Today. rough oil monetary value is valued at $ 53. 30 per barrel. but is still in contention with other beginnings of energy such as biofuels. Biofuels today are acquiring cheaper and cheaper due to the new engineerings such as the development of several other feedstocks such as Jatropha and maize stover. However. in Malaysia. due to the dropping down of oil monetary values during the past 6 months. their proposed biofuel which is made from palm oil is enduring because soon. regular Diesel monetary values are much cheaper than blended Diesel. Monetary values are RM 2.

80 for blended Diesel. compared to the RM 1. 70 monetary value of regular Diesel. Transportation system Costss In the Philippines. transit costs went down by a illumination sum. sing that the gas monetary values at that place have already gone down by about 50 % . Fare monetary value for the most popular manner of conveyance – the jeepney is discussed in the undermentioned sentences. Transport groups in the Philippines are reasoning that they are still in large shortages sing that during the extremum of the oil monetary value hiking. menus are merely P7. 50. merely P1.

50 higher than when the Diesel monetary values were about half of the value of the extremum monetary values. Currently. conveyance costs are P7. 00 even when the monetary value of Diesel is down to P22. 60 from a high of about P54. Other manners of conveyance experient additions but have already reverted back to their original monetary values after the costs of gasolene and liquefied crude oil gas ( chief fuel for most of the cab cabs ) have gone down. Cost of Food During the 2007 planetary nutrient crisis. the universe experienced rising prices in the monetary values of basic goods such as maize.

This is due to the nutrient versus fuel argument which was sparked by the avidity of the full universe to encompass the usage of biofuels. Today. the monetary values of maize and other basic nutrient harvests have been stabilized thanks to the development of other stuffs that can be used to bring forth the ethyl alcohol needed for biofuel blends. Some of these new stuffs include workss such as Jatropha every bit good as Marine algae. Soon. authoritiess are get downing to modulate the sum of land which can be used for the planting of harvests that will be used for ethanol production.