$1.19L Petrol with $42 barrel Oil

CSV_LS1 · 23-01-2009, 04:42 PM

What the hell is going on? Petrol went up to 1.19 at the beginning of this weeks cycle in Melbourne and oil is $42.81 atm. Did the government decide they need to make more money off the fuel and add another tax again?

Sorry if this is a repost, i couldn't find another thread.

DJL351 · 23-01-2009, 04:46 PM

Aust long weekend..... enough reason for them to screw us over. (so they think)

XBROO · 23-01-2009, 04:48 PM

Yeah it's gone up here as well and it's hard to find a fuel station that has premium unleaded, well thats in Ipswich anyway.

olfella · 23-01-2009, 04:48 PM

Must be our weak dollar??

hy_boi · 23-01-2009, 04:48 PM

yep. Yesterday here in nambour @ $.97.9 today as I look at the servo across the rd $1.08.9.

There should be no excuse.

XR8putts · 23-01-2009, 04:50 PM

Mate it's not just you guys, petrol prices have shot up in a massive way here in NZ over the last two weeks.

vztrt · 23-01-2009, 04:53 PM

Not saying profiteering is going on.

But if you followed the oil price and our dollar:

Recently oil was at $36-38 and the dollar was above US70c
Now oil is 40 odd dollars and our dollar is US64-65c.

**Sorted** · 23-01-2009, 04:56 PM

I am waiting for them to Bring out the Excuse it was because Pirates Held their boat for ransom and as they had to pay millions to have the boat released this has to be past on to the consumer :evil3:

JPFS1 · 23-01-2009, 05:07 PM

It's a lot more complicated than that.

Firstly, Australia is not linked to the WTI/Crude Oil market which our media continually rant on about.

We are linked directly to the TAPIS oil market (Singapore).

Then there is a myriad of other market factors that determine the price (not OIL companies as many think).

Check out www.aip.com.au if you want to know what contributes to it.

ross96mac · 23-01-2009, 05:15 PM

the price of a barrel of " Texas Tea " has come down from its high by 77%, our dollar against the " Yankee Dollar " has dropped 35%.... someone, somewhere is making a motza! remember tho that the Oz govt. takes about .38 cents excise plus .10 cents GST per litre at $1.10 retail... and they are fixed, excise does not drop just because the price of " Texas Tea" does.
so I suggest we all do a Jed Clampett.....
sorry, you young 'uns probably don't know about the Beverly Hillbillys!

JPFS1 · 23-01-2009, 05:17 PM

Further to that... TAPIS is the most expensive of the types of OILS - it's about $US5/bl more than WTI/Brent.

Iggypoppin' · 23-01-2009, 05:26 PM

fuel rose to 121.9 in adelaide after 102.9 on tuesday. go figure.

phillyc · 23-01-2009, 05:29 PM

Quote:

Originally Posted by JPFS1

It's a lot more complicated than that.

Firstly, Australia is not linked to the WTI/Crude Oil market which our media continually rant on about.

We are linked directly to the TAPIS oil market (Singapore).

Then there is a myriad of other market factors that determine the price (not OIL companies as many think).

Check out www.aip.com.au if you want to know what contributes to it.

Great link to that site. Much appreciated JPFS1

Interesting to note that while unleaded was 99cpl on Monday here in Newcastle, Diesel was 129cpl.

Look at that site and the terminal gate price difference is just 5cpl. So the retailers are therefore making 24cpl extra on diesel...

Also, the price of unleaded has gone from 99cpl to 119cpl today, when the gate price has increased by just 7cpl in that period. The retailers are therefore making an extra 12cpl profit.

NB I even saw diesel on Monday at Sandgate Caltex for 119cpl. Nth Lambton Caltex had it for 147cpl on the same day... Don't even buy diesel and i am peeved at this.

**redxm** · 23-01-2009, 06:50 PM

petrol stations are like brothels. Every time you visit one you are guaranteed to be f$$$ed

Cuey · 23-01-2009, 09:43 PM

There is a great story in wheels this much about how petrol prices are calculated, it reads something like this per litre

Shipping 12c
Unpacking 7c
Transport 10c
Aus Fuel Excise 38c
Servo Margin 7c
GST 8c
And there are a few other things that I can't remember

Wheels total was $1.10 per litre

It makes sense...

MITCHAY · 23-01-2009, 09:59 PM

Hehe for once the Australia Day weekend won't bone me over. I haven't filled my car up in nearly 4 weeks and still have half a tank

Redrum · 23-01-2009, 10:03 PM

Nothing more than profiteering and all major parties involved, from the oil companies to Chairman RUDD. They all are gaining extra income at our expense.

muppet · 23-01-2009, 10:35 PM

Ok how does this work then?
In the first gulf war oil was around $90 a barrel and the Australian dollar was 50 to 60 c US and petrol was 75 to 85c a L.
It,s just a strait up rip off and I really wish people would stop defending it as just the way it is. Petrol should be 80 to 90 c a L with the price of a barrel of oil(well really it should be cheaper like about 50c lol like that will happen).

whynot · 23-01-2009, 10:38 PM

No conspiracy theories required. There has been a major oil refinery failure (I think) in Singapore. Australian motor spirit prices closely follow the refinery gate prices in Singapore. The price should be back to normal in about a month’s time.

Notice how the price of diesel has fallen in the last few weeks? This is due to the economic slowdown, causing a reduction in electricity consumption, which flows onto a reduction of diesel fuel. Diesel is a main source of generator fuel in Asia.

I was reading somewhere that there has not been a new oil refinery built in Western countries for over thirty years. Two reasons; environmental protests and not enough profits in refinery.

MITCHAY · 23-01-2009, 10:38 PM

Reality is that oil companies can charge whatever they want, rip off or not as the world is very much dependent on it

:

schmidty · 23-01-2009, 10:53 PM

My local Shell has still been sitting on $1.01.9 The BP 200m down the road went up to $1.19.9 on monday. Still even in the last hour i've seen quite a lot of Perth servos below $1.02. If the price really has risen 18cpl how can half still be selling it for the low price 1 week on from when the prices started to rise? They're pretty high turn over service stations, definately not still on the same load of fuel from a week ago.

last fairlane · 24-01-2009, 12:08 AM

Hi Every one is blaming everyone else I can remember when doing my apprentiship in the sixties at an Amoco garage super was 40cents a gallon
diesel was 20 cents a gallon now divide that by 4 and a bit to get litres and wages were $40 a week so fuel is cheaper now
it would have been a lot cheaper if our PM Malcolm Fraser and his treasurer John Howard in 1979 hadnt gone with world parity which doubled the price over night from 13 cents a litre to 26 cents Thanks John

Bent8 · 24-01-2009, 12:45 AM

Quote:

Originally Posted by olfella

Must be our weak dollar??

Just tonight I drove up to my nearest BP and ULP was $1.19cpl

I drove to the next closest BP and it was $1.08cpl !!

I don't think our weak dollar has anything to do with it.

Nostalgia · 24-01-2009, 09:36 AM

Quote:

Originally Posted by redxm

petrol stations are like brothels. Every time you visit one you are guaranteed to be f$$$ed

At least the servo gives me a 4c discount !!!

Long weekend is the only reason for the price hike.

Once again the big guy screw's the consumer.

It's a absolute joke.

Adam.