Inq7.net: Oil prices seen going up further
“Soaring prices in the international market could be attributed to the continued threat of terrorist attacks on oil installations in the Middle East, particularly in Iraq, and the high demand for fuel in the United States brought by the summer driving season.”
Abigail L. Ho
Inquirer News Service
Posted 1 August 04
PUMP prices of petroleum products can still go up in the next several weeks, with or without an increase in import tariffs or excise taxes.
The Independent Philippine Petroleum Companies Association — which groups “new players” in the industry dominated by the Big Three companies Petron Corp., Pilipinas Shell Petroleum Corp. and Caltex Philippines Inc. — said the new players, which are all importers of finished products, still had to recover costs of 0.78 peso a liter for unleaded gasoline and as much as 3.81 pesos a liter for diesel. As this was the case, pump prices had nowhere to go but up, the group said.
An Inquirer source in the industry said oil companies could raise prices in the next few weeks as prices of crude and refined petroleum products in the world market had lately been going up.
Unleaded gasoline, based on the Mean of Platts Singapore (MOPS) benchmark for finished products, were trading in the past few days at an average of around $47.50 a barrel versus a June average of $45.19 a barrel, the source said.
The price of MOPS-based diesel has risen by almost $6 a barrel this month, from $42.84 a barrel in June to $49 a barrel in recent days.
The July 1-28 averages for MOPS-based unleaded gasoline and diesel were $46.24 and $45.98 a barrel, respectively.
The benchmark Dubai crude, which local refiners use in determining their pump prices, also reached a July 1-28 average of $34.54 a barrel from a June average of $33.43.
“Local pump prices have not kept in step with price movements in the regional spot market,” the source said. “This is due to continued social pressures in the local environment.”
Soaring prices in the international market could be attributed to the continued threat of terrorist attacks on oil installations in the Middle East, particularly in Iraq, and the high demand for fuel in the United States brought by the summer driving season.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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