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‘Ere we go, ‘Ere we go, ‘Ere we go! Petrol to drop under $1 a litre.

johnboy 26 November 2008 33

If this is recession I say give me more!

The ABC informs us that Canberra petrol prices are going to go under $1 a litre this week despite the gloomy prognostication of the peak oil doom-mongers who bravely said it would never happen.

Interest rates plumetting, petrol prices down by more than a third. That Kevin Rudd gets things done for working families eh?

Certain mouth breathing media outlets think a shopper-docket discount price counts as a real price and have already announced this. But we’re holding out for the real thing.


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33 Responses to
‘Ere we go, ‘Ere we go, ‘Ere we go! Petrol to drop under $1 a litre.
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shiny flu 8:32 pm 26 Nov 08

Just goes to show that the people running our economies are about as intelligent as question-less devotees of celebrity gossip magazines. Just replace ‘Angelina makes 10yo child adopt another child’ with ‘Gold is really shiny and impresses people, lets sell all our shares and buy that up instead’.

Regardless of the price drop or not, using your car less is still cheaper than paying for fuel and wear & tear.

Last week I filled the V8, from almost empty, with premium, for 75 bucks. Cheering.

I think $1.20 a litre is more realistic for the medium term.

Holden Caulfield 3:54 pm 26 Nov 08

Gungahlin Al said :

Under a buck? Not seen since 2000. Yeehar. Back to filling up the little Paseo for less than $40.

Not true, although pretty close. I did get fuel for under 96¢ from Shell in Fyshwick back in April 2004.

caf 3:46 pm 26 Nov 08

OPEC can charge whatever people will pay for their product. Just like we do with our iron ore and coal.

The price gap between unleaded and premium seems not to have contracted back to what it was when fuel was last at this price, I’ve noticed.

jakez 3:42 pm 26 Nov 08

BerraBoy68 said :

jakez said :

As a young, upwardly mobile, debt free individual, this recession is turning out to be personally fantastic for me.

If I lose my job, there is always the Army Reserve.

Nothing should ever be so bad as to make you think the Army Reserve is a valid option… for anything. I spent several years in the A.Res after leaving the forces as a ‘regular’ and let me tell you, DONT DO IT! (oh, the humanity, the humanity… sob)

Please elaborate either here or in private (I can get johnboy to give you my email).

bubzie 3:31 pm 26 Nov 08

I paid 99.9 cents at calwell this morning.

It may of been with my everyday rewards card, but ..it was under a dollar! i was happy! 🙂

wishuwell 2:42 pm 26 Nov 08

Agreed johnboy and to think folk didn’t believe oil tankers were doing cicle work in the Gulf for weeks on end ’cause they didn’t have orders for their shipments. And now the oil companies are suggesting demand is falling. What ever happened to the “Northern winter approaching excuse for shortages/higher prices beyond our control”.

BerraBoy68 2:13 pm 26 Nov 08

jakez said :

As a young, upwardly mobile, debt free individual, this recession is turning out to be personally fantastic for me.

If I lose my job, there is always the Army Reserve.

Nothing should ever be so bad as to make you think the Army Reserve is a valid option… for anything. I spent several years in the A.Res after leaving the forces as a ‘regular’ and let me tell you, DONT DO IT! (oh, the humanity, the humanity… sob)

ant 2:11 pm 26 Nov 08

It won’t last. You wait. It’ll go tearing straight up to $2 in months.

And United are dropping their fares to teh US beautifully… Qantarse aren’t even in the race.

jakez 1:56 pm 26 Nov 08

Johnboy, you say that like corporate fascism is a bad thing.

johnboy 10:43 am 26 Nov 08

Actually the OPEC countries made bugger all out of the price spike, the speculators did that.

It helped that they fiddled the shipping schedules to avoid landing oil until things got desperate too.

These are pretty much the same guys we’re now mortgaging the western world to bail out so they can keep their helicopters.

tylersmayhem 10:30 am 26 Nov 08

Being more circumspect, you gotta feel less than charitable about the mongrels from OPEC who’ve been milking us for the last 8 years…

Indeed!

Wow. Now I’m really pissed I sold my RX8.

Don’t beat yourself up DLS – this low fuel price is not here to stay. Let’s see where we are in 12 months time. I suspect back up to $1.60 or $1.70 a litre, then back to $1.20 for instance. This is only a short term turn around. We have not all of a sudden warped back 9 years!

jakez 10:29 am 26 Nov 08

As a young, upwardly mobile, debt free individual, this recession is turning out to be personally fantastic for me.

If I lose my job, there is always the Army Reserve.

Ian 10:23 am 26 Nov 08

I paid 99.9 at Kippax last night, albeit with a shopper docket (real enough for me).

Regardless of what happens with oil prices and the FX rate, I am confidently predicting the price will shoot upwards of $1.20 around, lets see, 20 December.

Die Lefty Scum 9:53 am 26 Nov 08

Wow. Now I’m really pissed I sold my RX8.

Gungahlin Al 9:47 am 26 Nov 08

In the same way that home loans are coming down, but credit card and personal loan rates remain obscenely high…?

neanderthalsis 9:38 am 26 Nov 08

While unleaded seems to be heading south pricewise, diesel still hovers around the buck and a half a litre. Saturday saw unleaded at $1.11 at one of the outlets of the evil fuel empire (shell) while diesel was still $1.47.

Gungahlin Al 9:36 am 26 Nov 08

Yep I can sense a nice driving holiday down around Eden and Gippsland coming on over the Xmas break…

Under a buck? Not seen since 2000. Yeehar. Back to filling up the little Paseo for less than $40.

Being more circumspect, you gotta feel less than charitable about the mongrels from OPEC who’ve been milking us for the last 8 years…

Now will QANTAS drop the fuel levy off their ticket prices now we are back to where we were before they imposed it? Or was that really just about reducing the amount of commissions to travel agents?

willo 9:30 am 26 Nov 08

hopefully that was a misprint and they actually meant$1.47

poptop 9:28 am 26 Nov 08

KRudd is certainly getting things done, except for the working part.

We get petrol for less than a dollar, provided the Aussie Dollar doesn’t do anything untoward, like say go under$(US)0.64.

How about those whacky French Banks that are saying our dollar is going to hit $(US)0.47 sometime next year? That will be interesting!

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