The DOE would strengthen enforcement against illegal activities to ensure that the consumers will get their money’s worth. • The DOE to address the problem of the transport sector on “kotong” and colorum.

  15. THANK YOU

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