why is it in the Philippines, dollars decrease its value to peso but the gasoline still increasing its price?
2007-05-30 06:22:06 · 3 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Those are two different questions that are unrelated.
2007-05-30 06:26:00 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Good question. Do you mean the price of gasoline in the Philippines or in the U.S.? Under President Marcos, rampant money laundering and an exceedingly poor fiscal policy caused the Filipino piso to devaluate rapidly. Under President Gloria, stability has been brought to the Filipino economics, bringing the value of the piso up compared to the U.S. dollar. Meanwhile, the value of U.S. dollar continues to erode due principally to inflation and the U.S. buying abroad more than we export.
As to gasoline, supposedly a greater demand drives up the cost of gasoline, as the billions of Chinese become rich because they sell products to the U.S. and sell body parts on the black market and thus start driving cars. Fortune magazine predicts they will put a billion cars on the road by 2020; that is more cars than on the road WORLDWIDE now, which is about 800,000,000 cars.
2007-05-30 13:29:18 · answer #2 · answered by Nothingusefullearnedinschool 7 · 0⤊ 0⤋
Money!! ;)
2007-05-30 13:27:03 · answer #3 · answered by Anonymous · 0⤊ 0⤋