Petrol Prices over the weekend (SEQ and North NSW) - Page 2

geckoGT · 01-03-2011, 10:02 PM

What I can not for the life of me work out is why when I was in Kyogle NSW yesterday fuel was $1.34L for ULP, Brisbane was $1.40, today I was in Toowoomba and it was $1.34L and brisbane is $1.41L. 7c/L more in the capital city and the refinery is just up the road, that is disgusting if you ask me.

There used to be a time that regional areas were more expensive, the excuse was increased transport costs. So why it now the capital cities that are more expensive, could that be profiteering?

Coyote mk3 · 01-03-2011, 10:20 PM

Quote:

Originally Posted by geckoGT

What I can not for the life of me work out is why when I was in Kyogle NSW yesterday fuel was $1.34L for ULP, Brisbane was $1.40, today I was in Toowoomba and it was $1.34L and brisbane is $1.41L. 7c/L more in the capital city and the refinery is just up the road, that is disgusting if you ask me.

There used to be a time that regional areas were more expensive, the excuse was increased transport costs. So why it now the capital cities that are more expensive, could that be profiteering?

How could you possibly suggest such a thing?

7cp/l higher then remote(er) areas is pretty bad. I was always of the opinion these places were more expensive because of transport costs too.
I am sure once our prices come down, and/or the others go up transport costs will be the excuse again.

HEMI POWER · 01-03-2011, 10:29 PM

Quote:

Originally Posted by DJM83

Im glad i havnt got a V8 anymore.....

Regardless what you drive it's going to hurt the hip pocket HARD. (unless your on LPG

)

**SSD-85** · 01-03-2011, 10:30 PM

Quote:

Originally Posted by geckoGT

What I can not for the life of me work out is why when I was in Kyogle NSW yesterday fuel was $1.34L for ULP, Brisbane was $1.40, today I was in Toowoomba and it was $1.34L and brisbane is $1.41L. 7c/L more in the capital city and the refinery is just up the road, that is disgusting if you ask me.

There used to be a time that regional areas were more expensive, the excuse was increased transport costs. So why it now the capital cities that are more expensive, could that be profiteering?

I believe the excuse theyre using for this new price difference for Brisbane & reigonal is that there is lack of competition due to the absence of independant distributors & outlets. Apparently there is no law in place protecting consumers from the consequence of this, so its either pay what we want to charge, or dont buy it.

I could be wrong though.

geckoGT · 01-03-2011, 10:40 PM

Well, the Mini lease is up this year and we were thinking of getting rid of it for something new. These insane fuel price rises along with increases in rego and a few other car related expenses has caused us to have a re think.

It now looks almost certain that the typhoon will be sold this year, the Mini bought out and a smaller car will replace the typhoon. I am sick of paying so much in car running costs, time for a change.

bobthebilda · 01-03-2011, 11:06 PM

Quote:

Originally Posted by Blue Beast II

How exactly?

No we dont, the oil that is here NOW, realistically should not be influenced by the price per barrel of the oil coming out of the ground NOW. The oil we have NOW came out of the ground MONTHS ago & should be based on the price MONTHS ago......
So the price that the oil is selling at NOW we shouldnt see for MONTHS.
But when the price goes down per barrel, it takes quite long time for it to come down.
Its called profiteering.
.

Unfortunately thats not how a free market works. Oil and petrol work exactly the same way as other goods. If you put your house on the market for $500,000 and then the next day (due to council rezoning) someone tells you all the houses are worth $1 million, would you still sell it for what you wanted, or what you can get.

Australia doesnt have a strategic petroleum reserve etc, and barely at times has more than 2 weeks of petroleum or refined products on hand (which will make us very vulnerable when the next shortage arrives), so we are very exposed to market forces.

As Australia imports are large percentage of its petroleum needs, unfortunately we have to pay world rates. If the saudi's want $100 a barrel, then they will get someone to buy it, if we dont, the chinese/ americans or indians will etc. Unfortunately Australian crude producers (north west shelf, bass strait etc) work on the same principle, they will sell it to the highest bidder, be it an australian refinery or a chinese one.

Whilst it only costs the saudis apparantly $30 to get a barrel of oil, they can sell it for $100 because of such high world demand (ie the world is consuming as fast as oil is coming out). It doesnt matter if 80% of the world oil production costs $50 produce, prices will always match what the last 1% of purchasers are willing to pay. Ironically, without high prices (enough to cover oil production), theres a good chance that oil production will decrease, which will lead to higher prices.

nstg8a · 01-03-2011, 11:09 PM

Quote:

Originally Posted by geckoGT

Well, the Mini lease is up this year and we were thinking of getting rid of it for something new. These insane fuel price rises along with increases in rego and a few other car related expenses has caused us to have a re think.

It now looks almost certain that the typhoon will be sold this year, the Mini bought out and a smaller car will replace the typhoon. I am sick of paying so much in car running costs, time for a change.

ive been thinking along those lines as well, getting a decent bike, and then just a cheap 4 banger ute, or small hatch.

Ben73 · 02-03-2011, 12:31 AM

When I got my P's I remember it getting as high was 1.70 a litre. I had no job and a V6!

My mate got his red P's a few months ago and complains when it reaches 1.30. He has a job.

Even thought it is cheaper now then it used to be, It still should be much less.

**GasoLane** · 03-03-2011, 09:54 PM

Quote:

Originally Posted by Ben73

When I got my P's I remember it getting as high was 1.70 a litre. I had no job and a V6!

My mate got his red P's a few months ago and complains when it reaches 1.30. He has a job.

Even thought it is cheaper now then it used to be, It still should be much less.

Where do you live, Oodnadatta ?

I have never seen any grade petrol that high.

bobthebilda · 03-03-2011, 10:03 PM

Quote:

Originally Posted by GasOLane

Where do you live, Oodnadatta ?

I have never seen any grade petrol that high.

I think he was referring to 2008. I can remember buying Deisel then for $1.80 just outside Adelaide. From memory, Petrol got up to the high $1.60's if not $1.70.

cheap · 03-03-2011, 10:26 PM

Price is now $1.32-$1.34 (and looks like it is going down).

So what plausible explanation would there be for this phenomena?

Where is the ACCC - asleep at the wheel <again>!

mad-xa · 04-03-2011, 09:23 AM

Where is the ACCC - asleep at the wheel <again>! more like counting his kickbacks and deciding which new highbred car he gunna buy...

GT 160 · 04-03-2011, 09:53 AM

Australia is in the Asia-Pacific market.

Australia's fuel prices are determined by the Tapis crude oil benchmark (Singapore) NOT the West Texas Intermediate (the US market benchmark) that the media loves using.

The Singapore price of unleaded petrol (MOPS95) is the key pricing benchmark for Aus.

The US $ per barrel has little bearing on Aus fuel prices.