Balancing Out

Ok, with oil prices hitting US$95 per barrel, this will likely create a domino effect on the prices of other consumer goods and services.

But the peso has gained considerable strength as well which should mitigate the negative impact of the rise in global oil prices.

I once read an excellent undergraduate economics thesis which found that oil companies actually implement price rises far too quickly than roll-backs.

Is there even a sensitivity analysis available? Ya know, say for every PhP0.10 cent appreciation of the peso, local oil prices should be rolled-back by how much? or for every US$1 increase in oil prices per barrel, what is the impact on local oil prices?