Wots going on with crude oil?

[GASWAGON]

Why is'nt petrol back down to a dollar per litre?

I thought there was was an over supply of oil around the world lately?

[Nikked]

Our price goes of the Singapore unleaded price...so..

We might be paying 50 c/l for oil, but we pay 60 c/l for the unleaded. We then have 40 c/l excise on that. Then the wholesale adds its mark up, then the individual stations add there mark up...

So it easily goes over a dollar a liter..

[Itsme]

Originally Posted by CoolBFWagon

Why is'nt petrol back down to a dollar per litre?

I thought there was was an over supply of oil around the world lately?

As I'm aware of at the moment the oil cartels have pushed the price up by deliberately limiting production which is why we are paying high prices now but there are talks of pressure being exerted on them to ramp up production soon to lower prices.

[GASWAGON]

Originally Posted by trublu

As I'm aware of at the moment the oil cartels have pushed the price up by deliberately limiting production which is why we are paying high prices now but there are talks of pressure being exerted on them to ramp up production soon to lower prices.

Good.....About bloody time.

[Dauphin]

I wonder if all the military actions of late cause increases in demand/supply changes from producers.

[GO FURTHER]

Definite increase this week.... Paid $1.62 for 98 today.... last week $1.39

[GASWAGON]

I just filled up with 91 at a United and it cost me $80.

98 was $1.60.

Where back in the days of 'Peak Oil'.

[joolz]

I don't know how it can be justified that in Melbourne today 91ulp $1.39.9 but cheaper in Ararat $1.25.9... Melbourne motorists being ripped off again!!

[GASWAGON]

Originally Posted by joolz

I don't know how it can be justified that in Melbourne today 91ulp $1.39.9 but cheaper in Ararat $1.25.9... Melbourne motorists being ripped off again!!

Bloody hell......

[M&Ms]

I hate the constant up and down. If only they chose the average price and stuck with that for 6 months at a time.

Today I filled up Caltex 98 for $1.399/L, plus 4c off got it for $1.359 (saved two bucks fifty!)

[M&Ms]

Double Post

[aussie muscle]

Originally Posted by CoolBFWagon

Why is'nt petrol back down to a dollar per litre?

I thought there was was an over supply of oil around the world lately?

that's the way they rort the system. when a war breaks out in the middle east, the price will jump sharply before the tank at the petrol station has even been emptied. When it comes back down, the price will very very slowly come back down while they maximise profits before their next price war.

Originally Posted by Nikked

Our price goes of the Singapore unleaded price...so.

that price is set. it's not a market force driven floating price.

[GASWAGON]

Yesterday the local Caltex was $1.15 ULP.

Today $1.39. Not even going to look at the price 98 tmrw if fill up.

What the bloody hell would cause this its just a normal weekend?

I knew I should have filled up yesterday.

[GASWAGON]

Saw on the news this morning that ULP in QLD has jumped 30cents from $1.41 overnight!

But then they said Syd/Melbs should drop about 6cents instead of rising for the long weekend.

[XR6Runner]

Hehe the difference between 1.39/L and 1.60/L on a 62L tank is only $12.4. I honestly don't understand why some people complain about the price difference. At least we aren't paying over $2/L like in Europe.

[lari1eye]

These prices are from various charts. The international price of crude crashed mid 2014, like a 50% crash but that was not reflected in our bowser price. The value of the Aussie dollar has some bearing on these fluctations.

Average Aust Metro Bowser- highest price: April 2014: $1.58
: April 2015: $1.35
: April 2016: $1.20
: April 2017: $1.29
Crude oil barrel price: beginning 2014.......$98 US
" " 2015.......$49 US
" " 2016.......$33 US
" " 2017.......$54 US

A lot of funny business going on because the government is making so much money from the excise. I don't get it either. Cheers Larry

[ronwest]

Originally Posted by lari1eye

A lot of funny business going on because the government is making so much money from the excise. I don't get it either.

Oil companies and banks are sacred cows in this country.

When fuel is cheaper at Penong (edge of the Nullarbor) than it is in Brisbane you know that something is rotten in the state of Denmark.

[Tassie f100]

Originally Posted by XR6Runner

Hehe the difference between 1.39/L and 1.60/L on a 62L tank is only $12.4. I honestly don't understand why some people complain about the price difference. At least we aren't paying over $2/L like in Europe.

Yeah and when you are using 4000 litres per year then you are up for another $800.Then freight costs go up,so then your $12 tank becomes $1200-1500 per year.

[nuthin' fancy]

Originally Posted by Dauphin

I wonder if all the military actions of late cause increases in demand/supply changes from producers.

I saw the annual results for Caltex a year ago. They had a good year and attributed it to the sesrch for the Malasian Airlines plane in the Indian Ocean.

[BigJamo]

Saving money was a bonus with our Hyundai.
The difference in cost kept the old Falcon on the road for the year for nothing.

[Stefan]

Originally Posted by lari1eye

These prices are from various charts. The international price of crude crashed mid 2014, like a 50% crash but that was not reflected in our bowser price. The value of the Aussie dollar has some bearing on these fluctations.

Average Aust Metro Bowser- highest price: April 2014: $1.58
: April 2015: $1.35
: April 2016: $1.20
: April 2017: $1.29
Crude oil barrel price: beginning 2014.......$98 US
" " 2015.......$49 US
" " 2016.......$33 US
" " 2017.......$54 US

A lot of funny business going on because the government is making so much money from the excise. I don't get it either. Cheers Larry

Dp you actually realise that the cost of crude oil only represents a fraction of the fuel price. Turning crude oil into petrol is the majority of the cost and taxes so a 50% drop in oil cost does not mean a 50% drop in fuel cost.

It amazes me how few aduld do not understand this..

[CyberWasp]

Once someone works out how the Petrol Price works can someone also explain why a litre of Coca Cola costs more than a litre of Petrol considering the time to manufacture , effort and transport distances between the two.

[Tassie f100]

Originally Posted by CyberWasp

Once someone works out how the Petrol Price works can someone also explain why a litre of Coca Cola costs more than a litre of Petrol considering the time to manufacture , effort and transport distances between the two.

Then tell us all why a litre of beer costs about 10 times as much as 1 litre of petrol

[lari1eye]

Originally Posted by Stefan

Dp you actually realise that the cost of crude oil only represents a fraction of the fuel price. Turning crude oil into petrol is the majority of the cost and taxes so a 50% drop in oil cost does not mean a 50% drop in fuel cost.

It amazes me how few aduld do not understand this..

Thanks for this. I am just trying understand it a little better.
I've dug a bit deeper [Google is your best friend] and found a BBC news investigation from 2011...in England, "The cost of petrol and oil..how it breaks down"
According to them, as mentioned previously, that the UK governments GST, VAT, Excise, profits tax, etc are the biggest costs, 60%,
cost of the oil, includes exploring, drilling, sea platforms, etc. is about 30% and cost of refining is about 3%, retailer margin about 5% to 7%.
This is from England, so a little bit different here.
For all I know, it could all a BIG lie. They wouldn't do that would they?
This week in Brisbane area, it was revealed that Brisbane servos' profits are 50% higher than any other servos in Australia. Also, at the high end of the fuel cycle, 11c PER LITRE was the margin in some cases.
Anyway cheers.

[Stefan]

Originally Posted by CyberWasp

Once someone works out how the Petrol Price works can someone also explain why a litre of Coca Cola costs more than a litre of Petrol considering the time to manufacture , effort and transport distances between the two.

Is there any relationship between the two? Are you saying perol is too cheap?

I'm considering buying one of these:
http://www.ebay.com.au/itm/GENUINE-B...-/281656240651

So I can go around hunting for the cheapest price and buy it in bulk. Its a bit expensive though at $1,155

It has a 120 litre capacity.

If I combined that with LPG I could easily get 200 litres underneath the back of my wagon.

[XR6Runner]

Originally Posted by Tassie f100

Yeah and when you are using 4000 litres per year then you are up for another $800.Then freight costs go up,so then your $12 tank becomes $1200-1500 per year.

I don't see the problem? I'm more than happy to pay the price. If you're so concerned about saving $12 a week, catch a bus, or cut down on beer/smokes. Make your coffee at home, go LPG?

I'll keep filling up and not care about how many cents more the petrol is compared to last week, and keep enjoying my xr6t hehe

[Tassie f100]

Maybe if you don't see a problem with ever rising costs then you have a problem

[Hardtopxb]

I think the main reason for the up and down bulk oil price is World wide demand. At the moment the USA is supplying a lot of it's own oil. So, the Arab oil suppliers put up the barrel price to compensate for the fall in demand.. JMO..

[XR6Runner]

Originally Posted by Tassie f100

Maybe if you don't see a problem with ever rising costs then you have a problem

Time to get a bus pass then.