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The skyrocketing price of petrol

By johnboy - 15 March 2011 45

petrol prices

The Canberra Times notes that the price of middle eastern democracy movements is being felt at the petrol pumps with a swingeing $1.50 per litre out there and another 3 to four cents a litre predicted.

CommSec economist Savanth Sebastian said escalating tensions in the Middle East could drive this figure even higher to a national average of $1.45 a litre.

He expects service stations across Canberra to increase the cost of petrol by a further 3c to 4c during the next fortnight. ”Households are spending on average $30 more a month on petrol than they were six months ago.”

Without wanting to vent smug, my bicycle has cost me not a cent to run so far this year, and has some health benefits.

You can pick one up at the R-Shop in Mitchell for $20 and be on road for less than $50.

What’s Your opinion?


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45 Responses to
The skyrocketing price of petrol
shirty_bear 1:24 pm 15 Mar 11

chewy14 said :

I’d love to be able to ride to work, unfortunately the 50km per day that I have to travel makes it hard.
I’d love to be able to catch a bus to work, unfortunately the 3hrs per day I would spend on said bus makes it not worthwhile.

Same.

But I just don’t get why more Aussies (in general, and Canberrans in particular) aren’t burning LPG … the stuff works fine, and it was still all of 65c/L the other day. We’re in the market for a replacement car, and my only firm requirement is that it run gas.

Captain RAAF 1:20 pm 15 Mar 11

Rawhide Kid Part3 said :

Captain RAAF said :

georgesgenitals said :

Prius owners can save the planet, I’ll save my dignity.

How does a Prius save the planet? It takes more resources to make a new Prius than it did to make my old Ford

We all know this mate, well by we I mean everyone that does not own a Prius, but you ask the electric car crowd what they think and they will say they are single-handedly saving the world!

We should all be driving old cars, they are built already, therefore can only now create whatever CO2 that shoots out the exhaust whereas a new car, during it’s manufacturing process will pump out huge amounts of Co2. It’s our disposable society that causes all the pollution, we just keep making things that should last longer, like quality cars that were built 40 years ago.

Who cares if we save a couple of thousand people because of air bags and crumple zones, we’re killing hundreds of thousands through industrial pollution and land clearing! Wake up!!!!!

georgesgenitals 1:15 pm 15 Mar 11

A couple of things:

1) Doubling the price of a barrel of oil will not double the price of a litre of petrol. You have petrol taxes to thank for that!

2) If petrol really did get to $3 per litre, the only thing that would change is I would keep my cars a couple of years longer than I do now. Depreciation costs more than petrol anyway.

Buckaroo_Banzai 1:04 pm 15 Mar 11

Was the Prius in the foreground of the photo intentional?

Captain RAAF 1:00 pm 15 Mar 11

arescarti42 said :

Individuals and governments really need to start thinking about what they’d be doing if petrol goes to $2-3+ a litre.

ok, thinking cap on…..thinking real hard……petrol $3 a litre = …..me still driving a V8!

I’ll cut back on other things before I hang the keys up for good, or supplement my income by selling roo meat because if it’s gets to that price there’s going to be a lot of people not eating food from supermarkets!!

chewy14 12:54 pm 15 Mar 11

I’d love to be able to ride to work, unfortunately the 50km per day that I have to travel makes it hard.
I’d love to be able to catch a bus to work, unfortunately the 3hrs per day I would spend on said bus makes it not worthwhile.

Rawhide Kid Part3 12:43 pm 15 Mar 11

Captain RAAF said :

georgesgenitals said :

Prius owners can save the planet, I’ll save my dignity.

How does a Prius save the planet? It takes more resources to make a new Prius than it did to make my old Ford

Hosinator 12:37 pm 15 Mar 11

Can’t the people in the Middle East just accept the dictatorship they have, so that I can have cheaper 98 Octane.
Suck it up people, at least there is no room for those greenie leftist bastards in your totalitarian society.

georgesgenitals 12:37 pm 15 Mar 11

dtc said :

Ian said :

Strange though how all the external price drivers line up for a long weekend.

1.40 litre in Canberra on Friday; 1.50 litre in Bungendore passing through 30 minutes later.

Good things we (I) dont live in Bungendore

Johnboy – as a fellow rider I support you. But, then again, if you lived in (say) Gunghalin you may have saved $200k on buying a house and that buys an awful lot of petrol.

I don’t JB has bought a house yet.

EvanJames 12:34 pm 15 Mar 11

I imagine we’ll start hearing calls for Families to be compensated for the price rise. Although the new word for them appears to be “households” now.

arescarti42 12:34 pm 15 Mar 11

Individuals and governments really need to start thinking about what they’d be doing if petrol goes to $2-3+ a litre.

Recently there have been 2 things that have worked in Australia’s favor as far as petrol prices, the first is the strong Australian dollar caused by the commodities boom, and the second is the fact that the main consumers of oil, the USA, Europe, and to a lesser extend China and India, got smacked by the mother of all economic downturns.

If demand for oil picks up again (recovery in the USA/Europe, greater growth in the developing world) then there is no reason to think that a barrel of oil wont go back to $150+ like it was before the GFC.

Throw in the fact that the world supply/production of oil hasn’t really increased significantly since 2005, a bit of political unrest in the middle east, and a decline in the AUD and $1.5 a litre is going to look like a bargain.

From my perspective, it is another reason to be investing in public transport now.

Captain RAAF 12:26 pm 15 Mar 11

georgesgenitals said :

So the price goes up a bit? Won’t stop me pouring tankfuls of 98 octane down the throat of my new turbocharged beastie!

Same here George, don’t care how much it is. Still drive a V8 daily and will still be doing the 400Km to Albury for COTM this weekend, along with 500 or so other petrol guzzlers!

Prius owners can save the planet, I’ll save my dignity.

dtc 12:20 pm 15 Mar 11

Ian said :

Strange though how all the external price drivers line up for a long weekend.

1.40 litre in Canberra on Friday; 1.50 litre in Bungendore passing through 30 minutes later.

Good things we (I) dont live in Bungendore

Johnboy – as a fellow rider I support you. But, then again, if you lived in (say) Gunghalin you may have saved $200k on buying a house and that buys an awful lot of petrol.

georgesgenitals 12:09 pm 15 Mar 11

So the price goes up a bit? Won’t stop me pouring tankfuls of 98 octane down the throat of my new turbocharged beastie!

Ian 12:01 pm 15 Mar 11

Strange though how all the external price drivers line up for a long weekend.

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