Oil prices PLUMMET.

[Kryton]

http://news.ninemsn.com.au/article.aspx?id=3477
well interesting read to say the least. a few contradictions here and there but ill guess we'll wait and see if we do get cheaper petrol next week.
this really made me laugh though:
"It takes about seven to ten days for changes in world crude oil prices to effect at the petrol pump," he said.
funny that the same day oil rises so does petrol, yet when oil drops it takes 7-10 days for the price to come down.

[RG]

YAAAAAY!!! When you use as much petrol as I do any price drop is welcome. I do 220 kay a DAY 4-5 days a week.

[V8 Ghia]

Cool, might hold off on filling up the ED for another week.

[MrSparkle]

Now, if only there could be something done about all the price fixing...

[FordFan86]

damn, that's some driving meanie.. what for? etc... :S

[Dodge]

i hear that in WA they have to advertise the folling days petor price, so there is no jumping under ur nose. i cant see how oil prices should worry us, we make enough crude oil here to kick the offshore companies of our land, and + there is very little oil going into fuel these days, its all chemical or lab made

[GTP 320]

I might be able to take the GT for a spin lol .It's been sitting there for 3 weeks without being fired up.(only due to work etc.) lol
Cheers John

[Thornie]

Originally Posted by MrSparkle

Now, if only there could be something done about all the price fixing...

damn straight the fuel companys should be strung up by there balls for it

[XR Martin]

116.9 here at one servo here today for regular :rolleyes:

[Ride]

Originally Posted by Dodge

i hear that in WA they have to advertise the folling days petor price, so there is no jumping under ur nose. i cant see how oil prices should worry us, we make enough crude oil here to kick the offshore companies of our land, and + there is very little oil going into fuel these days, its all chemical or lab made

I'll say this once, and once only....

What the **** have you been smoking?

[Sprint_ED]

its funny ive never had ceap petrol i had gas, sold the car got the one i have not the firt week i was paing 98c for premium, couple of weeks later i havnt bout any fuel under 1.10

[Yaw]

Originally Posted by Dodge

i hear that in WA they have to advertise the folling days petor price, so there is no jumping under ur nose. i cant see how oil prices should worry us, we make enough crude oil here to kick the offshore companies of our land, and + there is very little oil going into fuel these days, its all chemical or lab made

Uhhhh we don't have any australian oil companies.
Ampol was the one and only refinery that we "did" have at Lytton.
When the ampol Caltex merge went through it was 50;50 for a while, its now fully owened and opperated by Caltex.
Caltex is actually short for Californian Texaco. it is a joint venture between Chevron and Texaco.
Shell is from memory a swiss or danish oil company
BP stands for British Petroleum.
Mobil is English and american also.
Mobil bought out Esso
I think Esso have a subsiduary called essolex that has oil rigs in the bass straight. I am pretty sure Esso too is europian.
have I missed any ?

[Racecraft]

I heard quickly on the local radio pump prices will only come down 6 or 7 cents... pffft
Oil Companies are nothing nore than a legal cartel.

[Mike Gayner]

Wait a minute - Australias record high is 108.7c and you guys bitch about the price of petrol? Jesus Christ....

[RG]

Originally Posted by FordFan86

damn, that's some driving meanie.. what for? etc... :S

Live in Ballarat work in Melbourne.

[Dodge]

i did a job at Jackson , corner of QLD and SA , they pump out crude oil and its good enough out of the ground to run in ur diesel cars, we send offshore to a forign company they mix it up with crap and send it back to make a few $ out of it. we are self sufficient here with oil and sugar cain to kick out the OS big boys , but then who would pay our pollititions big wages

[Psycho Chicken]

No doubt a certain federal party sold most of our oil and the rights to mine it.....*cough*

Originally Posted by Mike Gayner

Wait a minute - Australias record high is 108.7c and you guys bitch about the price of petrol? Jesus Christ....

The record high is 108.7? Shit, someone tell me where I can get it for that much, I've gotta fill up.

[xceler8shun]

record high of 108.7 my a$$, it's atleast $1.179 here for normal, 1.257 for optimax and pushing 1.309 for ultimate

[RG]

Originally Posted by Xcel

record high of 108.7 my a$$, it's atleast $1.179 here for normal, 1.257 for optimax and pushing 1.309 for ultimate

I think he meant wholesale price.

[xceler8shun]

who writes these damn articles

quote from http://news.ninemsn.com.au/article.aspx?id=3477
"The NSW central coast town of Manning Point hiked prices to 155 cents per litre for unleaded fuel."

Manning point is in the damn Mid North Coast, I used to live acroos the river at Harrington. If the writers cant even get their atlas or maps out and get the geography right, the claim of 155 cpl is probably BS as well

[Citric GT]

Originally Posted by Xcel

who writes these damn articles

quote from http://news.ninemsn.com.au/article.aspx?id=3477
"The NSW central coast town of Manning Point hiked prices to 155 cents per litre for unleaded fuel."

Manning point is in the damn Mid North Coast, I used to live acroos the river at Harrington. If the writers cant even get their atlas or maps out and get the geography right, the claim of 155 cpl is probably BS as well

It seems everything is on the Central Coast... last week I read an article talking about the Central Coast township of Berry...lol.

Originally Posted by RaTTuS

damn straight the fuel companys should be strung up by there balls for it

Its not so much the fuel company. Have alook at the excise and gst charged.

Fuel at the gate is 50 cpl + retail margin and transport -/+ 10c . add excise GST it doubles.

http://www.shell.com.au/petrolpricing_scuba/sydney.asp

[Mike Gayner]

Originally Posted by Greenmeanie

I think he meant wholesale price.

Ah I must have misread, I thought it meant Australias record fuel price was $1.08, didn't realise it meant wholesale price. I was shitting myself for a second!!

Originally Posted by davway

this really made me laugh though:
"It takes about seven to ten days for changes in world crude oil prices to effect at the petrol pump," he said.
funny that the same day oil rises so does petrol, yet when oil drops it takes 7-10 days for the price to come down.

It's called capitalism.

When a retailer buys X litres of fuel at price Y they only have to sell it at Y + taxes + profit + etc until that tank runs dry and they need to buy more. They increase it with the oil price because they can. It's the same with price reductions, they string it out for as long as they can because it makes them more money. Ain't our free economy great?