Seedbook 9: Thy Prices Shall Fall

This is such a funny post. Actually weird din. hahaha this is an entry for my concept class. my "role" here is fictitious...................................................................................................

Since my global price have plunged dramatically in reaction to the bankruptcy of Lehman Brothers, Merill Lynch and the American International Organization, more and more oil companies here in the Philippines are having price rollbacks.

After spending six months above $100, my price slumped earlier in the week because of concerns that the financial turmoil on Wall Street would slow economic growth and hurt the demand for me.

Because of high fuel and commodity prices, wider economic problems and the recent financial disasters reduced the demand for me. From my price of $140+ per barrel last July, my price now is just $97.88 a barrel.

 
The three big oil companies here in the Philippines will have a P1 roll back to their prices of me, while the smaller oil players will lessen my price by 50 centavos again. Isn't that a great news?

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source: 6th page of The Philippine Star (September 19, 2008)