The rising price (and associated costs) of Oil / Petrol Discussion Thread.

[Tobey]

They were going on this morning about petrol reaching $8 per litre in the next few years... I think the media is going a little far :Weirdo:

[kempster1]

http://www.abc.net.au/news/stories/2...11/2300646.htm

[Tobey]

Originally Posted by Tobey

They were going on this morning about petrol reaching $8 per litre in the next few years... I think the media is going a little far :Weirdo:

By a few years, i mean 10...:togo:

[mrxy8]

What a crock of S%^t that $8 per litre thing is.
That would mean it would cost me approx $520 to fill the territory up.
Now who the eff is going to stand for that, imagine what it would do to the economy?
I am so sick of all the media comes up with, is it any wonder that speculation "drives" up the price.
That whole concept is just ridiculous, so why even publish crap like that.
That really grinds my gears.
As if, 1) the government would allow the economy to fall that far into disarray.
and 2) The public would sit back and allow the government to commit such atrocities.

I can't quite work out the point of that announcement, unless of course the CSIRO comes out next week and announces that they have developed an alternative to petrol that will only cost 7.50 a litre in 10 years, therefore saving us heaps.

I apologise for my rant and will get down of my soap box now.

[ieatsports_cars]

Originally Posted by mrxy8

What a crock of S%^t that $8 per litre thing is.
That would mean it would cost me approx $520 to fill the territory up.
Now who the eff is going to stand for that, imagine what it would do to the economy?
I am so sick of all the media comes up with, is it any wonder that speculation "drives" up the price.
That whole concept is just ridiculous, so why even publish crap like that.
That really grinds my gears.
As if, 1) the government would allow the economy to fall that far into disarray.
and 2) The public would sit back and allow the government to commit such atrocities.

I can't quite work out the point of that announcement, unless of course the CSIRO comes out next week and announces that they have developed an alternative to petrol that will only cost 7.50 a litre in 10 years, therefore saving us heaps.

I apologise for my rant and will get down of my soap box now.

you have every right i rant, and i agree who even predicts this rubbish ! i can see petrol about 4 - 5 dollars a litre but not 8 dollars ! Time to get the g word intalled before they rise that even further !

[Ralliart]

**** media what do they think we are stupid, stop giving us worse news, its bad enough we have to cope with $2/l let alone $8.

[Bossxr8]

Originally Posted by Tobey

They were going on this morning about petrol reaching $8 per litre in the next few years... I think the media is going a little far :Weirdo:

Demand would be halved if it cost that much, and the law of supply and demand would drop the price back down to where it is now, plus everyone would move onto electric cars which would be in production by then. For that very reason $8 a litre is just a stupid thing to say.

Do they just pluck these numbers out of thin air. In that case I reckon petrol will be 20 c a litre in 10 years time :

[SSbaby]

The $8/L figure is just CSIRO wasting tax payer's money by extrapolating baseless information from the current trend. Nothing too scientific there.

<Next!>

[GTPete]

Originally Posted by exrtnz

I worked out in the middle east for 18 months, lately and there prices have never moved at all, 20c US a litre in Kuwait and around 10c a litre in Dubai dunno about Saudi. But also the saudi,s are onto there last massive oilfield after thats gone dry they still have some smaller ones but not a hellova lot.
But Iraq on the other hand has approximately 90-110yrs of oil supply if pumped out at the current rate but all the major oil companies are looking at moving in and setting up there in the next 18months.

There were some major issues with Russia and France around who would be in control of Iraq and its oil reserves post invasion. Theres a very good reason why the US and not the UN are in control of Iraq.

[mik]

on the news tonight they were talking about Georgia and Russia (the plot thickens), apparently there is an oil pipeline on the Georgia side of the border that makes Georgia some good dollars selling to europe, if Russia absorbs Georgia and claims the oil they will have a nice little nest egg, i don`t know who REALLY instigated hostile actions but i reckon the oil is a big part of this. don`t know how this will affect prices of juice if the ruskys get hold of it.

[SSbaby]

Originally Posted by mik

on the news tonight they were talking about Georgia and Russia (the plot thickens), apparently there is an oil pipeline on the Georgia side of the border that makes Georgia some good dollars selling to europe, if Russia absorbs Georgia and claims the oil they will have a nice little nest egg, i don`t know who REALLY instigated hostile actions but i reckon the oil is a big part of this. don`t know how this will affect prices of juice if the ruskys get hold of it.

Interesting mik.

It doesn't surprise me and given recent history it wouldn't surprise me if the US were the cause of the war b/w Russia and Georgia... by negotiating a secret deal with the US-friendly Georgian powerbrokers. It could be the reason why the Russian president stated that the Georgian leader [quote] "must go!".

And why are the US so interested in what happens in Georgia and not Zimbabwe, I wonder?

Yes, the plot thickens, alright!

[SSbaby]

Georgia has joined the Baku-Tbilisi-Ceyhan oil pipeline that skirts Russia and ends its monopoly on transporting Caspian Sea oil to world markets; it has defied Moscow on a range of regional issues; and it is attempting to join NATO, presenting the Russian military brass with the prospect of a strategic rival strengthening its position along Russia's southern underbelly.

http://www.time.com/time/world/artic...542107,00.html

If you notice, that article was dated, Tuesday, Oct. 03, 2006... so it's been brewing.

And another recent article...

[King Nothing]

What a load of crap. Oil is now under $100/barrel. It's dropped over $40 (almost a third!!), yet we still have not seen significant discounts. You cannot tell me that even with the dollar falling, that we should only see a 10-15c/L drop, when it rose almost 40c. Thank God I'm on LPG, but even that is starting to creep toward 70c again.

[YOOT]

Originally Posted by King Nothing

What a load of crap. Oil is now under $100/barrel. It's dropped over $40 (almost a third!!), yet we still have not seen significant discounts. You cannot tell me that even with the dollar falling, that we should only see a 10-15c/L drop, when it rose almost 40c. Thank God I'm on LPG, but even that is starting to creep toward 70c again.

Just wait till they start taxing LPG in a couple of years. You'll be paying the same for it as for petrol, only you'll use 50% more per 100km than petrol.

High prices are mainly due to the uncertainty of the Hurricanes in the US. But I agree, prices have crashed but not at the bowser.

[sgt_doofey]

Originally Posted by King Nothing

Thank God I'm on LPG, but even that is starting to creep toward 70c again.

Be thankful that you're not in SA where we haven't had LPG for about a week or so due to contamination. I've just seen a few petrol stations starting to get LPG back again now. Didn't help me on Friday when I had to fill up with petrol as I couldn't find any LPG.

Originally Posted by YOOT

Just wait till they start taxing LPG in a couple of years. You'll be paying the same for it as for petrol, only you'll use 50% more per 100km than petrol.

We'll be paying an extra 2.5c/L to begin with. Not quite on par with the excise on petrol there. At most when the full excise is on LPG, it will only be 12.5c/L. We'll still be well under petrol.
As for the 50% more claim, that's a load of bollocks. It's more like 20-30%.

[YOOT]

Originally Posted by sgt_doofey

Be thankful that you're not in SA where we haven't had LPG for about a week or so due to contamination. I've just seen a few petrol stations starting to get LPG back again now. Didn't help me on Friday when I had to fill up with petrol as I couldn't find any LPG.


We'll be paying an extra 2.5c/L to begin with. Not quite on par with the excise on petrol there. At most when the full excise is on LPG, it will only be 12.5c/L. We'll still be well under petrol.
As for the 50% more claim, that's a load of bollocks. It's more like 20-30%.

My appologies, but 30% is still heaps!!

[snappy]

Originally Posted by YOOT

My appologies, but 30% is still heaps!!

New liquid injection system about 10% and and a increase in power

[sgt_doofey]

Originally Posted by YOOT

My appologies, but 30% is still heaps!!

Meh. I get 500kms out of $40. Cheap enough for me :
I guess if I was on petrol, I'd get roughly 550 - 600kms for about $80.

[Need_a_V8]

Originally Posted by King Nothing

What a load of crap. Oil is now under $100/barrel. It's dropped over $40 (almost a third!!), yet we still have not seen significant discounts. You cannot tell me that even with the dollar falling, that we should only see a 10-15c/L drop, when it rose almost 40c. Thank God I'm on LPG, but even that is starting to creep toward 70c again.

Whilst oil has dropped, so has the aussie dollar. From 98.49US cents down to a low of 79c to the US dollar the other day. Thas why fuel has only dropped about 14cpl from when it was in the $140 range. But it will drop further next week. If the aussie dollar stays where it is and oil does also, it should drop to around $1.35 in 2 weeks on the cheap day of the price cycle.

[JPFS1]

Originally Posted by Need_a_V8

Whilst oil has dropped, so has the aussie dollar. From 98.49US cents down to a low of 79c to the US dollar the other day. Thas why fuel has only dropped about 14cpl from when it was in the $140 range. But it will drop further next week. If the aussie dollar stays where it is and oil does also, it should drop to around $1.35 in 2 weeks on the cheap day of the price cycle.

That's right. It's the unexplained US dollar strength that has caused a turnaround in all US$ denominated commodities. I'd love to see anybody explain how and why the US$ can suddenly strengthen to such degree amid meltdown of US Banks, the US economy etc etc... I have my opinion on that.

Here's a chart of the US$ turnaround against the AUS$.

[Fev]

i picked up fuel from caltex at turramurra(north of sydney) for $1.37 with a docket last tuesday.. im hoping it gets down to 1.20 a lt, and hopefully before i drive 600kms this weekend lol

[FPV+fteT3]

When oil was at $200+ per barrell I was paying on average about 1.70/L for pulp for the fpv. can anyone tell me why now oil is at $99.00/barrell I am still paying $1.60/l for pulp? If you can buy the raw product for half price how come the sale price has only fallen by about 10%? Does any one else feel ripped off.

[snappy]

Originally Posted by fpv84d

When oil was at $200+ per barrell I was paying on average about 1.70/L for pulp for the fpv. can anyone tell me why now oil is at $99.00/barrell I am still paying $1.60/l for pulp? If you can buy the raw product for half price how come the sale price has only fallen by about 10%? Does any one else feel ripped off.

Never got near $200 a barrel $140 is more accurate the say it the aussie dollar

[Fev]

Everyone in the whole world i'd imagine..
March on parliament i say! Someone said that because the aussie dollar has fallen around 15c(its now at $1US=AU82c) that this effects the price.. but.. that makes even less sense..

When our dollar was AU50c~ for US$1 the price of oil was around the same but we were only paying like what.. $1.18/lt?? seriously heads need to be rolled on this one.. wheres someone who can explain this in lamens lol

[JPFS1]

i'll break it down...

Crude oil ~= US$ $91 per barrel. Divide by 159 (Lts per barrel) => 0.57 US dollars per litre.

Exchange rate = $0.7899 US cents for 1 AU dollar => 0.7245 AU dollars per litre.

We know the Breakdown of 1 litre of petrol consists of the following major components at todays prices:

~11 cents GST
38.143 cents in excise
1.2 cents for the service station (Note: The credit card companies get more)
72.45 cents Crude oil (based on today's price and today's exchange rate)

Total of ~49.143 cents direct tax + 73.65 cent in raw product and service station margin, making a total of ~122.8 cents!

Where's the rest?

Well there's further hidden taxes in the form of royalties to government, exploration and production taxes paid to government from oil companies (which they pass onto consumer), transport and refining costs, wharf costs etc. That would cover most.

So i think, it's not that far above where it should be based on the cost attribution.

[JPFS1]

actually, WTI is ~95/bbl. So substitute my previous figures for a more accurate set of numbers.

[Need_a_V8]

Originally Posted by Fev

Everyone in the whole world i'd imagine..
March on parliament i say! Someone said that because the aussie dollar has fallen around 15c(its now at $1US=AU82c) that this effects the price.. but.. that makes even less sense..

When our dollar was AU50c~ for US$1 the price of oil was around the same but we were only paying like what.. $1.18/lt?? seriously heads need to be rolled on this one.. wheres someone who can explain this in lamens lol

Oil was like $30US a barrel or $40 max back when the aussie dollar was only 50c to the US dollar.

[Bent8]

Originally Posted by JPFS1

That's right. It's the unexplained US dollar strength that has caused a turnaround in all US$ denominated commodities. I'd love to see anybody explain how and why the US$ can suddenly strengthen to such degree amid meltdown of US Banks, the US economy etc etc... I have my opinion on that.

Here's a chart of the US$ turnaround against the AUS$.

The US dollar hasn't gained any strength at all...did you know that the Taj Mahal no longer accepts US currency?...yup, it's that bad!

What's happening is the US Federal Reserve is bailing out the banks and guess who's paying for it?....the US taxpayer!

The whole system is currently imploding (the Banksters have gone too far) but like watching a giant iceberg collapse into the ocean, it's all happening in slow-motion.

The US dollar will soon be worthless (by design of course) to be replaced by another currency, either the Euro or the proposed Amero. Oil prices are fixed daily by the pr*cks at Wall Street and the 2 main factors that affect the current fuel prices are the rate of the USD devaluation and daily OPEC output.

Here's another fact, that one US dollar you had in 2001 is now worth a measly 50 cents!...Thanks go to the greedy bankers printing money whenever they feel like it to prop up the markets and fund their highly profitable wars for global domination.

[Buddy 1]

Originally Posted by Fev

Everyone in the whole world i'd imagine..
March on parliament i say! Someone said that because the aussie dollar has fallen around 15c(its now at $1US=AU82c) that this effects the price.. but.. that makes even less sense..

When our dollar was AU50c~ for US$1 the price of oil was around the same but we were only paying like what.. $1.18/lt?? seriously heads need to be rolled on this one.. wheres someone who can explain this in lamens lol

I so Agree with you as if we Look back to when the Crude Oil Price was at the same levels as it is now the Bowser Price was approx 40 cents per litre cheaper than it is now.

So WTF is going on?

Yes is the Lower Dollar Value however that was also about the same back when crude was less than $100.00 a Barrel.

Taking everything into account it should be approx $1.10 a litre for 91 Octane atm.

So again WTF

When the Barrel price was on its steep rising cycle we saw this reflected in the bowser price which was fair enough in a way Coz that was out of peoples control however once the barrel price started to fall we should have also seen the Pump price fall constantly as the barrel price fell just as it rose with the barrel price constantly.

Someone is making Huge Profits atm.

By the way we get most of our Domestic crude from Bass Straight anyway so why do we set our price on the Middle east prices etc...

Yeah a world Economy, it sure is working well NOT

We were better off when we ran our own Economy lol STUFF the WORLD.

[JPFS1]

Originally Posted by Bent8

The US dollar hasn't gained any strength at all...did you know that the Taj Mahal no longer accepts US currency?...yup, it's that bad!

What's happening is the US Federal Reserve is bailing out the banks and guess who's paying for it?....the US taxpayer!

The whole system is currently imploding (the Banksters have gone too far) but like watching a giant iceberg collapse into the ocean, it's all happening in slow-motion.

The US dollar will soon be worthless (by design of course) to be replaced by another currency, either the Euro or the proposed Amero. Oil prices are fixed daily by the pr*cks at Wall Street and the 2 main factors that affect the current fuel prices are the rate of the USD devaluation and daily OPEC output.

Here's another fact, that one US dollar you had in 2001 is now worth a measly 50 cents!...Thanks go to the greedy bankers printing money whenever they feel like it to prop up the markets and fund their highly profitable wars for global domination.

Bent8

I'm not arguing with you on the fact that the $US dollar should be worthless... how can it not be when the US is in a financial meltdown.. their currency is not backed by anything tangible, so they just print more as you say. Good to see that they didn't raise rates over there last night as a knee jerk reaction.

By my point which i raised which you quoted, was the unexplained turnaround in the US$. My charts aren't lying... the US$ has completely turned around against the AUD the EUR the GBP and CHF since around July this year, when the world markets started to tank! These are the most common traded currency pairs on the Forex.

There is something very sinister going on here, it just makes no sense!

USD/AUD

USD/EUR

USD/GBP

USD/CHF