Stand by for fuel price surge

I think the word you want is scuttle but and if you look up the meaning of that word and check what has happened to the dollar over the lasst three days you will find it isn't scuttlebut.

Got to agree with you on this one DIO. WHO CARES, you have to have fuel, so just get on with life and worry about things that really matter. And no, i'm not rich. You have to have it so grin and bear it.

Current oil price per barrel $119.73....and still the price at the bowser is only creeping down!

$1.76.9 a litre at Australind WA

Creeping down....???? In Belrose, where I live, the price was $1.34 on Monday & Tuesday...(Wooloies discount price). Yesterday & today it is $1.54...what the f#$$@$%&& is going on...??? Did the price per barrel go up on Wednesday....NO so come on you miserable b.....s at Woolies etc, play the bloody game fair. I for one, will not buy fuel on that basis..I'd rather walk.
And where is the fuel commissioner now...??? What is he/she doing about this utter scam??

And where is the fuel commissioner now...??? What is he/she doing about this utter scam??

Hey Don,
Their probably in China with every other Government official Visiting Rudds Overlords.

It's a blooding Joke.

$118.34 ATM

Unless the Govt gets into the business of Oil Exploration, Refining & Selling, there is Fudge all to be done about it.

Irrespective of what price Oil is per barrell, there is nothing in place that states that petrol must be X.

Its big Corporations that can sell at what they see fit.

If it was your business, you would charge as much as you could get away with.

Doesn't mean I'm happy with it all.

Redbakk, you just don't get it. When intersest rates were low here, oil prices were relatively low. Over the last 18 months we have been protected from the worst of the oil price rises because although oil prices have gone up, the Australian dollar has been high against the US $. ie. it has made it cheap for us to buy imported fuel. What has happened in the last week is that oil prices have again started to rise and there has been a rapid drop in the value of the Oz $. This has to mean a big rise in the price of fuel here in addition to any overseas oil price rise. Those who answered saying we are being ripped off need to think a bit more. Our prices have been low compared to many parts of the world, but unless the Oz $ does a reverse, our prices will move up faster than the overseras oil price rises.

Thje fuel commissioner resigned a few days ago (personal reasons).. He probably realised that his job was a sham!!! Michael

It's Screwed me I was going to town tomorrow.
I'll have to put that off.

:O

Sorry, but the Oz $ has fallen almost 10% in the last three weeks. So while the cost of oil was falling over tha last few weeks, it was falling rtelative to the US$, not the oz $. So those compaining about why we haven't had big falls at the bowser price need to do some homework on how international exchange rates work and not assume we are being ripped off.

Old doom and gloom himself

True. But I suggest that it's wiser to look at what is happening than to put your head in the proverbial and just trust it will all be OK.

So fuel would have been cheaper and interest rates would be lower if Johnny boy was still there aye ? maybe I shoulda voted for him...................................

Most definately!!! Absolutely no doubt about it! Look at the inflation figures. Teachers in Vic. Whinged and went on strike for a minimum wage just out of school of $50000. Got it ! And they are now going for $100000!!!! And 12 weeks holidays!! And all the other unions are lined up for their bit!!! As I said Kevin 7/11 (in in 07 out in 11) For all our sakes! I will bet that fuel excise increases to pay for them.
Ian

Ian mate seriously the WHOLE planet is in the $hit, its not just one government, honest mate thats a daft claim to make , it really gets right up my left nostrel when you get Nelson saying what are you going to do about fuel prices, WHAT did THEY do when they were in power ??? did they step in and curb taxes ? but now thier out !!! The fact is they LOST because they thought they could impose just about ANYTHING they wanted on us and it blew up in their face, and thier still so arrogant they cant see WTF they done wrong, for the record Maggi done the exact same thing in the UK , no mate governments NEED a shock every now and then to remind them THEY work for US and not the other way round,no, labours no where near perfect but if your working class your choices are limited in who you vote for and the Libs are for the rich and us plebs get thrown a crumb every now and then just to keep them there, but hey it wont matter a jot we'll all still be whinging no matter who's there,
regards,
Dave

A brief history lesson Ian.

John Howard, as Treasurer, in 1979 introduced "World Parity" petrol pricing which saw it skyrocket. Then as Prime Minister he intoduced GST 2000.

These two taxes combined add up to over 50 cents per litre.

These are undisputable facts.

Howard did also offer the $2000 grant for fitting LPG. For this I commend him and have taken advantage of it.

And in answer to your question, Me.

Jim.

50 cents in 29 years aint so bad!

Kevin gets in and in 6 months the price is up by 60 cents.

You are hard to please mate! Johnny puts 2 grand in your pocket and you are still whinging!!

Kevins mob havent started reversing the Australian economy yet!

But they will!!! Bet on it.

Ian

Ian, Mate your doing it again, what your saying is if Howard was still in power the price of fuel would not have gone up by 60 cents ??? Ian your on a web site where a lot of people are reading your comments !!!
enough said ?

Catching a few fish to, eh?
Ian

HAHA Good one mate you got me hook line and all, just glad we're still talking, remeber when I'm president there WILL be changes,
best wishes,
Dave

Jim, thanks for the history lesson but I am certain it was Bob Hawk who brought in the "oil price parity" policy. It was put in place so that the extra monies the oil companies got for our Aus produced oil could ensure further oil exploration - dunno if it has done any good though. I think the valid point with recent politics is that Kevin 07 promised something he could not deliver, and people believed him instead of working it our for themselves and moving onto policies where we can make a difference.
Happy camping,
Mike.

"From 1977 to 1 January 1988, Australian crude oil production was priced via an import parity pricing formula. This effectively took the prevailing world crude price into account but applied a number of other factors such as the cost of importing crude oil. Up until 1977, the price of crude oil produced in Australia was largely set independently of the world market. The world crude oil market experienced a severe shock in the early seventies, with the West Texas Intermediate price rising from an average of $US3.87 a barrel to $US10.37 a barrel in 1974. The rationale in Australia at that time was that the indigenous price of crude should be cheap, as it was being produced in plentiful supply from the then relatively new Gippsland basin (in Bass Strait) oil fields. However, as time progressed Australia moved to the concept of import parity pricing.

It has been argued that attempts to hold down the price of Australian crude oil artificially in order to prevent increases at the retail level would have a number of adverse impacts. First it would induce Australian producers to export oil rather than supply the domestic market in order to take advantage of the higher international prices. Second, it would reduce the incentive to conserve a scarce resourcecrude oilwhich is already in decline in Australia. Finally, artificially holding down Australian crude oil prices would discourage investment in oil exploration and development with serious long-term consequences to our ability to supply our own needs.(28)

The then Hawke Government fully deregulated the domestic crude oil market on 1 January 1988 and as a consequence Australia now both sells and buys crude oil on the prevailing world market"

So Mike is somewhat correct in that it was Hawke who fully deregulated the Australian oil market.

Mike,

Hawke was not even a politician when Fraser/Howard introduced World Parity Oil Pricing.

My point here is that any suggestion that oil prices would be lower had Howard remained in power are fanciful. The fact is Howard applied the taxes that we now have on fuel. I'm not saying there is anything wrong with that, governments all around the world collect tax via fuel.

The suggestion that Rudd has caused the price of fuel to go up is absurd.

Rudd making claims that he would try to do something about lowering fuel prices was just plain stupid. And that is what is biting him on the arse.

Jim.

You're right. And the day before it had risen again. The point of this post was to draw attention to the impact the falling dollar (check the news this morning on that - it slipped again overnight). Fuel prices will not be falling here in line with the oil per barrel price drops.