We use gas as our main source of power for our cars for the internal combustion of our engines. We usually get our cars refueled by our gas stations in the city. However, the intense fluctuation of gas prices in the beginning of 2022 affects so many Filipinos is different ways. Let’s learn about the factors of these gas prices fluctuations in this article.
2022 Gas Price Fluctuations
As we all know, the price of gas fluctuates regularly. We use gas for our cars and our gas range to cook food for our family. In this article, we will discuss the gas price fluctuation in 2022 to help you understand the situation, why it happens and the different reasons behind this.
Gas prices for 2022 have been predicted to fall down at the start of 2022 but with the war happening in the other parts of the world between Russia and Ukraine, the prices of gas started to climb up.
Russia being the 40 percent supplier of Europe’s natural gas and amongst the top 10 exporters of gas in the world, it is evident that gas prices were highly affected.
Read Also: Fuel Saving Tips for You
What are the factors that affect Gas Prices?
When the price of oil increases, the price of gas follows as they are complementary to each other. There are three main factors that affect the prices of these commodities:
1. Supply and Demand
The fluctuation of gas prices for 2022 is determined by supply and demand. With the ongoing war and affected supply of gas, the price of it is bound to increase. On the other hand, when the supply is bigger than the demand, prices will fall.
2. Commodities Trade
Gas prices in 2022 are expected to fluctuate based on the commodities market. Commodities are classified into three groups: agriculture, energy, and metals. They are the commodities that trade every day in the market and therefore can result in ever-changing prices over time.
3. The Value of dollar
The value of Dollar is another factor for the fluctuating gas prices. The price of gas fluctuates when the value of the dollar declines, allowing petroleum exporting countries to trade for greater money and have a constant supply.
Ways you can save money amidst rising gas prices
If you’re someone who drives on a daily basis to and from work, you might have already felt the effect of these price fluctuations. There are ways you can do to temporarily adapt to the rising prices of gas.
Offering your vehicle for carpooling, or being the one who carpools is a great idea to cope with the rising expense in gas. For sure, many car owners, and commuters will agree to this idea as this would benefit both sides. If you will be offering the service, just make sure that your price on carpooling is just the right amount that would still enable you to earn some money whilst helping others.
2. Use of Public transportation
Public transportation in the Philippines has its flaws, but if you’re desperate to save money because of budget-hurting fluctuations, try to use public transportation instead. This might not be applicable to all since the distance and number of rides vary per person, but compared to getting your own gas, commuting on your own could be a lot cheaper.
This might be a good time to learn for those who aren’t used to doing commute. For students and senior citizens, they could also enjoy their discounts.
3. Choose a good vehicle
In times like these, it is important that the vehicle we use also doesn’t consume so much gas or fuel. Find the best fuel-saving cars for you in the market if you have the luxury of buying or exchanging your current one.
4. Use of Bicycle
Bicycles were once seen to be the greatest mode of transportation during the height of the pandemic wherein everything was on lockdown yet some of us had to go to work.
Riding a bicycle when going to and from work will definitely be a solution that would save you money and is good for your health too! Just make sure to have full gear and be careful on the road during your ride.
The Philippine Public Transportation amidst rising gas prices
Vehicle owners are one of the most affected people when it comes to the rising prices of gas. But, commuters aren’t safe at all. When we say vehicle owners, tricycles, jeepneys, and other modes of public transportation are included.
Rising gas prices in 2022, yet there aren’t many student passengers, or the working class is still in a work-from-home setup. Truly a big problem to our drivers.
If this goes on, or the gas price remains the same for long periods of time, then we might see a fare hike. Another budget hit for the regular Filipino worker.
Although there are options mentioned above to help save money on gas, and a possible hike in transportation prices, it is still quite a pain to know that carpooling, or even owning a bike is a privilege not many Filipinos can enjoy.
Live near your work
When looking for a home, it’s important to choose an accessible and strategic location. Living outside the city gives you the chance to enjoy the conveniences that people usually look for in a home. No need for long commutes or expensive transportation fares if you work in the same place as your home!
In your next or new home, choose Bria! Bria Homes offer affordable pre-selling and ready-for-occupancy house and lot packages that are fit for regular Filipino families who dream of homeownership. These homes are located in cities that has economic opportunities where you could relocate your work, and your kids for school. Now you won’t have to worry about price hikes.
Moreover, Bria Homes’ projects offer amenities great for raising kids and living a peaceful life like; a basketball court, guard house, perimeter fence, and open spaces.