Philippines: The price per gallon
The Philippines ranked 46th in Bloomberg’s list of countries with the most expensive gas. In 2013, we ranked 43rd.
But as a percentage of an average day’s wages needed to buy a gallon of fuel — Bloomberg calls it “pain at the pump” — Filipinos actually have to pay the 3rd most out of all countries in the list. The price per gallon of gasoline in the Philippines this year is $4.48, roughly Php 200. But because our average daily income is $8.04, or less than Php 500, more than half of a daily wage is needed to purchase one gallon of fuel.
Conclusion? Our gasoline isn’t actually that expensive in pure dollar terms, but it is very unaffordable compared to our average income.
By comparison, a gallon of fuel in Norway nearly costs $10, but with average daily income at $273, it only takes 3.6 percent of their daily wage to purchase a gallon. Norway ranks 52nd on the pain of the pump index.
At the opposite end of the spectrum, gas in Venezuela costs $0.04 per gallon, or about 2 pesos. Filling up there would cost you less then Php 20 for a full tank.
Pakistan topped the pain at the pump index, while India was 2nd.
If it’s any consolation, geothermal energy is helping ease our pain at the pump. 17 percent of our total energy needs come from natural sources.
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