Petrol Price crisis......

[mondeomatureguy]

Hi Guys
well E10 is 2.07 a litre here at home.
This i really a long shot and i dont think it would happen because the Goverment is making too much money out of fuel.

What are the chances of the Goverment removing some of the excise on fuel?

[T3rminator]

Originally Posted by mondeomatureguy

What are the chances of the Goverment removing some of the excise on fuel?

Feds behind on polls, sentiments shifting, Josh in trouble at Kooyong, so I'd say almost a certainty for some relief in taxes, whether its fuel excise or something else, its all the same. Fuel excise to go from 44.2c to 40c is my call

The best thing gov can do is run a genuine inquiry into fuel prices IMHO. There is no correlation between prices per barrel and what we pay at the pump. Slomo was supposed to have done an inquiry when he was treasurer, it was a promise he made some elections ago. Setting a good policy will have long term benefits. Excise cut is just short term, funding for road infrastructure will suffer in the mean time.

[CyberWasp]

If they remove some of the excise the fuel companies will jack up the price by what it comes down.

[Adamz Ghia]

The cost of fuel has been jumping every time the oil price did, the supposed 6 week lag Craig James always bangs on about turned into 6 hours.

I noticed when oil prices dropped $20 a barrel the other day the prices didn’t follow. Every dollar is 1 cent apparently, we should be paying $1.79 here in Geelong.

Funny that.

[Adamz Ghia]

Regarding cutting the excise, that’s a useless move as the fuel companies will just pocket the difference.

At least pause indexation and freeze it at its current rate

[GASWAGON]

Online news is saying Moscow and Ukraine talks coming this week is causing 'some' barrel price reductions and hopefully even more in the near future.

Thank god!

[mad2]

Originally Posted by GASWAGON

Online news is saying Moscow and Ukraine talks coming this week is causing 'some' barrel price reductions and hopefully even more in the near future.

Thank god!

those 'talks' are just bulllshiit coz putin wants his way ....... like everywhere russia has fought such as Syria, Chechen .

[Franco Cozzo]

Originally Posted by GASWAGON

Online news is saying Moscow and Ukraine talks coming this week is causing 'some' barrel price reductions and hopefully even more in the near future.

Thank god!

Well, the sanctions against an oil producer who produces 10%+ of the worlds oil probably aren't helping

What a curious situation, do you sanction then shoot yourself in the foot with cost of living increases or do you sit on the sidelines?

Maybe we can buy oil from Iran?..... Oh wait they've been sanctioned too.

What about Venezuela? Oh thats a crap shoot too

[roKWiz]

Originally Posted by Franco Cozzo

Well, the sanctions against an oil producer who produces 10%+ of the worlds oil probably aren't helping

What a curious situation, do you sanction then shoot yourself in the foot with cost of living increases or do you sit on the sidelines?

Maybe we can buy oil from Iran?..... Oh wait they've been sanctioned too.

What about Venezuela? Oh thats a crap shoot too

Things are serious, I had to source another chippie.

[T3rminator]

Originally Posted by Franco Cozzo

Well, the sanctions against an oil producer who produces 10%+ of the worlds oil probably aren't helping



What a curious situation, do you sanction then shoot yourself in the foot with cost of living increases or do you sit on the sidelines?



Maybe we can buy oil from Iran?..... Oh wait they've been sanctioned too.



What about Venezuela? Oh thats a crap shoot too

Funny isn't it, of those who made the decisions to apply the sanctions, how many of them do you reckon have to worry about cost of living?

[Whitey-AMG]

$2.37 for V power… lucky the angry little AMG can sip it at just 7L/100klm. If it was the BF GT it would be mothballed… no chance I’d be shelling out $155.00 a tank for 300klm…. $U$k that.

[Franco Cozzo]

Originally Posted by T3rminator

Funny isn't it, of those who made the decisions to apply the sanctions, how many of them do you reckon have to worry about cost of living?

None of them, but their constituents do and there's a federal election on the horizon

Also state election for us Mexicans!

[jpd80]

Originally Posted by Whitey-AMG

$2.37 for V power… lucky the angry little AMG can sip it at just 7L/100klm. If it was the BF GT it would be mothballed… no chance I’d be shelling out $155.00 a tank for 300klm…. $U$k that.

Just heard that 91 will probably hit $2.50 later this week and 98 whatever they damn well please

[Franco Cozzo]

Originally Posted by jpd80

Just heard that 91 will probably hit $2.50 later this week and 98 whatever they damn well please

All the auto tradies rubbing their hands together, forget the Pino lads, BP Ultimate is in season

Originally Posted by Warrenk

There is always someone worse off, even in the USA where the wages are a lot less. California are paying around A$2.07 ltr for unleaded and A$2.27 ltr for diesel.

No they aren't

[Adamz Ghia]

Originally Posted by TrVrPhiLpsiNdstrys

No they aren't

Yes they are, a quick google search and some conversions will tell you they are.

[Adamz Ghia]

Originally Posted by jpd80

Just heard that 91 will probably hit $2.50 later this week and 98 whatever they damn well please

I’m not sure that it will, the oil price has backed off a bit and the price of petrol here in Geelong has been pretty stable since around Friday. I can’t speak for them all but I’ve seen some servo’s go up to $2.20 or so a litre and by the end of the day they were back around the $2 mark.

[Gumboot]

I checked with a mate. it about $5.74 a gallon in Sacramento which is line ball with the average in California at the moment. With about 3.74 litre's per gallon , its about $1.53 per litre for 87 Unleaded there. So it is significantly cheaper than here.

But if your in middle America ie Dakota down to Texas its about $$3.90- $4.00 a gallon. So about $1.06 per litre.

[Adamz Ghia]

Originally Posted by Gumboot

I checked with a mate. it about $5.74 a gallon in Sacramento which is line ball with the average in California at the moment. With about 3.74 litre's per gallon , its about $1.53 per litre for 87 Unleaded there. So it is significantly cheaper than here.

But if your in middle America ie Dakota down to Texas its about $$3.90- $4.00 a gallon. So about $1.06 per litre.

Gotta convert it to Aussie dollars like Warrenk did.

[MrEL]

The fuel price rise and cost of living that will go through the roof will get the public on side to justify a full scale war.
The world's economy is screwed from covid.
Nothing rebuilds an economy like a big dust up.
They just want to get the war machine cranking.
I said this was coming 2 years ago.

[hayseed]

Originally Posted by jpd80

Just heard that 91 will probably hit $2.50 later this week and 98 whatever they damn well please

Considering we as a Country Import most of our Fuel, & only ever have 18-20 Days Fuel supply.. Don't be surprised if we Don't end up rationing Fuel. To avoid running out...

[GO FURTHER]

Let's face it, most people who rely on their car to get from A to B will still pay the price at the petrol pump no matter what it costs.

Sure, many will limit their trips, and some may opt to take public transport, walk or ride a bicycle instead.

When "essential" costs rise, it's the non-essential discretionary purchases and businesses supplying them that will suffer the most.

If you were paying $1.50 a litre and your 60 litre tank used to cost $90, but now at say $2.20 a litre and $132 a tank... People will look for other ways to save that extra $42 a fill.

That $5 a day cup of coffee, the extra beer at the pub, that weekly dinner out with the missus, that new pair of shoes, handbag or the new shiny iPhone will go, etc.

Not a good time for small business owners who have already been battered over the last 2 years with the pandemic.

All we need now is a rise in interest rates with the high inflation pressures, coupled with a lack in consumer confidence and you have the perfect storm for an economic downturn.

Thank you Mr Putin.

[Gumboot]

Originally Posted by Gumboot

I checked with a mate. it about $5.74 a gallon in Sacramento which is line ball with the average in California at the moment. With about 3.74 litre's per gallon , its about $1.53 per litre for 87 Unleaded there. So it is significantly cheaper than here.

But if your in middle America ie Dakota down to Texas its about $$3.90- $4.00 a gallon. So about $1.06 per litre.

Oops yes brain fade. Converting from USD to AUD at todays rate

Sacamento is $2.11 per litre AUD (one of the dearest in the US )

Texas is 1.46 per litre AUD ( one of the cheapest in the US )


So they still have it cheaper than us.

Originally Posted by Adamz Ghia

Gotta convert it to Aussie dollars like Warrenk did.

How does Americans buying American fuel at American dollars equate to Aussie dollars .. I'll wait.

[Adamz Ghia]

Originally Posted by TrVrPhiLpsiNdstrys

How does Americans buying American fuel at American dollars equate to Aussie dollars .. I'll wait.

You shall wait no more. Settle in, this might be a wild ride.

Warrenk said Californians are paying AUD $2.07 a litre for ‘gasoline’.

You said ‘no they’re not’.

I said ‘ Yes they are, a quick google search and some conversions will tell you they are.’

And you’ve come back and said the quote above.

Here’s where you got lost. The twist in the tale.

Gasoline is averaging US$5.744 a gallon.

US$5.744 is AUD$7.96 at the current exchange rate.

1 US gallon is 3.785 litres.

$7.96 (the Aussie dollar price per gallon) divided by 3.785 (the amount of litres in a US gallon) at the current exchange rate as I type this is AUD $2.10 Remember, Warrenk quoted his price in Aussie dollars, where as you’ve come along, skipped a step and told him he was wrong.

[Franco Cozzo]

Saudi Arabia won't increase oil production to reduce prices

https://www.wsj.com/articles/as-oil-...is-11645015415

[Franco Cozzo]

Saudi Arabia won't increase oil production to reduce prices

https://www.wsj.com/articles/as-oil-...is-11645015415

https://www.dw.com/en/could-saudi-ar...oil/a-61042100

They're sticking with the agreement they made with Russia, no surprises there.

[hackney]

Originally Posted by Franco Cozzo

Saudi Arabia won't increase oil production to reduce prices

https://www.wsj.com/articles/as-oil-...is-11645015415

OPEC & Iran have actually agreed to up production,this was reported last week.

[Franco Cozzo]

Originally Posted by hackney

OPEC & Iran have actually agreed to up production,this was reported last week.

I'm pretty sure we don't get oil from Iran and either do other countries aligned with the US due to sanctions and our 'understanding' with Saudi Arabia.

For those not aware Iran and Saudi Arabia both hate each other, both are the two oil rich Middle Eastern 'superpowers' and one is backed by the US and the West (who also buys our military equipment in huge numbers) and the other is backed by Russia, China and the others who hate us ideologically.

They were supposed to hold 'talks' in Iraq recently but one cancelled on the other and they both enjoy fighting each other in proxy wars across the Middle East, one executed one of the others clerics in recent past that caused a bit of drama

But that's good to hear OPEC has come around.

[Vesper Martini]

Originally Posted by Franco Cozzo

Well, the sanctions against an oil producer who produces 10%+ of the worlds oil probably aren't helping

What a curious situation, do you sanction then shoot yourself in the foot with cost of living increases or do you sit on the sidelines?

Maybe we can buy oil from Iran?..... Oh wait they've been sanctioned too.

What about Venezuela? Oh thats a crap shoot too

perhaps its time to lift the sanction on Venezuela.. nah they wont as they are making more than ever before. proof there is no shortages of supply