Petrol rise in pay week no surprise

I just went over to New Zealand and standard petrol price while we were there was $1.29 per litre – unleaded. NZ dollars although the exchange rate is not that much different.

I don’t know what it is now although 13 years ago when living in Germany petrol prices were 1.20DM per litre (about $1.1 AUD at the time).

We are not doing too badly.

G

ACCC has some interesting info on petrol price cycles. Check here: http://www.accc.gov.au/content/index.phtml/itemId/11938

Filled up last Wednesday at $1.047 – several in Tuggeranong at that price. Surprise, PS payday comes around and the same servos go up to $1.129. Friday comes around, they’re back to $1.047.

Good business model – inflate your prices when demand is at it’s highest.

OpenYourMind – I’m comparing prices with last week.

Year on year doesn’t have much influence on the bowser.

Jamius maximus:
I normally fill up on a wednesday on account of that’s when I have money and coincidentally also when I run out of petrol. As long as you do it in the morning, this seems to be a reasonable time.
K

I have an avid interest in oil prices and have commented on the impending world oil peak before. JB states that the oil price is ‘plunging’. This is incorrect. In fact it jumped up $1.50 odd yesterday to $48.68. That was an unthinkable price a few years ago. I watch the oil price and the petrol price and there is a very strong relationship between the two. Usually if oil drops, petrol drops soon after.

The prediction is that our next summer will see unthinkable oil prices – particularly if the Northern Hemisphere winter is a cold one. We are close to the point of world demand strongly exceeding world supply.

So what are the best days the fill up (assuming we have some kind of control over weh we do)?

Perhaps the Monday/Tuesday before PS pay day?

Funny how the price of petrol fluctuates with the international price of the raw material(s) but the price of bread or milk stays the same.

Meh. It’s still cheaper per litre than orange juice.

I’m gladdened to hear such ignorance will always keep me (economist) in a job.

Yeah, prices always go up on near PS paydays and also on long weekends. Consumer Pricing Commission thingy people have checked into it a few times and they dont believe that the price is being put up becuase of PS paydays…they believe that its just normal price fluctuations (yeah right).