Any Doubt On Which Way This Chart Is Going?
Just a quick update here because one of the things that fellow expats always seem to talk about here in the Philippines is the cost of gas … and this is a big question people thinking about moving here always have.
In general, us expats are a poor source of information, for two reasons:
- We usually don’t know the up-to-date prices in the US.
- We don’t correctly calculate the true cost of gas here.
Gas and diesel here in the Philippines are sold by a Peso per liter price. (by the way, liter is almost always mispronounced “litter” here, they are talking about liquid measure, not stretchers or dog offspring)
Here’s a reliable source of real-world fuel prices in the US, updated regularly and broken down by market areas …the price of gas in Omaha is a lot different than in LA … http://www.fuelgaugereport.com/
There are 3.87 liters in a gallon … many people like to just think of it as 4, but that will throw your calculations off by a lot. A current example, as of this morning, diesel fuel which is what I use is 36.88 pesos per liter here in Marilao Bulacan. That means the cost per gallon is 3.87 x 36.88 or 142.7256 Philippine Pesos per gallon.
The most up to date source of “real” currency exchange rate is here: xe.com/ucc. The current “mid commercial” rate is 43.28 Pesos per Dollar, so a gallon of diesel will be $3.30 USD if you buy it this morning.
Gasoline is normally a peso or two more per liter that diesel, so you can use these figures as a guide if you are among the “hard of thinking” who won’t buy a diesel car … personally I will never go back to gasoline. The examples are very current:
Comparative pump prices are as follows:
Diesel: Chevron P36.70/liter, Shell P36.88/liter, Petron P36.98/liter
Unleaded: Shell and Petron P41.15/liter, Chevron (Caltex) P42/liter
Premium: Shell and Petron P42.30/liter, Chevron P42.85/liter
So, does it cost more in the Philippines or less? It depends. This week in Los Angeles a gallon of diesel is $3.68, in Omaha it is $3.40 and in Kearny, NJ (home of the Soprano family) it is $3.39. So now you know. Surprisingly close but the Philippines is usually a little cheaper than the US averages … if you know how to calculate it.
Related posts:
- Still Going Up — No End In Sight
- Costs Are Relative — Cost of a Gallon of Gas, etc.
- ForEx Is Not Just A Trader’s Game
- Always Popular — Cost Updates
- Pesos per Dollar, Pesos per Liter, My Waistline — All 40 Plus
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