Thread: Fuel prices

It will get to the point where no one will travel soon . Just going to the next town will be a big thing in a couple of years . But if everyone stops driving as much the price will drop after a while with full stock piles . Just a lot of money hungry people in the world right now .

Just had a look at oil prices and it's at $110 a barrel . Thats double what it was 3 years ago .

May just be trying to soften us up, but there was an oil spokesperson on TV the other day predicting (IIRC) petrol prices would be $5/litre within 5 years.

Don't like the sound of that


Martyn

its going to go well up there trying to bring us on par with the euros ect

Do you realy think that even collectively our 90L fuel tanks are enough to influence the supply & demand balance? They're not, "no fill Wednesdays" and the like have no effect, you still use the same amount of fuel. Mines and no doubt other industries use in excess of 100,000L a day.

On the price issue, terminal gate price is related to the spot price in Singas, this can change daily. The catch is the contract price (how over 90% of fuel is traded) is under 1/2 of spot price. Half of what we pay at the bowser goes to the Government in various forms, so it is not in their interest to lower the cost, despite inquiries fiddling round the edges.

Next time you fill up don't whinge at the console operator, those poor sod are only there for the lousy $500 a week, even the site owner/manager is not making millions; the Government & overseas owned oil Companies are raking it in by the squillions though.

No I don't think your 90L will have much influence on the price, sorry.

Market prices are more determined by oil traders predicting fuel price hikes in relation to expected oil shortages caused by disasters or war which really do't impact on oil availability on market. Oil has jumped up from mod 30's to 110 purely based on speculation. Problem is once traders realise buyers will continue to payout on these exhorbitant prices the last market jump shock becomes the new floor for fuel prices.

Disagree people stop using their cars or move to smaller cars as 1970's fuel was 13 cents litre now 1.40 litre people still doing the 20,000 km per year average mileage, public transport useage in cities haven't doubled even after city cbd car parking prices gone past $15 a day parking costs on top of your fuel, rego and insurance costs.

the cost of producing oil hasn't gone up and rising market prices means more oil reserves are becoming feasible for extraction which on lower prices didn't justify the expoloration extraction costs.

You notice also alternative fuel technology sources such as shale oil have not emerged as market providers and electric cars aren't being sold on the market and of course once oil prices rises for some reason they think lpg prices can go up to in relation to petrol when again no real reason for price hike justified.

yes fuel prices are a rip off of the market traders not the oil producing nations, they no longer have to raise prices under opec they merely let greedy american future market traders do it for them.

as Marx once said "the capitalist will sell you the rope used to hang himself with."

I follow the oil price with interest. It's quite amazing who volatile it is. The last jump was based on decreased reserves in the US, the oil traders took this as increased demand. The truth was that US refineries operated below capacity because they know the US is heading for recession and believe they don't need as much in reserve. The oil market is not following the supply/demand rules that other markets follow.

How about this for news? Dorgan: Study on oil potential in Bakken formation to be released... | KXNet.com North Dakota News

Originally Posted by Ian

Do you realy think that even collectively our 90L fuel tanks are enough to influence the supply & demand balance? They're not, "no fill Wednesdays" and the like have no effect, you still use the same amount of fuel. Mines and no doubt other industries use in excess of 100,000L a day.

On the price issue, terminal gate price is related to the spot price in Singas, this can change daily. The catch is the contract price (how over 90% of fuel is traded) is under 1/2 of spot price. Half of what we pay at the bowser goes to the Government in various forms, so it is not in their interest to lower the cost, despite inquiries fiddling round the edges.

Next time you fill up don't whinge at the console operator, those poor sod are only there for the lousy $500 a week, even the site owner/manager is not making millions; the Government & overseas owned oil Companies are raking it in by the squillions though.

No I don't think your 90L will have much influence on the price, sorry.

Just my 90l tank won't change much but the millions of people that are staying home on a weekend instead of going away for day trips and whatever are using less fuel and the thousands of people staying home instead of going on holidays because fuel prices are crap are using less fuel .
air tickets will go up again soon because of fuel costs so less will fly there for not as many flights using less fuel . Less buses on the road because people can't afford the ticket for a bus trip holiday . I think it will make a difference . Might not be now but it will happen sooner or later .

Why is diesel 10 cents dearer than ULP ??

And who controls the price of diesel ??