Australian Politics Forum - Oil prices hitting record high

Sir lastnail Gold Member Offline Australian Politics Posts: 29705 Gender:	Oil prices hitting record high - ULP up to $1.55 ! Mar 24^th, 2011 at 10:43am Yep it's not getting any cheaper Soon it will be $1.80 per liter. There is some motoring dude on Today Tonight telling everyone how he can save them bucks at the pump as though petrol only costs $1.00 per liter LOL Put the the right pressure in your tyres LOL
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Andrei.Hicks Gold Member Offline Australian Politics Posts: 23818 Carlsbad, CA Gender:	Re: Oil prices hitting record high - ULP up to $1.55 ! Reply #1 - Mar 24^th, 2011 at 10:45am In our company, oil per barrel contracts are locked in on a 1+2+3 month pre-purchase basis. Therefore the rise in the oil price affects the result up to 3 months out mate. Pretty sure the other 'big 5' follow the same pattern.
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Sir lastnail Gold Member Offline Australian Politics Posts: 29705 Gender:	Re: Oil prices hitting record high - ULP up to $1.55 ! Reply #2 - Mar 24^th, 2011 at 10:51am Andrei.Hicks wrote on Mar 24^th, 2011 at 10:45am: In our company, oil per barrel contracts are locked in on a 1+2+3 month pre-purchase basis. Therefore the rise in the oil price affects the result up to 3 months out mate. Pretty sure the other 'big 5' follow the same pattern. So ??
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Andrei.Hicks Gold Member Offline Australian Politics Posts: 23818 Carlsbad, CA Gender:	Re: Oil prices hitting record high - ULP up to $1.55 ! Reply #3 - Mar 24^th, 2011 at 10:52am Therefore because the price of a barrel of oil goes up, it doesn't have an immediate pricing pressure on the cost of a liter of petrol.
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Team Froggie Gold Member Offline Australian Politics Posts: 7406 Sydney Gender:	Re: Oil prices hitting record high - ULP up to $1.55 ! Reply #4 - Mar 24^th, 2011 at 10:56am Andrei.Hicks wrote on Mar 24^th, 2011 at 10:52am: Therefore because the price of a barrel of oil goes up, it doesn't have an immediate pricing pressure on the cost of a liter of petrol. So you are saying that we are being ripped off by the oil companies/retailers??
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Andrei.Hicks

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Re: Oil prices hitting record high - ULP up to $1.55 !
Reply #5 - Mar 24^th, 2011 at 11:00am

Team Froggie wrote on Mar 24^th, 2011 at 10:56am:

Andrei.Hicks wrote on Mar 24^th, 2011 at 10:52am:

Therefore because the price of a barrel of oil goes up, it doesn't have an immediate pricing pressure on the cost of a liter of petrol.

So you are saying that we are being ripped off by the oil companies/retailers??

Cheesy

I don't think 'ripped off' is fair.
There is an element of increased margin in the lag time yes.

Bear in mind though petroleum companies only take about 8-10c in profit on the liter of petrol in Australia.

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Team Froggie Gold Member Offline Australian Politics Posts: 7406 Sydney Gender:	Re: Oil prices hitting record high - ULP up to $1.55 ! Reply #6 - Mar 24^th, 2011 at 11:02am I'll settle for "ripped off".
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Sir lastnail

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Re: Oil prices hitting record high - ULP up to $1.55 !
Reply #7 - Mar 24^th, 2011 at 11:23am

Andrei.Hicks wrote on Mar 24^th, 2011 at 11:00am:

Team Froggie wrote on Mar 24^th, 2011 at 10:56am:

Andrei.Hicks wrote on Mar 24^th, 2011 at 10:52am:

Therefore because the price of a barrel of oil goes up, it doesn't have an immediate pricing pressure on the cost of a liter of petrol.

So you are saying that we are being ripped off by the oil companies/retailers??

Cheesy

I don't think 'ripped off' is fair.
There is an element of increased margin in the lag time yes.

Bear in mind though petroleum companies only take about 8-10c in profit on the liter of petrol in Australia.

I've asked you this 100 times but may as well try again.

Who determines the retail price at the fool bowser ?? Which pricks are cashing in on the gullible motoring public ??

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Sir lastnail Gold Member Offline Australian Politics Posts: 29705 Gender:	Re: Oil prices hitting record high - ULP up to $1.55 ! Reply #8 - Mar 24^th, 2011 at 11:24am Team Froggie wrote on Mar 24^th, 2011 at 11:02am: I'll settle for "ripped off". Yep Energy Monopoly = RIPOFF !!
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Andrei.Hicks

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Re: Oil prices hitting record high - ULP up to $1.55 !
Reply #9 - Mar 24^th, 2011 at 11:29am

Sir lastnail wrote on Mar 24^th, 2011 at 11:23am:

Andrei.Hicks wrote on Mar 24^th, 2011 at 11:00am:

Team Froggie wrote on Mar 24^th, 2011 at 10:56am:

Andrei.Hicks wrote on Mar 24^th, 2011 at 10:52am:

Therefore because the price of a barrel of oil goes up, it doesn't have an immediate pricing pressure on the cost of a liter of petrol.

So you are saying that we are being ripped off by the oil companies/retailers??

Cheesy

I don't think 'ripped off' is fair.
There is an element of increased margin in the lag time yes.

Bear in mind though petroleum companies only take about 8-10c in profit on the liter of petrol in Australia.

I've asked you this 100 times but may as well try again.

Who determines the retail price at the fool bowser ?? Which pricks are cashing in on the gullible motoring public ??

I have told you this a thousand times.

The ultimate responsibility for the price at the forecourt is the forecourt owner.
He is given a recommended retail price for the petrol, he is given a specific charge per day per litre for the delivered fuel.

The forecourt owner is a franchise holder. He does not work for BP, Elf, Chevron, Texaco, Exxon etc.

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Sir lastnail

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Re: Oil prices hitting record high - ULP up to $1.55 !
Reply #10 - Mar 24^th, 2011 at 11:33am

Andrei.Hicks wrote on Mar 24^th, 2011 at 11:29am:

Sir lastnail wrote on Mar 24^th, 2011 at 11:23am:

Andrei.Hicks wrote on Mar 24^th, 2011 at 11:00am:

Team Froggie wrote on Mar 24^th, 2011 at 10:56am:

Andrei.Hicks wrote on Mar 24^th, 2011 at 10:52am:

Therefore because the price of a barrel of oil goes up, it doesn't have an immediate pricing pressure on the cost of a liter of petrol.

So you are saying that we are being ripped off by the oil companies/retailers??

Cheesy

I don't think 'ripped off' is fair.
There is an element of increased margin in the lag time yes.

Bear in mind though petroleum companies only take about 8-10c in profit on the liter of petrol in Australia.

I've asked you this 100 times but may as well try again.

Who determines the retail price at the fool bowser ?? Which pricks are cashing in on the gullible motoring public ??

I have told you this a thousand times.

The ultimate responsibility for the price at the forecourt is the forecourt owner.
He is given a recommended retail price for the petrol, he is given a specific charge per day per litre for the delivered fuel.

The forecourt owner is a franchise holder. He does not work for BP, Elf, Chevron, Texaco, Exxon etc.

LOL

Then how come they all advertise the same price at once and how come it has BP, Shell etc written all over it in big letters ?? Where is the free market ??

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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perceptions_now

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Re: Oil prices hitting record high - ULP up to $1.55 !
Reply #11 - Mar 24^th, 2011 at 11:50am

Andrei.Hicks wrote on Mar 24^th, 2011 at 11:00am:

Team Froggie wrote on Mar 24^th, 2011 at 10:56am:

Andrei.Hicks wrote on Mar 24^th, 2011 at 10:52am:

Therefore because the price of a barrel of oil goes up, it doesn't have an immediate pricing pressure on the cost of a liter of petrol.

So you are saying that we are being ripped off by the oil companies/retailers??

Cheesy

I don't think 'ripped off' is fair.
There is an element of increased margin in the lag time yes.

Bear in mind though petroleum companies only take about 8-10c in profit on the liter of petrol in Australia.

In OZ, the suggestion is there is usually a couple of weeks delay, between the Oil price movement (up or down) and the adjustment in the Price of petrol at the pump.

Given that Oil was at the current price rane a month ago & then dropped to $96 a barrel a couple of weeks back, that would suggest the pump price SHOULD ALREADY BE REFLECTING THAT LOWER OIL PRICE ALREADY & DO SO FOR THE NEXT WEEK OR TWO.

Any bets, on reality?

However, of greater interest, is considering that Oil was $147 (WTi) a barrel in July 2008, when the US OZ exchange rate was 0.96c, the pump price was around a $1.60 here.

Now, we have a barrel of Oil at around $105, the exchange rate is around 1.00-1.101 and the Petrol Price at the pump is hovering around $1.45-$1.50.

Given the then & now parameters and that the Petrol tax/excise is no different, WHY is the current Petrol Price not lower?

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Andrei.Hicks Gold Member Offline Australian Politics Posts: 23818 Carlsbad, CA Gender:	Re: Oil prices hitting record high - ULP up to $1.55 ! Reply #12 - Mar 24^th, 2011 at 12:22pm Sir lastnail wrote on Mar 24^th, 2011 at 11:33am: LOL how come it has BP, Shell etc written all over it in big letters ?? ?? You do know what a franchise is right? Hopefully not, as that would at least explain that absurd question.
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Sir lastnail

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Re: Oil prices hitting record high - ULP up to $1.55 !
Reply #13 - Mar 25^th, 2011 at 8:27am

Andrei.Hicks wrote on Mar 24^th, 2011 at 12:22pm:

Sir lastnail wrote on Mar 24^th, 2011 at 11:33am:

LOL

how come it has BP, Shell etc written all over it in big letters ?? ??

You do know what a franchise is right?
Hopefully not, as that would at least explain that absurd question.

Yes Hicks a franchise in the fossil fool industry means that you have to bend over and sell lots of lollies to make up the shortfall !! What a joke that industry is Sad

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Sir lastnail

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Re: Oil prices hitting record high - ULP up to $1.55 !
Reply #14 - Mar 25^th, 2011 at 8:28am

perceptions_now wrote on Mar 24^th, 2011 at 11:50am:

Andrei.Hicks wrote on Mar 24^th, 2011 at 11:00am:

Team Froggie wrote on Mar 24^th, 2011 at 10:56am:

Andrei.Hicks wrote on Mar 24^th, 2011 at 10:52am:

Therefore because the price of a barrel of oil goes up, it doesn't have an immediate pricing pressure on the cost of a liter of petrol.

So you are saying that we are being ripped off by the oil companies/retailers??

Cheesy

I don't think 'ripped off' is fair.
There is an element of increased margin in the lag time yes.

Bear in mind though petroleum companies only take about 8-10c in profit on the liter of petrol in Australia.

In OZ, the suggestion is there is usually a couple of weeks delay, between the Oil price movement (up or down) and the adjustment in the Price of petrol at the pump.

Given that Oil was at the current price rane a month ago & then dropped to $96 a barrel a couple of weeks back, that would suggest the pump price SHOULD ALREADY BE REFLECTING THAT LOWER OIL PRICE ALREADY & DO SO FOR THE NEXT WEEK OR TWO.

Any bets, on reality?

However, of greater interest, is considering that Oil was $147 (WTi) a barrel in July 2008, when the US OZ exchange rate was 0.96c, the pump price was around a $1.60 here.

Now, we have a barrel of Oil at around $105, the exchange rate is around 1.00-1.101 and the Petrol Price at the pump is hovering around $1.45-$1.50.

Given the then & now parameters and that the Petrol tax/excise is no different, WHY is the current Petrol Price not lower?

Yes Hicks, care to explain that anomaly ??

The dollar goes up and we still get screwed. You just can't win with these crooks Sad

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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