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Fuel up again!

By 15 September 2011 28

From $1.349 at 6p.m. to $1.49.9 at 8:30pm, same day at the New 7-11 at Holt WTF???

How’s your area coping?

Thursday 14, September.

Mark that as another slash on the throats of motorists.

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28 Responses to Fuel up again!
#1
Holden Caulfield10:15 am, 15 Sep 11

This is news? Haven’t we been seeing variations like this for several years now?

#2
shirty_bear10:42 am, 15 Sep 11

The bit that bugs me is this (with numbers off the top of my head, but am confident they’re indicative):
in the last 6-12 months, broadcast barrel oil cost has dropped from ~US$110 to ~US$85, while the AU$ has climbed from ~US$0.90 to ~US$1.05 … so the barrel cost here in Aus should have dropped by 30-40%, right?
(Suspect the idea of “barrel cost” is an over-simplification, but surely all oil prices are related? If not, then why on Earth would we hear prices for a product that’s irrelevant to us?)

Notwithstanding, when the barrel price goes up, the oil companies waste no time using that as an excuse to jack up the petrol price. By this logic, petrol should have got significantly cheaper, right? But it’s scarcely moved in that time frame..

Where’s the disconnect? Oil company rip-off is an attractive, simple conclusion. I really hope there’s more to it.

#3
thatsnotme10:49 am, 15 Sep 11

It was $1.49 in Sydney yesterday morning – so if anything, we got a few hours grace in Canberra.

#4
fgzk10:58 am, 15 Sep 11

We produce a light crude oil that “suits” only some products. The Middle East crude is thick like molasses and makes excellent petrol. Oils aint oils.

shirty_bear said :

The bit that bugs me is this (with numbers off the top of my head, but am confident they’re indicative):
in the last 6-12 months, broadcast barrel oil cost has dropped from ~US$110 to ~US$85, while the AU$ has climbed from ~US$0.90 to ~US$1.05 … so the barrel cost here in Aus should have dropped by 30-40%, right?
(Suspect the idea of “barrel cost” is an over-simplification, but surely all oil prices are related? If not, then why on Earth would we hear prices for a product that’s irrelevant to us?)

Notwithstanding, when the barrel price goes up, the oil companies waste no time using that as an excuse to jack up the petrol price. By this logic, petrol should have got significantly cheaper, right? But it’s scarcely moved in that time frame..

Where’s the disconnect? Oil company rip-off is an attractive, simple conclusion. I really hope there’s more to it.

#5
OpenYourMind11:14 am, 15 Sep 11

Generally speaking, the terminal gate price of fuel follows the crude oil price. People who bitch and moan about it only do so when there’s a shift in price upward. If you do a search for ‘terminal gate price’, that’s the price the terminals are selling it at. Sometimes we even pay less than that price.

There’s one thing worse than this bitch and moan, and that’s the people that think that the petrol station should sell out of whatever is in their underground tanks and then change the price. It’s some sort of weird arsed thinking that each litre that comes in is somehow magically tracked and should only be sold for whatever price it was bought at. It just doesn’t work that way.

Even at $2 per litre, petrol is one of the best value things you will ever buy. It’s a limited resource, it has to be searched for, drilled for, processed and transported to you and sometimes wars are fought over it – just so you can drive your big arsed car to the shops.

#6
KaptnKaos11:28 am, 15 Sep 11

In the $1.30′s in tuggers this morning. That’s nothing though, if you believe CSIRO and it’s predictions we’ll be paying $8 litre by 2015.

Agree with shirty_bear @ #2, if the barrel costs of crude are down everywhere, why are our prices still up, answer = greedy oil companies and gutless governments.

#7
john87_no111:42 am, 15 Sep 11

shirty_bear said :

The bit that bugs me is this (with numbers off the top of my head, but am confident they’re indicative):
in the last 6-12 months, broadcast barrel oil cost has dropped from ~US$110 to ~US$85, while the AU$ has climbed from ~US$0.90 to ~US$1.05 … so the barrel cost here in Aus should have dropped by 30-40%, right?
(Suspect the idea of “barrel cost” is an over-simplification, but surely all oil prices are related? If not, then why on Earth would we hear prices for a product that’s irrelevant to us?)

Notwithstanding, when the barrel price goes up, the oil companies waste no time using that as an excuse to jack up the petrol price. By this logic, petrol should have got significantly cheaper, right? But it’s scarcely moved in that time frame..

Where’s the disconnect? Oil company rip-off is an attractive, simple conclusion. I really hope there’s more to it.

++++1111111 please someone explain that??!?

I have always wondered why diesel is less refined but more expensive than petrol – anyone?

#8
Erg012:06 pm, 15 Sep 11

I’m going to take a stab and guess that it has somethign to with Keynesian economics.

#9
Eppo1:11 pm, 15 Sep 11

OpenYourMind said :

People who bitch and moan about it only do so when there’s a shift in price upward.

I get so peeved when shops have sales and sell things more cheaply!! Grrr…make me pay more.

I stopped caring about the cost of fuel about 2 years ago when I got into (motorised) 2 wheel transport. You might all get to feel smug in your heating during winter, but I get to feel smug at the servo :)

#10
arescarti421:55 pm, 15 Sep 11

OpenYourMind said :

Even at $2 per litre, petrol is one of the best value things you will ever buy. It’s a limited resource, it has to be searched for, drilled for, processed and transported to you and sometimes wars are fought over it – just so you can drive your big arsed car to the shops.

+1

Think about it, what else can you buy for less than $2 a litre? You’d struggle to buy a litre of coke for less than you’d pay for a litre of petrol. And really, what would you rather be without?

#11
what_the2:08 pm, 15 Sep 11

john87_no1 said :

shirty_bear said :

The bit that bugs me is this (with numbers off the top of my head, but am confident they’re indicative):
in the last 6-12 months, broadcast barrel oil cost has dropped from ~US$110 to ~US$85, while the AU$ has climbed from ~US$0.90 to ~US$1.05 … so the barrel cost here in Aus should have dropped by 30-40%, right?
(Suspect the idea of “barrel cost” is an over-simplification, but surely all oil prices are related? If not, then why on Earth would we hear prices for a product that’s irrelevant to us?)

Notwithstanding, when the barrel price goes up, the oil companies waste no time using that as an excuse to jack up the petrol price. By this logic, petrol should have got significantly cheaper, right? But it’s scarcely moved in that time frame..

Where’s the disconnect? Oil company rip-off is an attractive, simple conclusion. I really hope there’s more to it.

++++1111111 please someone explain that??!?

I have always wondered why diesel is less refined but more expensive than petrol – anyone?

Yep, diesel is a by-product of producing petrol, however it’s now taxed at a much higher rate than petrol. Remember the days when diesel used to be half the price of petrol??

#12
Henry822:37 pm, 15 Sep 11

what_the said :

Remember the days when diesel used to be half the price of petrol??

It was? :o

#13
john87_no13:35 pm, 15 Sep 11

arescarti42 said :

OpenYourMind said :

Even at $2 per litre, petrol is one of the best value things you will ever buy. It’s a limited resource, it has to be searched for, drilled for, processed and transported to you and sometimes wars are fought over it – just so you can drive your big arsed car to the shops.

+1

Think about it, what else can you buy for less than $2 a litre? You’d struggle to buy a litre of coke for less than you’d pay for a litre of petrol. And really, what would you rather be without?

But my car doesn’t use 60L of Coca Cola a week to run – it uses Texas Tea, black gold, coal oil, crude, fossil oil, petrol, petroleum , rock oil – you may have heard of it.

I believe that Australians are paying more than we should for most items including clothes, food, tech, ect ect. The A dollar goes up and no imports get cheaper?? How is that possible? How do we pay more for nearly all electronic goods than every other developed country? Something is wrong in the retail industry and has been for quite some time now.

Im looking at you Mr Harvey!

#14
Jivrashia3:35 pm, 15 Sep 11

Erg0 said :

I’m going to take a stab and guess that it has somethign to with Keynesian economics.

Does it explain the presence of COLLUSION?

#15
Rollersk8r4:38 pm, 15 Sep 11

arescarti42 said :

OpenYourMind said :

Even at $2 per litre, petrol is one of the best value things you will ever buy. It’s a limited resource, it has to be searched for, drilled for, processed and transported to you and sometimes wars are fought over it – just so you can drive your big arsed car to the shops.

+1

Think about it, what else can you buy for less than $2 a litre? You’d struggle to buy a litre of coke for less than you’d pay for a litre of petrol. And really, what would you rather be without?

+2

Compared to what we’ve become conditioned to paying for bottled water and coffee etc, petrol’s still extremely cheap.

#16
wildturkeycanoe5:11 pm, 15 Sep 11

Update.
As of this afternoon it’s back to $1.39. Again ..WTF??

#17
Jethro6:41 pm, 15 Sep 11

The more important question… are they still giving away free pies and sandwiches?

#18
wildturkeycanoe7:55 pm, 15 Sep 11

What’s going on? I went past at around 6:30 and it’s gone up to $1.499 again. They can’t make up their mind. Technical glitch or opportunistic marketing?

#19
LSWCHP8:39 pm, 15 Sep 11

I filled up in Giralang this morning at aabout $1.37. Went past on the way home at 18:30-ish and it was $1.51.

Bullshit.

#20
Innovation6:57 am, 16 Sep 11

Really? 15 or 20c per litre or about $12 to $16 for an 80 litre tank? Perhaps those who can will look at more sustainable alternatives like combining or limiting trips, more fuel efficient vehicles, public transport, walking or cycling. Those who can’t …. and there are less of you than you might think…..just put $20 in your tank when the prices are up instead of just “filling up”. It’s more fuel efficient to carry less fuel around anyway.

Perhaps when fuel is more realistically priced (and in Utopia when other on road costs are built into fuel costs or at least based on distance travelled) people will start to plan their trips accordingly.

#21
braddonboy8:26 am, 16 Sep 11

Wonder how the fuel companies would react if everybody stopped driving for one day a week – diesel vehicles one day, petrol on another.

#22
what_the8:51 am, 16 Sep 11

braddonboy said :

Wonder how the fuel companies would react if everybody stopped driving for one day a week – diesel vehicles one day, petrol on another.

Doesnt work, heres why
http://www.snopes.com/politics/gasoline/nogas.asp

#23
Postalgeek10:23 am, 16 Sep 11

If you’re complaining about fuel prices now, you’re in for a world of hurt in the years to come.

#24
damien haas10:24 am, 16 Sep 11

There is a facebook page for canberra fuel prices:

http://www.facebook.com/home.php?sk=group_119037621511363

#25
welkin3111:54 am, 16 Sep 11

Looks like shirty_bear and KaptnKaos are correct – this graphic shows pump prices should have been falling for three months.
http://www.warwickhughes.com/blog/

#26
Mysteryman1:55 pm, 16 Sep 11

welkin31 said :

Looks like shirty_bear and KaptnKaos are correct – this graphic shows pump prices should have been falling for three months.
http://www.warwickhughes.com/blog/

Is this actually a surprise to anyone? It’s been like this for years.

#27
shirty_bear3:03 pm, 16 Sep 11

Mysteryman said :

welkin31 said :

Looks like shirty_bear and KaptnKaos are correct – this graphic shows pump prices should have been falling for three months.
http://www.warwickhughes.com/blog/

Is this actually a surprise to anyone? It’s been like this for years.

No, it hasn’t. In the past, it fluctuated. Up and down. Now it’s not coming down when it should.

#28
Mysteryman3:39 pm, 16 Sep 11

shirty_bear said :

Mysteryman said :

welkin31 said :

Looks like shirty_bear and KaptnKaos are correct – this graphic shows pump prices should have been falling for three months.
http://www.warwickhughes.com/blog/

Is this actually a surprise to anyone? It’s been like this for years.

No, it hasn’t. In the past, it fluctuated. Up and down. Now it’s not coming down when it should.

Really? I seem to recall a similar thing happening in 2009/10 after the GFC – especially when our dollar was climbing. The cost of oil dropped from nearly US$140 a barrel down to almost US$40 (while our dollar lost about 30% of it’s value against the US). It was at about $70 per barrel by the time our dollar was trading at 95c to the US dollar, but we were still paying close to $1.40 a litre, despite the noticeably cheaper cost of crude oil and stronger Aussie dollar.

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