Oil Price Hike

Before, they (I don't know who they are) are saying that the Philippine economy is becoming worse because the US Dollar versus the Philippine Peso is so high. They say that the oil price hike is because the Peso is decreasing its value against the dollar.

Now it's 2008 and the Dollar is the one decreasing it's value against the Peso. And again, they say the oil price hike will continue if the Dollar continues to increase it's value. What the...

They say that the diesel which is currently worth 38 Pesos may reach 46 Pesos by the end of this year. And for gas with is currently about 46 Pesos may reach 53 Pesos.

The Peso value, higher or lower it might be against the Dollar, still can't help us lift our economy. And the Philippine government says the economy is getting better just last year before the end of 2007 because of the increase of the Peso value. Now on 2008, some of them are saying that this is not a good case for our economy.

On my mind...

* Foreign investors might look for other countries. What would happened to the employees, especially those call center agents.
* How about the OFWs and their family?
* All prices will continue to increase and yet salary won't. Many businesses will also have a hard time earning money.
* Export business will lose some profit. Some may also declare a shut down of operation.
* No salary increase and yet online income opportunities will decrease its value because of the Dollar-Peso conversion.

Now, what would happen to us?