Browse Forums General Discussion 1 Oct 10, 2008 10:10 pm Ok a few minutes spent surfing and I came up with this:
Oct 2007 Oil = USDollars $86 per barrel Average Price $125.2 cents per litre Low price $114.9 cents per litre Oct 2008 Oil = USDollars $87 per barrel Average Price $151.5 cents per litre (approx) Low price $145.9 cents per litre (approx) SO refining has gone up a bit ... OK There is no CPI increase on the tax ... OK The GST is still there (shouldn't be but is) .. OK Anyone care to explain?? Perhaps the CEO's of the Oil companies are like tha banks and only passing on 80% of the decreases at a time when they want to? They (like banks) are very quick to chase the barrel price up but OOHHH SOOO SLOW to bring it back down... (boy 2 political threads in 1 week...need to stop this!!) Re: Why isnt the price of petrol coming down?? 2Oct 10, 2008 10:15 pm mattwalker Ok a few minutes spent surfing and I came up with this: Oct 2007 Oil = USDollars $86 per barrel Average Price $125.2 cents per litre Low price $114.9 cents per litre Oct 2008 Oil = USDollars $87 per barrel Average Price $151.5 cents per litre (approx) Low price $145.9 cents per litre (approx) SO refining has gone up a bit ... OK There is no CPI increase on the tax ... OK The GST is still there (shouldn't be but is) .. OK Anyone care to explain?? Perhaps the CEO's of the Oil companies are like tha banks and only passing on 80% of the decreases at a time when they want to? They (like banks) are very quick to chase the barrel price up but OOHHH SOOO SLOW to bring it back down... (boy 2 political threads in 1 week...need to stop this!!) Other than retaining profit, there is also exchange rate difference ? Be prepared for higher petrol cost given that AUD has dropped to USD $0.70 this few days.... Re: Why isnt the price of petrol coming down?? 5Oct 10, 2008 11:30 pm when interest rates go up you don't hear the banks say "actually although the reserve bank is puting up rates by .25% it is only costing us .20% more so we will only raise it by that"
oil companies are the same... but what does our government do about it??? nothing!! Re: Why isnt the price of petrol coming down?? 6Oct 11, 2008 1:36 am Here's an article from the age that explains it (and other things) very well...
Essentially it is because the Australian dollar has tanked - page three is where it starts talking about the oil. http://www.theage.com.au/national/austr ... -4xij.html An excerpt: Quote: Yesterday, the average price of petrol in Melbourne was $1.57, according to the Australian Competition and Consumer Commission. When the crude oil price peaked in July, the average price weekly was about $1.64 - a fall of about 4%. So, over the period crude oil has dropped by about 40%, Australian petrol has fallen by about 4%. Part of the reason for this is that oil is sold in US dollars. Another part is that it is sold in US dollars in Singapore, the regional hub for petrol refiners....... ......What this means is that pump prices are wedged between a depressed Aussie dollar and a depressed oil price. If the dollar recovers first, bowsers may get cheaper. If oil jumps up again, it may be time to buy a bicycle. After 2 false starts, a year living overseas, two more world trips and 3 years of uncertainty we are now starting the build process again - hopefully for real this time! Re: Why isnt the price of petrol coming down?? 7Oct 11, 2008 9:40 am muzzman Here's an article from the age that explains it (and other things) very well... Essentially it is because the Australian dollar has tanked - page three is where it starts talking about the oil. I don't buy that, the dollar only started dropping a few weeks ago.. oil has been under 100 a barrell for longer than that. Re: Why isnt the price of petrol coming down?? 8Oct 11, 2008 10:20 am Quote: I don't buy that, the dollar only started dropping a few weeks ago.. oil has been under 100 a barrell for longer than that. Chris My father rode a camel, I drive a car, my son flies in a jetliner, his son will ride a camel.Saudi saying Re: Why isnt the price of petrol coming down?? 9Oct 11, 2008 10:32 am kristofw Quote: I don't buy that, the dollar only started dropping a few weeks ago.. oil has been under 100 a barrell for longer than that. Chris How nice of the oil companies to hedge by buying oil futures. So it makes perfect sense that even though the price of oil has dropped, it will take a while for the petrol price to drop. Hedging smoothes out things. So, why is it when the oil price rises, the petrol price goes up immediately. All that matter is the oil price in Australian dollars today. So look at the oil price in US dollars, look at the exchange rate and that's it. Talk of hedging, Singapore, etc are just there to confound the mug ... I mean consumer. Demolition August 2009, Construction Started September 2009, Completed December 2010 Re: Why isnt the price of petrol coming down?? 10Oct 11, 2008 10:52 am Casa2 wrote Quote: So, why is it when the oil price rises, the petrol price goes up immediately. As I said Quote: Then there's an attempt by all links in the oil production and distribution chain to squeeze as much as they can from it. Chris My father rode a camel, I drive a car, my son flies in a jetliner, his son will ride a camel.Saudi saying Re: Why isnt the price of petrol coming down?? 11Oct 11, 2008 11:02 am kristofw Casa2 wrote Quote: So, why is it when the oil price rises, the petrol price goes up immediately. As I said Quote: Then there's an attempt by all links in the oil production and distribution chain to squeeze as much as they can from it. Chris Well, once the financial crises causes conditions like the great depression of 1930, we'll all be forced to use pushbikes - but we'll have nowhere to go since we'll be unemployed and after the run on banks, we won't be able to withdraw any money to go shopping! Demolition August 2009, Construction Started September 2009, Completed December 2010 A Sabco spin mop, minimal moisture, not very regularly. I was told these hybrids are water resistant 🤷♀️ 2 9486 Get some long brass machine screws and bolt right through the gate and put brass acorn nuts and washers on the other side. It will never come off 1 9313 Chemtrails, only the most disproven conspiracy theory in the history of conspiracy theories. You've gone in the deep end, drowned, and are now a mindless bloated… 5 86683 |