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.
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