Think you're being ripped offon fuel prices? You may be right.

[DiscoMick]

Good to see the ACCC getting active on fuel prices.

Sen ACCC launches court action against petrol retailers for alleged price fixing | World news | theguardian.com (http://www.theguardian.com/world/2014/aug/20/accc-launches-court-action-against-petrol-retailers-for-alleged-price-fixing) t from my GT-P5210 using AULRO mobile app


Apparently there is a website where fuel companies can propose price rises to each other. Sounds like price-fixing to me.

[DiscoMick]

I remember about two weeks ago paying 141.9 at a Puma station for unleaded and then driving past a row of servos selling unleaded for 161.9 and wondering how they could justify charging 20 cents extra.
Thursday seems to be the best day to buy fuel here at the moment.

[Gerokent]

I remember about two weeks ago paying 141.9 at a Puma station for unleaded and then driving past a row of servos selling unleaded for 161.9 and wondering how they could justify charging 20 cents extra.
Thursday seems to be the best day to buy fuel here at the moment.

An extra $20.00 per 100 litres might not seem much to the individual, but to the oil companies this must be huge (or is it the retailers?)

[PhilipA]

Hah, IMHO this is just window dressing by the government to lessen the impact of the excise increase.

The real ripoff is by the oil majors who now import most refined fuel from Singapore.
Now who owns the biggest refinery in Singapore? Shell does.

Of course there couldn't be transfer pricing could there.

Just cast your mind back about 10-15 years when the oil price was USD 150 a barrel and the AUD about where it is now. The petrol price was about $1.50. and I recall the furore when it hit 1.50.

The oil price now is $95 per barrel. When the oil price was last $95 a barrel petrol prices were AFAIR about $1 to 1.20. and the AUD-USD relationship similar.
I was talking to a friend who was a senior exec in Esso a couple of days ago and when I said that he just said, "The government cannot control it . they have no idea."
I believe there is lots an Australian government can do but the Labor Government wanted the price to rise so did nothing and the Libs also don't care.

Regards Philip A

[PhilipA]

This is an interesting analysis which says that petrol prices should be stable over the decade but in 2009 , the predicted 2014 price is much lower than the actual.
Regards Philip A
http://www.google.com.au/url'sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=5&ved=0CDYQFjAE&url=http%3A%2F%2Fwww.atrf.info%2Fpapers%2F2010%2F2 010_Gargett.pdf&ei=Gmz1U53XEcOQuASByICIBA&usg=AFQjCNHzp9Q393pWWPcDnRgZgDKXe9Nq6g

[DiscoMick]

Yeah, I admit I don't understand how it works in reality, as opposed to theory.

[sashadidi]

I believe there is lots an Australian government can do but the Labor Government wanted the price to rise so did nothing and the Libs also don't care.

Regards Philip A

What do you think they could do????

[PhilipA]

Its been a long time since I have been briefed by the then Department of Minerals and Energy however I think I recall the basics.

The government could do a transfer pricing investigation into Shell particularly as they AFAIK are market leader. Investigate the refinery margins in Singapore and other Asian countries vs the price that Shell Australia are paying Shell in Singapore.

Regards Philip A