Gas Gap

This is a succeeding post after my previous gas computation.

As of today, the US average price per gallon is $3.880. I did a bit of number crunching with the following assumptions, and this is what I came up with:

Philippine unleaded price per liter: P57.07 (from observation, lower than last post)

Peso-dollar exchange rate: P45.500 = USD1.00 (peso appreciation)

Gallon-liter conversion: 1 US gallon = 3.78541178 liter (well, this doesn't change)

So that’s (P57.57 / P45.500) x 3.78541178 = $4.748 per gallon in the Philippines versus $3.880 per gallon in the US! Wow, the gap's even bigger!

Put it another way, ($3.880 x P45.500) / 3.78541178 = P46.64 per liter in the US versus P57.07 per liter in the Philippines! Sheesh!