A big drop in cooking gas sales

The economy of the Philippines continues to suffer. It is funny to hear GMA continue talking about how the economy is improving in the Philippines. Can she not read the newspapers? I found this interesting fact in an article on INQ7 Money.

Here is the interesting quote:
“According to data from the Department of Energy, fuel sales in 2005 dropped to 109 million barrels from 118 million barrels in 2004. Sales of liquefied petroleum gas, used mainly for cooking, were down 25 percent.”

Well, we all know that the population of the Philippines is increasing so demand should be going up every year. Now demand is falling, this isn’t a big problem for fuel, it can mean that people are conserving more fuel. The disheartening fact is that LP Gas for cooking has recorded a 25% drop. This means either one thing, people are not cooking as much anymore or they have resorted to alternative fuels like charcoal. I think it is a combination of the two. This doesn’t bode well for Philippine consumers.

But never fear, Pilipinas Shell has seen another banner year of profits:
“Pilipinas Shell had net income of 5.7 billion pesos (108 million dollars) last year, nearly double the 2.98 billion pesos it recorded in 2004.”