Petrol Price crisis......

[T3rminator]

Yeh looks like you need to install a pc app to do the Android one too. Not really keen on thaylt, probably bloated with spyware. Tried one and there is a lot of dicking around.

[jpd80]

Just checked UK prices for petrol and diesel, converting over to roughly 80 cents per litre more than us

[T3rminator]

Originally Posted by jpd80

Just checked UK prices for petrol and diesel, converting over to roughly 80 cents per litre more than us

Mate there is telling me the media has gone bananas on cost of living. Its all they talk about 24/7. There are reports large households are now having to use residual heat from microwaves to heat their homes (its still relatively warm there). All overdone in his opinion. Media reporting food prices have doubled, yet food inflation is "only" 14%.

For general commuting, I see fuel cost as less of an issue for them there, as they can get from anywhere to anywhere with a bus and/or train in a reasonable amount of time.

[GASWAGON]

U.S crude prices still hanging around sub $90 p/b which is great.

91 at least is averaging $1.90 lately.

[T3rminator]

Originally Posted by GASWAGON

U.S crude prices still hanging around sub $90 p/b which is great.

91 at least is averaging $1.90 lately.

My area has come down to $1.7x for 91. Surprised. Thought we'd see a steady rise to $3 once the excise cuts had finished.

[John 13]

Originally Posted by GASWAGON

U.S crude prices still hanging around sub $90 p/b which is great.

91 at least is averaging $1.90 lately.

President Biden has suggested that OPEC (Saudi Arabia) should increase production with the onset of northern winter, which may just bring world fuel prices down ! Only a couple of months ago OPEC + met and agreed to reduce production in order to increase profits. (incidentally OPEC+ includes Russia). Saudi Aramco of course, now listed on the world stock exchange, operates the largest refinery in Texas. Why do we worry, it's all under control. What ever ? meanwhile massive oil reserves in some unfriendly countries (Iran, Venezuela, some African countries etc.) are accessed only under severe trade embargoes.

[Bossxr8]

Originally Posted by John 13

President Biden has suggested that OPEC (Saudi Arabia) should increase production with the onset of northern winter, which may just bring world fuel prices down ! Only a couple of months ago OPEC + met and agreed to reduce production in order to increase profits. (incidentally OPEC+ includes Russia). Saudi Aramco of course, now listed on the world stock exchange, operates the largest refinery in Texas. Why do we worry, it's all under control. What ever ? meanwhile massive oil reserves in some unfriendly countries (Iran, Venezuela, some African countries etc.) are accessed only under severe trade embargoes.

The Saudi's hate Biden cause he called Bin Salman a murderer for what happened to Koshoggi. They basically laughed him off when he asked them to increase production. He will get zero favors from them.

[kypez]

Originally Posted by T3rminator

My area has come down to $1.7x for 91. Surprised. Thought we'd see a steady rise to $3 once the excise cuts had finished.

$2.82 for diesel in a few places. Petrol seems to be a better place to be than diesel these days.

Sent from my Pixel 7 using Tapatalk

[jpd80]

Originally Posted by Bossxr8

The Saudi's hate Biden cause he called Bin Salman a murderer for what happened to Koshoggi. They basically laughed him off when he asked them to increase production. He will get zero favors from them.

And yet the price of US fuel has fallen something like 70c/gal since earlier this year,
maybe Joe said something in private that made them ease prices a touch….or maybe not.

[Bossxr8]

Originally Posted by jpd80

And yet the price of US fuel has fallen something like 70c/gal since earlier this year,
maybe Joe said something in private that made them ease prices a touch….or maybe not.

He asked to them to hold off on making an announcement about cutting production till after the midterms. They announced it pretty much a day or 2 after he asked them. That tells you all you need to know about what they think of President Potato.


DUBAI, United Arab Emirates — The Biden administration asked Saudi Arabia, the de-facto leader of oil producer group OPEC, to delay its decision on oil output by a month, the kingdom said in a statement.

The Saudis declined, and in early October OPEC+ — which includes non-OPEC oil exporters like Russia — announced its largest supply cut since 2020, to the tune of 2 million barrels per day starting from November.

[GASWAGON]

Protests and Covid zero lockdowns in China means less demand for U.S crude staying under $85 p/b for both.

Hopefully stays that way for Xmas and holidays.

[Sprintey]

Saw gas at 86.7 in Gtown today, is that good?

[EBSXR6]

Originally Posted by Sprintey

Saw gas at 86.7 in Gtown today, is that good?

There is a few Servos listed at 79.9 in Melbourne's outer Eastern Suburbs two in the South Eastern Suburbs.

[GASWAGON]

Latest news on U.S.....Pump prices for 'regular' Gasoline are back down to where they were just before the war started Feb 24th.

Diesel not so good but its still great news!

[jpd80]

Originally Posted by GASWAGON

Latest news on U.S.....Pump prices for 'regular' Gasoline are back down to where they were just before the war started Feb 24th.

Diesel not so good but its still great news!

Encouraging signs for our prices but the disparity between ULP and Diesel prices is just criminal

[T3rminator]

Originally Posted by GASWAGON

Latest news on U.S.....Pump prices for 'regular' Gasoline are back down to where they were just before the war started Feb 24th.

Diesel not so good but its still great news!

Any reasons given on the drop? Filled up Mobil 98 this morning on $1.88

[blueoval]

Originally Posted by T3rminator

Any reasons given on the drop? Filled up Mobil 98 this morning on $1.88

i paid $1.81 for 95ron yesterday

[jpd80]

Paid $1.66 for 91 ULP in western brizzy this morning, glad I don’t own a diesel 50% dearer fuel

[GASWAGON]

Originally Posted by T3rminator

Any reasons given on the drop? Filled up Mobil 98 this morning on $1.88

New EU/U.S sanctions on Putin.

Crude barrel prices capped @$60 p/b....Woohoo.

[hackney]

Originally Posted by T3rminator

Any reasons given on the drop? Filled up Mobil 98 this morning on $1.88

That’s a reasonable price for 98.My local Mobil has been sitting @ $2.04 for ages.

[T3rminator]

Originally Posted by hackney

That’s a reasonable price for 98.My local Mobil has been sitting @ $2.04 for ages.

Some are down to 1.84 now.

[blueoval]

Whats the bet the savings do not get passed down though

[T3rminator]

Originally Posted by GASWAGON

New EU/U.S sanctions on Putin.

Crude barrel prices capped @$60 p/b....Woohoo.

Just read the download. G7 + EU + ourselves already have sanctions on Russian oil, not that we got our oil from them anyway, but it reads like that they are now allowing non G7 + EU nations to import Russian oil as long as its under $60 p/b?

They are also now allowing companies to ship, insure and handle seaborne Russian oil, as long as it is under $60 p/b.

Assuming the Russians agree, which they have said they won't, how does that drive down the price of oil for us?

And if the Russians refuse to take that price, and keep selling it at a price that is still a discount to other oil sources, how is that going to keep our oil prices down?

[GASWAGON]

WTI & Brent both back to sub $80 p/b like they were Dec last year.

From memory that means 91 should be around $1.50-60 p/l.

[jpd80]

Originally Posted by GASWAGON

WTI & Brent both back to sub $80 p/b like they were Dec last year.

From memory that means 91 should be around $1.50-60 p/l.

Heard a rumour that USA and Europe have an agreement for $60/ barrel, Russia can sell oil at that limit apparently…….good news if true.

I m sure that some will implode over the market not collapsing like they’re praying for

[blueoval]

funny how when there is an increase in barrel price, the fuel prices go up immediately. Any time there is a saving it takes weeks for any thing to be passed down and even then, its not the full saving either.

[Franco Cozzo]

Originally Posted by blueoval

funny how when there is an increase in barrel price, the fuel prices go up immediately. Any time there is a saving it takes weeks for any thing to be passed down and even then, its not the full saving either.

Oh yes but there's no collusion at all in the market, none so ever.

Meanwhile at the ACCC investigation office:

[T3rminator]

If just saying you wish to cap Russian oil at $60 can bring Brent and WTI to sub $80.....just imagine what wishing capping Russian oil to $20 can do

[jpd80]

Originally Posted by T3rminator

If just saying you wish to cap Russian oil at $60 can bring Brent and WTI to sub $80.....just imagine what wishing capping Russian oil to $20 can do

Maybe US and Europe looking to de escalate tensions by allowing some income for Russia
in return for positive actions, an off ramp for Russia now that Nordstream gas ploy failed?

[T3rminator]

Great....just when we start to see oil prices dropping, China decides to start rolling back covid restrictions. Back over $100?