ACCC - Petrol Pricing Submission
Submitted: Friday, Nov 03, 2006 at 14:38
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The Landy
Following is a link to a recent submission by the ACCC (July 2006) to the Senate Economics Legislation Committee inquiry into the price of petrol in Australia.
The document provides a lot of information on many issues that are frequently and hotly debated within these
forum pages; it may not quell the disquiet, but it at least provides some solid facts.
In posting it I neither endorse nor refute it, but simply point to its availability as a source to gain a better understanding on what has happened historically and what is happening today. This is a lengthy submission, but those who take the time to read or at least skim through some of the
topics should find it enlightening.
Some of the
topics that would be of interest to many here are found in Section 4 (Determinants of petrol pricing), Section 5 (Variations in retail petrol prices), and Section 7 (Role of the ACCC in the petrol industry).
Ps: Don’t shoot the messenger!
http://www.accc.gov.au/content/item.phtml?itemId=764980&nodeId=a7a559925b4d3c283f2b10870f67d680&fn=Senate%20submission%20to%20petrol%20inquiry.pdf
Reply By: troopyman - Friday, Nov 03, 2006 at 14:56
Friday, Nov 03, 2006 at 14:56
ACCC, paper tiger GRRRRRRRRRRRR.
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Reply By: Footloose - Friday, Nov 03, 2006 at 15:35
Friday, Nov 03, 2006 at 15:35
I noted a few things
The ACCC report was only one of quite a few submissions to the Senate Committee.
Within their report were mentions of ACCC actions against some very unsavoury practises in different states.
Some of the ACCC's statements appeared to be at odds with published findings in the States. I'll take a longer look later.
Weekly variations in fuel appeared to have decreased markedly since around about the date of this submission ? At least around here.
I failed to see any relationship between prices and company profits ?? There are a lot of sources of concern here, including
Site Link
Site Link
zfacts.com/p/348.html
These are American sources. But I believe that the Yanks do consume 25% of the world's oil
The Committee is not due to release their final report until the end of November.
The interim report does not appear to be availiable online, so we've little idea what the recommendations are.
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Follow Up By: Footloose - Friday, Nov 03, 2006 at 15:46
Friday, Nov 03, 2006 at 15:46
Of course if I were a real cynic, I could ask whether the various oil companies or their representatives donate to political parties.
The only figures I've seen are for State political parties ...and I'd guess a proportion would flow to their Federal mobs.
However I've been unable to discover any sizeable donations marked "oil interests". Not surprising, as companies are run by people and I'd have to know who had their finger in which pie.
Oh
well, it seemed a good idea at the time :)))
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Follow Up By: The Landy - Tuesday, Nov 07, 2006 at 12:10
Tuesday, Nov 07, 2006 at 12:10
This story touches on the impact of an excess in refining capacity around 2002. Certainly this impacted on profitabililty and recuced capital investment.
It also highlights the difference between Replacement Cost Operating Profit (RCOP) and conventionally accounted profit. This is an important consideration, especially in the context of the earlier thread on the massive increase in profits. As many of the refiners are actually oil producers and clearly the rising oil prices has provided a massive boost to prices.
Food for thought........
Site Link
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Follow Up By: The Landy - Tuesday, Nov 07, 2006 at 13:48
Tuesday, Nov 07, 2006 at 13:48
meant to say a 'massive boost to profits' ......in the last sentence.
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Reply By: Mr Fawlty - Friday, Nov 03, 2006 at 17:54
Friday, Nov 03, 2006 at 17:54
Yeah
well I am a total cynic where our government is concerned.... the ONLY thing that will rein in petrol prices is the desires of Political aspirants near elections.... You, you, you I I I, Mark my words....
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Follow Up By: The Landy - Thursday, Nov 09, 2006 at 11:20
Thursday, Nov 09, 2006 at 11:20
Hi Mr Fawlty
How do you think this will occur...from what I can see the only control the government has over prices is the excise and GST charges, these are the only price inputs it can influence.
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Follow Up By: Mr Fawlty - Thursday, Nov 09, 2006 at 13:24
Thursday, Nov 09, 2006 at 13:24
Sorry, I was being facietious....
I do think, however, that we do not know a whole lot about Oil pricing....My suspicions are always aroused in discussions about this sort of thing...There just seem to be to many coincidences for me not to have beliefs that we in actual fact have our fuel prices controlled by some sort of collusion with the Government involved.
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Reply By: kiwicol - Friday, Nov 03, 2006 at 22:31
Friday, Nov 03, 2006 at 22:31
Hi all, the only thing common about fuel prices is greed, i live far nth QLD and travell from
Cairns to
Karumba 3 times a week, the price of fuel at Mt Garnet BP independtly owened servo ( diesel ) $137.9, Georgrtown about 200 ks down the road from
Cairns $127.9,
Croydon another 150ks $132.9, fuel like any other comodody, its governed by what people will pay, its got nothing to do with the accc or the gov. Same as the price of bannas after the cyclone thy went up by $$$$ a kilo only hours after the cyclone did we have a royal commison, we should have as i am sure the farmers never saw that sort of profit. Fuel same as anything else is governed by democrocy = money= profit Col
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