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Petrol Price

Discussion in 'The Pub' started by spenze, Jun 22, 2010.

  1. I remember a year ago (maybe a little more) the stink that occured when the price of unleaded hit $1.25 / litre. These days I am paying $1.30+ and everyone just seems to be accepting it. . o O ( must be time to release my zero point energy engine on the world )

    Also came back to Melbourne from a short stay in Sydney and the difference in price shocked me.
    5:00pm Sydney $1.19 / l
    8:00pm Melbourne $1.30 / l

    What justification is there for an extra 11¢ / l?
    Does Victoria have a higher road tax?

  2. Don't know about the difference between Melbourne and Sydney. The duty portion of the petrol price is indexed, so it tends to push prices up gently enough that no one complains.

    Also: The AUD has just dropped by about 10%, and the oil price has remained roughly constant at 70-80USD/bbl (WTI). The refinery margin is quite small, so the rise in input costs is felt directly by the consumer.
  3. it was getting up to 1.50, way past 125
  4. Oil companies have played the public for years.
    People started getting used to paying towards $1:50 so when the prices drop down to around $1:20, people feel relieved. But some time last year, cost of a barrel of oil got down that we should have been probably paying under $1 but was never lower than just over $1:10 because oil companies make the most money at that time.

    Bottom line is:
    Petrol prices will always go up as high according to the cost of oil per barrel when it peaks.
    But will never drop as low as it should when it bottoms out.

    I'd say lack of real competition in the market place.
  5. whoever controls oil or food controls the people

    The global reserve currency is oil
  6. There is a service station in Penrith, NSW, that holds there prices for a week, no ups or downs, one price all week.
    They update the price on thursday morning, and post on there website the prices.
    Depending on the day of the week, they can be 15c/ltr cheaper than other stations in the area.
  7. I don't feel so bad now. We pay $1.30 to $1.32 (ulp) in Wagga.
  8. Anyone know a method of extracting oil from the ocean? ;)
  9. Yeah I do, drill a massive hole and let it just FLOAT to the surface.......
    Seems to work in USA.....8-[