Petrol prices reach record high

Submitted: Wednesday, Jun 15, 2005 at 18:43
ThreadID: 23896 Views:1760 Replies:8 FollowUps:6
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Petrol prices reach record high
June 15, 2005 - 4:24PM

RACV petrol price guide http://motoring.racv.com.au/racvm/petrol/index.cfm?RequestTimeout=500

The price of unleaded petrol in Melbourne has jumped more than 14 cents a litre in 24 hours, with Mobil leading the market to a record high price of $1.159.

Having reached a low of 98.9 cents a litre yesterday, the average unleaded price climbed to $1.11 by mid-afternoon.

But there were still bargains on offer, with some independent service stations selling for less than the wholesale price of $1.0005.

RACV spokesman David Cumming said he had heard that one independent station topped $1.159 a litre in response to Mobil lifting its price to $1.149.

"There was a lot of fuel being sold under cost and Mobil decided that we've had enough of this, we're going to move up,'' Mr Cumming told theage.com.au.

"Unfortunately they've gone to a level that's a ridiculously high price based on the wholesale price.

"But they know it's not sustainable and they know damn well that they'll have to come down.''

Mr Cumming said motorists would have to move quickly today to find a low-cost outlet before all stations lifted their price.

"There's still cheap fuel out there. If on the way home you see it, fill up,'' he said.

He said Mobil's decision to push the price up 15 cents a litre was unprecedented.

It followed static prices over the Queen's birthday long weekend.

Mr Cumming said he expected the price to bounce around before settling about $1.10 a litre tomorrow.

"But don't worry, the cycle will start all over again from Sunday,'' he said.

"That discounting was extremely deep, but hopefully it will happen again.''

- theage.com.au
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Reply By: Exploder - Wednesday, Jun 15, 2005 at 19:06

Wednesday, Jun 15, 2005 at 19:06
That is interesting, I have been filling up at a shell in Perth for the last month and paying 97c.pl with out the discount!! Go figure.
AnswerID: 115906

Reply By: Lone Wolf - Wednesday, Jun 15, 2005 at 19:15

Wednesday, Jun 15, 2005 at 19:15
... and the sad thing is....

If you own, say a butchers shop in a town, and I own another one in the same town, and we get together at the pub, and fix some prices..........

Yep, you guessed it! Every small government department with nothing better to do will be all over us.

Morale of the story.....

Don't buy a butchers store!!

Seriously, the yanks held an anti trust suit against Bill Gates......... yet they are being held & bent over the proverbial oil barrel..... literally. Gotta wonder....
AnswerID: 115909

Follow Up By: Member - Bradley- Thursday, Jun 16, 2005 at 17:26

Thursday, Jun 16, 2005 at 17:26
Mate dont forget big g and little g and their cronies are made of oil money, so no problem for them....
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Reply By: Mike Harding - Wednesday, Jun 15, 2005 at 19:24

Wednesday, Jun 15, 2005 at 19:24
I recall (when was it...?) 2 or 3 years ago the Aussie dollar fell to a very low level against the US dollar, less than 50C I think, and petrol prices rose significantly because oil is paid for in US dollars - fair enough.

Now the Aussie dollar sits at 76C? - I don't recall petrol prices falling to reflect the 50% fewer Aussies dollars the local oil companies now have to pay for oil....

Mike Harding
AnswerID: 115912

Follow Up By: Exploder - Wednesday, Jun 15, 2005 at 19:33

Wednesday, Jun 15, 2005 at 19:33
Yep the oil companies are playing duck’s and profits, price cycle my ass.
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Follow Up By: robak (QLD) - Thursday, Jun 16, 2005 at 12:27

Thursday, Jun 16, 2005 at 12:27
Mike,

Perhaps 2 or 3 years ago Saddam was selling oil off very cheaply on the side. Bringing down the overall price of oil in the world. With him out of the way and the US in control of Iraq's oil, there is less competition and therefore higher prices. Looks like we're all being screwed over by a couple of oil families.

R.
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Reply By: angler - Wednesday, Jun 15, 2005 at 20:53

Wednesday, Jun 15, 2005 at 20:53
I read somewhere the other day that some of the problem is with the yanks in the desert.
Report said they use 14.7 million litres a day, Yes I read it twice, they must be doing a lot of pick ups or deliveries of take aways.
I would love to fine it and post it for all to see. Maybe soon.
AnswerID: 115936

Reply By: Wils - Wednesday, Jun 15, 2005 at 22:21

Wednesday, Jun 15, 2005 at 22:21
best way to "force" the oil companies to stop screwing the consumer is to completely boycott Mobil Stations (for example) for a week. They will suffer severly in terms of revenue and have to reduce pricing substantially to shift the product. Consumers then use Mobil fuel, boycotting Shell (for eg), thus Shell have to then drop their pricing to re-attract consumers. A concerted effort like this over a period of time will have all the oilies "working" to attract our business.
AnswerID: 115957

Follow Up By: Member Eric - Thursday, Jun 16, 2005 at 17:51

Thursday, Jun 16, 2005 at 17:51
So Wil . you wil do didly squat with that.

You think they care if you boycot Mobil shops . You do you think supplies all of melbourne ? Mobil

The do litre swap state by state , you give us x amount here , we give you x amount in that state . each state has a main refinary . Caltex / shell ect ect , dont have a refinary in every state . If you wanted to put a small dent into Mobile . you would have to boycot them for a month. that would put a small dint into there company. A dint that small they wouldnt even notice it.
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Follow Up By: Alloy c/t - Thursday, Jun 16, 2005 at 18:49

Thursday, Jun 16, 2005 at 18:49
Laugh out loud each and every time you fill your vehicle ,, boycott a brand ? impossible to get more than 4 to aggree on anything on this forum let alone a boycott of any significance ,, laugh out loud each and every time you fill your vehicle ,soon everyone will laugh with you at the absurd system of fuel pricing and maybe just maybe the pollies will want to know why everyone laughs when fueling up and see the that their bull /bleepe is a matter for mirth.
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Follow Up By: Truckster (Vic) - Friday, Jun 17, 2005 at 09:29

Friday, Jun 17, 2005 at 09:29
God I have tears running down me face everytime I read this Boycott a brand for a day/week/mth crap.

These are multi multi million $ companies.. Unless you boycott them for 3-6 mths they wouldnt give a chit. Then if they did, they would just up the price...

Then when you boycott the next, the same thing would happen, then the prices would never come down.

anyway your only hurting the franchisee of the store.
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Reply By: Muzza - Thursday, Jun 16, 2005 at 19:09

Thursday, Jun 16, 2005 at 19:09
Woolworths Gungahlin (Canberra) - Unleaded 99.9
Diesel 122.9
Both no docket. I far from laugh at that!
AnswerID: 116046

Reply By: geocacher (djcache) - Friday, Jun 17, 2005 at 00:37

Friday, Jun 17, 2005 at 00:37
Do I win?? Bowser not drum. $2.20 per litre at Kunnawarritji. May 2005

Dave

AnswerID: 116098

Reply By: Coops (Kalgoorlie) - Friday, Jun 17, 2005 at 20:42

Friday, Jun 17, 2005 at 20:42
I paid $1.25 for BP Ultimate (PULP) today at Southern Cross and $1.05 last night in Perth which was the cheapest I'd seen in 14 days
AnswerID: 116186

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