Buying confidence stays despite oil price hikes


JUST as we are seeing signs of Covid-19 infections easing up steadily, our joy is somewhat suddenly overshadowed by this continuous shock of oil price hikes hitting us with seeming impunity.  Continuous because on Tuesday, we got hit by yet another increase.

The price adjustments: +P1.15 per liter of gasoline, +P0.45 per liter of diesel, and +P0.55 per liter of kerosene.

This marked the ninth straight week of spikes in fuel prices for a total of almost P20.  Will it reach P100/liter?

I remember in the late 60s and early 70s, a mere one-centavo per liter increase would already trigger a massive rally culminating in Plaza Miranda, the demonstrators angrily demanding, through fiery speeches by their leaders, a price rollback.

“Those were the days, my friend, we thought they’d never end” goes the line of a song written by Paul McCartney.

Oil prices are dictated by the world market and non-oil producing countries like us are at the mercy of the black gold monopolists, such as Saudi Arabia, Iraq and our spitting distance neighbor Brunei.

Such is oil power that its slight demand could automatically cause a surge in prices of commodities and services.  At the moment, it is abetted by the steady recovery of world economies as virus infections continue to wane.

Our jeepney drivers have been denied a three-peso increase in minimum fare and, in exchange, the government has pledged a P1-billion subsidy to 178,000 or so public utility drivers extending up to Christmas.  Fair enough.

Now, the question: Will the oil price hikes affect the buying confidence of our car buffs?  Will they now prefer public conveyances over the comfort provided by a private vehicle?

I don’t think so.  By nature, man will always prefer riding in his own vehicle—no matter the cost.  The sense of self-fulfillment will forever prevail over expenses that can, in their stubborn-driven reckoning, be earned anytime anyway.  Hard work will help him roll with the punches.

Fortuner, Hilux reinvented

TOYOTA’S latest GR-S variants have been introduced recently at the Clark International Speedway. Nadinne Capistrano reports:

Motorsports fans were given a glimpse of Toyota Gazoo Racing’s lineup as its highly popular models Fortuner and the Hilux get the GR Sport (GR-S) badge during a practice lap before the second leg of the TGR Vios Cup got flagged off.

“We mark another milestone as we combine the reliable IMV platform with Toyota Gazoo Racing’s spirit of thrill!” TMP President Atsuhiro Okamoto said at the launch.

The GR-S badge symbolizes the development of the vehicle guided by TOYOTA GAZOO Racing—Toyota’s global motorsports division focusing on specialized research and production of cars built with racing DNA.

Both models will be available starting November 3, with the Fortuner GR-S priced at P2,509,000 and Hilux GR-S at P2,005,000 (emotional red) and P1,985,000 (super white or black mica).

Visit for more details.

PEE STOP Pathfinder Co., Ltd. (Pathfinder), represented by air race pilot Yoshihide Muroya, and Lexus have partnered for the Air Race World Championship set next year, said Jade Sison. The race aims to create a carbon-neutral society in the near future…The Isuzu La Union was recently opened in Brgy. Paringao, Bauang town. In his inaugural speech, Isuzu president Hajime Koso said: “Now our La Union customers will enjoy the benefit that our partnership brings—Isuzu’s world-class products and services.” Cheers!

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