My monthly gasoline expenses have reached Php 6,000 and I am feeling the pain. It’s up from Php 4,000 less than a year ago.

The price of oil in the worl market is now predicted to even hit $200 per barrel. At that rate, we can expect gasoline prices to reach Php 100 in a year.

God help us!

The peso has risen more than 12% this year to the dollar. From Php 49 at the start of the year, the peso is now in the mid Php 43. What this means for our OFW’s is the weakening of their purchasing power.

The GMA government boasts that the economy is improving and thus, the peso is appreciating. Fact is, the dollar is weak against most currencies. Normally, prices should go down when the pesos appreciates. Unfortunately, since it is the dollar that is just weak, price of imports from all other countries remain the same or have risen.

I was talking to an importer friend who told me that majority of China exporters have raised their prices. Their common reason is the weakening of the dollar.  Since most of our goods are China made, we can’t expect prices to go down.

The peso is seen to strengthen to Php 41 next year. This is more bad news to our exporters and OFW families.