Browse Forums General Discussion 1 Oct 10, 2008 10:10 pm 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 9676 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 86801 Hi When it rains in a particular direction water comes through the security door. It hits the main door and the bottom swells and jams. There is already a cover over the… 0 38811 |