Oil Down To $35 per Barrel

[Mr Hardware]

Thanks Stefan. I'm glad someone else knows how it all really works.

[ea90gl]

How can they not be ripping us new holes? Just over a month or so ago barrell was the $35-$40 mark and aussie dollar was around 65-70c petrol was at $1.10 at the most. Now the barrell is between $35-$40 and the aussie dollar roughly 63-68c yet when I just drove past the servo's it's at $1.32 at the most. WTF justifies a 20c increase in a few weeks? I'd love to know

[Rodp]

Originally Posted by Mr Hardware

Possibly, but i sure as hell wouldn't be liking to live on 2001 wages in 2009, and i'd guess the hard working guys at BP wouldn't like to be either.

You obviously don't work in IT.

The disparity between the price of oil per barrel and the exchange rate between then and now doesn't account for the difference in what they're charging at the pump.

Someone does have their sticky fingers in the pie.

[vztrt]

Originally Posted by burnz

1 aus dollar = 1 sin dollar
we are even priced (someone is profiteering)

Actually when oil was at $150 a barrel 1.25 sing = 1 Aussie dollar (jumping up and down but there about) now its sitting about .98 aussie to 1 sing dollar.

But as I understand all prices are traded in US dollars.

[SpoolMan]

Originally Posted by CSV_LS1

I feel so much better now that we are paying $1.28L :ticking:

That Alpha is looking good...

[BFZ Wagon]

Petrol price in Sth East QLD has gone up to $123.9 c/L. But don't get me started on LPG. It's REALLY starting to tick me off that LPG just keeps going up and up. It's a minimum of 55.9c/L on the Gold Coast and getting higher. (The average is 59.9+) I have to head north to the Bundaberg area this weekend and I'm not looking forward to it. Their prices are up near 78.9c/L for LPG. It should be illegal! :

I'm REALLY regretting buying an LPG only car now. We never got anywhere under 49.9c/L on the Gold Coast in recent months and haven't seen any better than that in a long time. I should have gone with my original plan and bought a diesel. At least I could have ran it on used chip oil.

Anyway, enough of my :

[Mr Hardware]

You obviously don't work in IT.

How is that so?
ps exchange sys admin here.

[SSbaby]

Originally Posted by Rodp

You obviously don't work in IT.

The disparity between the price of oil per barrel and the exchange rate between then and now doesn't account for the difference in what they're charging at the pump.

Someone does have their sticky fingers in the pie.

Absolutely!!!

The exchange theory is unproven cod's wallop! I dare that person to extrapolate over time instead of using one instance to support his theory.

[BLUEYBA]

all i know is just before xmas we had prices at around 90c for normal fuel. The price of the dollar and oil are very similar if not the same and we are paying alot more now

[TS50]

We can all use facts and figures to substansiate our own thoughts
And others will dispute them, Whatever facts and figures say, I have no doubts the Oil companies (not the servo operators) are profiteering from us
As I said earlier, their end of financial year profits will end up showing us if i am right or wrong

[Mr Hardware]

Wait on TS50, i didn't think selling fuel was a public service. I thought it was a privately owned enterpise designed to make money.
When Ford makes a profit do you get angry with them too?

[ea90gl]

Originally Posted by Mr Hardware

Wait on TS50, i didn't think selling fuel was a public service. I thought it was a privately owned enterpise designed to make money.
When Ford makes a profit do you get angry with them too?

Im sure if they were trying to flog of standard XT's for 50 grand there would be some up roar

[SSbaby]

Originally Posted by TS50

We can all use facts and figures to substansiate our own thoughts
And others will dispute them, Whatever facts and figures say, I have no doubts the Oil companies (not the servo operators) are profiteering from us
As I said earlier, their end of financial year profits will end up showing us if i am right or wrong

Let's use Exxon Mobil as an example of the profit case it is and let's use the crude oil prices as a guide only...

The key figures are for the last quarter (Oct - Dec) of last year for Exxon Mobil where the price of oil was largely below $40/bbl. Exxon Mobil made $7B profit for the quarter.

When oil was up around $150/bbl, Exxon Mobil made $11B profit for that quarter. It seems to me that it's not only the oil companies that have their finger on the pie but also the banks which buy up big on oil commodities and inflate prices.

[burnz]

Originally Posted by Mr Hardware

Wait on TS50, i didn't think selling fuel was a public service. I thought it was a privately owned enterpise designed to make money.
When Ford makes a profit do you get angry with them too?

but it's hardly free market, price fixing/colluding is the norm.

[XWGT]

Save yourself the brain strain of calculatig the exchange rate , $US barrel rate and the MOPS95 price (which is all that matters)

http://www.aip.com.au/

All you need to know on a daily basis about fuel prices. Check all the graphs including terminal gate price and retail

Until the pricing guidlelines are changed you just have to forget the $US cost per barrell and the AUD rate as they simply are not used to price fuel in Australia. ITs MOPS95 and MOPS95 only people and Asia is not slowing down by the looks of it

[TS50]

Originally Posted by Mr Hardware

Wait on TS50, i didn't think selling fuel was a public service. I thought it was a privately owned enterpise designed to make money.
When Ford makes a profit do you get angry with them too?

Thats a crap comment
I dont mind anyone making a fair dollar
I have my own business, I want to make money, but these companies want to bleed us dry, exploit every cent they can, there is a difference between making a good and reasonable return on investment to what they do
And i agree, the whole economy is this way these days, its all about stock price, and what shareholders get
no doubt part of the market collapse happening now, because the returns they have been getting is not substainable
and who gets hurt, the mums and dad investors, not the big boys

[BAxtER]

Originally Posted by TS50

Thats a crap comment
I dont mind anyone making a fair dollar
I have my own business, I want to make money, but these companies want to bleed us dry, exploit every cent they can, there is a difference between making a good and reasonable return on investment to what they do
And i agree, the whole economy is this way these days, its all about stock price, and what shareholders get
no doubt part of the market collapse happening now, because the returns they have been getting is not substainable
and who gets hurt, the mums and dad investors, not the big boys

agreed!

Sometimes something called civil disobedience will get the message across.... : ...

[gozza]

$1.37 for Ultimate today - 2 months ago i was paying $1.10 and was loving it

[red_hotxr6]

Not only was the price of oil around the $35-40 mark in december where we were paying about 93-99 cents a litre, now its about a $1.20-$1.25 here in brisbane, but have you noticed that first Caltex had a problem in there refinery and now mobil are having one, who is next when they get back on line....Shell????

[nugget378]

I saw premium at 141.9 today,

Our oil/petrol industry should be nationalised, how is it that private companies are allowed to make billions out of resources WE all own, heck Im not allowed to make money from the resources on my own bloody property..

[mrbaxr6t]

what gets me is I can't even get bp ult here its "on allocation" and my servo don't get "allocated" any. so I started using 95 and saving some dollars now 95 is "on allocation" and I have to pay thru the teeth for 98. This gets to me I can't have the fuel I want, and am railroaded into what they "want me to buy".

[Rodp]

Originally Posted by Mr Hardware

How is that so?
ps exchange sys admin here.

So you were the one that got a payrise in 7 years, congratulations!

[Rodp]

Originally Posted by Mr Hardware

Wait on TS50, i didn't think selling fuel was a public service. I thought it was a privately owned enterpise designed to make money.
When Ford makes a profit do you get angry with them too?

If I was required to purchase a vehicle from them and they decided to raise their prices significantly without any obvious justification then I would be ropable with them.

[Mr Hardware]

The key figures are for the last quarter (Oct - Dec) of last year for Exxon Mobil where the price of oil was largely below $40/bbl. Exxon Mobil made $7B profit for the quarter.

When oil was up around $150/bbl, Exxon Mobil made $11B profit for that quarter. It seems to me that it's not only the oil companies that have their finger on the pie but also the banks which buy up big on oil commodities and inflate prices.

Most retail stores will have a standard multiplier for their profit margin on wholesale stock. Simply sounds like Exxon Mobil does too.

but have you noticed that first Caltex had a problem in there refinery and now mobil are having one, who is next when they get back on line....Shell????

Brisbane only has two refineries, Caltex at Lytton and BP at Bulwer Island.

Sometimes something called civil disobedience will get the message across....

Annoying the BP attendant ain't gonna change the price of oil per barrel.

If I was required to purchase a vehicle from them and they decided to raise their prices significantly without any obvious justification

And that's the clincher. Without any obvious justification. THERE IS obvious justification. The New York Mercantile Exchange, among others, trade Oil Futures as a stock, if you will. Whilst oil futures are a traded commodity we the people are left susceptible to any and every fluctuation in price. By choosing to drive a car that uses an oil based fuel, you will be stung.

So you were the one that got a payrise in 7 years, congratulations!

.... If i wasn't getting pay rises at least along the lines of CPI let alone my increased skill level in my line of work i'd be leaving my job quick smart.

[SSbaby]

Originally Posted by Mr Hardware

Most retail stores will have a standard multiplier for their profit margin on wholesale stock. Simply sounds like Exxon Mobil does too.

So that means we've bottomed out as far as fuel prices are concerned, right?

But that doesn't explain why fuel prices were under a $1/L before the new year, even at the same wholesale figures.

There's something skewed in your reasoning, methinks.

[Mr Hardware]

But that doesn't explain why fuel prices were under a $1/L before the new year, even at the same wholesale figures.

There's something skewed in your reasoning, methinks.

Nope. Just remember they are called Oil Price FUTURES for a reason. "Crude Oil for March delivery closed down $1.96 at $33.98 per barrel." http://www.wtrg.com/daily/crudeoilprice.html

What the oil price per barrel changes to doesn't filter through to the pump for about 3 weeks or so. So you can't compare todays figures with todays petrol prices, you can only compare 3 week old figures (ie $46/barrel) with todays prices.

[SpoolMan]

Originally Posted by mrbaxr6t

what gets me is I can't even get bp ult here its "on allocation" and my servo don't get "allocated" any. so I started using 95 and saving some dollars now 95 is "on allocation" and I have to pay thru the teeth for 98. This gets to me I can't have the fuel I want, and am railroaded into what they "want me to buy".

Last 2 weeks there has been a shortage of Mobil synergy 8000 and BP Ultimate they both are made at the same refinery in Melbourne, and there are supply issues their only allocating a certain amount of litres to each servo and the drop is so small its sold out in a day...
Mobil Broadmeadows, BP Cooper st both been out for a week, BP Somerton I went there today and the fuel was coming so slow the attendant said there almost out and doesn't know when there getting more..

[GT0132]

BP Ultimate is what I tend to use only because when I generally need to do the once every 3 week fill up it's usually when I pull out of my drive and the local BP is the closest servo to my place.....If I need juice any other time for the GT I'll just pull into the nearest servo at the time,whether it's BP, Shell, Mobil or Caltex.....If 98 is out of supply I'll use 95........Now I know FPV recommend BP Ultimate , but honestly it all comes out of the same place and I notice no difference , nor do I notice any difference between 98 and 95. When there's no 98 or 95 then we have a problem Houston...That in fact happened once last year around July and couldn't use the car that weekend

[SSbaby]

Originally Posted by Mr Hardware

Nope. Just remember they are called Oil Price FUTURES for a reason. "Crude Oil for March delivery closed down $1.96 at $33.98 per barrel." http://www.wtrg.com/daily/crudeoilprice.html

What the oil price per barrel changes to doesn't filter through to the pump for about 3 weeks or so. So you can't compare todays figures with todays petrol prices, you can only compare 3 week old figures (ie $46/barrel) with todays prices.

That's my point, the Oil price FUTURES was under $40/bbl late last year, yet the pump price was under $1/L.

Second point, the price at the pump rises instantaneously as the oil prices increase, yet the exact opposite occurs when oil prices drop, so that would skew the FUTURES figures somewhat.

I know there's no direct correlation between oil prices and pump prices (one can only assume)... but don't you at least agree that pure mathematics alone doesn't explain the prices we are asked to pay at the pumps?

[Bill M]

There was a recording of a conversation between 2 executives of a US natural gas? company that was used in a congressional hearing about price fixing and or collusion, unbelievable! These people don't give a rats about anything other that HUGE OBSCENE profits just like some of the US banking hierarchy. And before some idiot jumps in with commie or socialist labels yes a good strong profit is healthy, its just the obscene gouging that distorts the economy and balance that peeves me off. Its not just filling your T series, XR8, XR6T with premium that hurts, its groceries, bog paper, the staple essentials that go up as well. So if you want to defend these guys I have to question what your motives are.
Bill.