Oil Down To $35 per Barrel

[redranga]

The servo's are just as bad as the fuel companies. Half of them put the price of Diesel up as well to the same price as petrol, yet the other half didnt. Just another example of the consumer getting ripped off.

[wodahs]

Originally Posted by police

The servo's are just as bad as the fuel companies. Half of them put the price of Diesel up as well to the same price as petrol, yet the other half didnt. Just another example of the consumer getting ripped off.

or blending products for profit

[jphanna]

In South Australia, when we hit 1.60 a litre last year, there was a poll taken at the height of the world 'hysteria' (remember this was just before the Global Economic Crisis). The poll asked...

'what price would it have to reach before you changed your driving habits?'

Guess what the result was?.......$2.20 a litre.

armed with this knowledge, the oil companies know they can milk us for all its worth.

[Mr Hardware]

You're right jphanna, but this sort of poll has been taken before and it's always roughly half a time again of what the high price is - ie it was about $1.50 a litre was the general 'i'll stop driving' point when petrol first hit a dollar a litre in ~2004.
It's a mythical figure. People won't stop driving. To them it's like water. Even if it's $5 a litre people will still do it. Nothing can stop them!

[Buddy 1]

Originally Posted by Mr Hardware

Wait on TS50, i didn't think selling fuel was a public service. I thought it was a privately owned enterpise designed to make money.
When Ford makes a profit do you get angry with them too?

If Ford was Ripping its Customers off Big Time we would!

Have read all your Comments in this Thread & all I can come up with is that you must own a Servo or be involved in some way with the sale of Fuel as you are so Biased in favour of the Oil Companies that you cannot see the Truth.

And when it is Pointed out to you in Facts, you then say Oh well Maybe so however I would not like to Live on Wages from 10 years ago :
Which has Nothing to do with the Original Point & is just your way of still being right (in your own mind) even when your wrong.

Oil Companies Do Make Huge Profits, Do raise the Price of Fuel for no Valid Reason at the time, Dont have any Regard for Consumers or Goverment Agencies, And Do Rip off People!

We can all bring up Examples of Dollar Values, Oil Prices & Pump Prices at any Given time to show a Point however the Point is this has been shown to you & you have then changed the nature of the Argument instead of discrediting the Information with FACTS!

[Mr Hardware]

Woah, wait on there mate. Nice of you to join the conversation, now put your fists down and we'll discuss this like gentlemen.

1. I do not and have never owned a servo, worked in a servo, or am any way involved with the sale of fuel. The closest thing i have ever gotten to that is buying a tank of fuel.
2. In the opening of the thread, i stated the facts. When others tried to do comparisons from many years ago i tried to show them how long ago that was, chiefly by discussing wages as a pure point that everone can understand and recall.
3. I have stated all the facts there is to state! Oil Price in US$ times by the australian dollar value divide the number of litres of petrol expected per barrel plus overheads of approx 55c/ltr = price of 1L of petrol. If you can't see that, you're a fool.

Changed my argument? Nope. Just because I haven't gone over the facts over and over again like some people want to say we're being ripped off over and over again doesn't mean I'm wrong, it means i'm confident that I'm right and I don't need to keep shouting it.

But hey, don't take my word for it. The Current issue of WHEELS magazine has an article on this. Read it for yourself, but it says almost exactly what i've been saying in this thread and have been saying for years. Here's an excerpt:
"...sent petrol-price conspiracy theorists into overdrive with a new take on 'oil firms are ripping us off. They're all wrong." Wheels Magazine Feb 2009 PP32-33.

Check it out for yourself. Don't believe some guy on the forums who actually does the maths instead of going 'we're getting ripped off.'

BHP makes a killing. Woolworths makes a killing. Ford makes a killing. Why shouldn't BP? Are they excluded just because you'd like to save $3.27 a week?

We can all bring up Examples of Dollar Values, Oil Prices & Pump Prices at any Given time to show a Point

Lets work out a few examples in the past few years, and if you're smart enough to work out a formula for yourself you'll see that all is fair on the price of petrol front.

If you notice, i don't use petrol, i use LPG. I hate petrol. I hate that the price when high can erode my budget so terribly. I didn't whinge. I didn't complain. I didn't do nothing except get angry at the servo attendant. I changed to a fuel that allows me to continue motoring and still have that extra $100 at the end of the month for me, instead of having nothing and being bitter about it.
Be bitter about your own lethargy if you don't like the price of petrol.

And don't use the 'if ford was ripping me off i would be angry too' argument.
Say the world starts running out of steel or whatever major material is in cars and the price of steel per tonne quadruples. Therefore the price of a falcon would have to go up by a certain amount too. Fortunately, falcons are not made of 90% steel, there are plastics, fabrics, rubbers, other alloys etc that make up the whole car, so any blow to the price is lessened by the spread of the cost. Any good investor knows that you lessen your risk if you spread it across different areas, and conversely if you keep your investment in pretty much a single area (LIKE PETROL WITH OIL) you will endure a choppy sea of highs and lows. This, my friends, is what happens with Oil, and consequently with the price of petrol. It's just unfortunate that it means that a price rise for the commodity of oil means high petrol prices for consumers.

I bet when your superannuation is doing well you don't think that it's probably invested in companies like Woodside Petroleum, BP, Caltex, Exxon Mobil, whoever, and because you are paying a high price for petrol they, with their standard multipliers, are making good money off the sale, which in turn enhances their profits and makes for a good share price which makes for a good amount of super for you. But no, you narrow-minded people just think 'the oil companies are ripping us off'.

But i think i've gone a bit too far with edumactional and intellectumal stuff for the pub. I'll just let you all think that you're being had by the oil companies cos that justifies your inaction and keeps you where you are in life.

[Bent8]

Originally Posted by Mr Hardware

BHP makes a killing. Woolworths makes a killing. Ford makes a killing. Why shouldn't BP? Are they excluded just because you'd like to save $3.27 a week?

And don't use the 'if ford was ripping me off i would be angry too' argument.
Say the world starts running out of steel or whatever major material is in cars and the price of steel per tonne quadruples. Therefore the price of a falcon would have to go up by a certain amount too. Fortunately, falcons are not made of 90% steel, there are plastics, fabrics, rubbers, other alloys etc that make up the whole car, so any blow to the price is lessened by the spread of the cost. Any good investor knows that you lessen your risk if you spread it across different areas, and conversely if you keep your investment in pretty much a single area (LIKE PETROL WITH OIL) you will endure a choppy sea of highs and lows. This, my friends, is what happens with Oil, and consequently with the price of petrol. It's just unfortunate that it means that a price rise for the commodity of oil means high petrol prices for consumers.

I bet when your superannuation is doing well you don't think that it's probably invested in companies like Woodside Petroleum, BP, Caltex, Exxon Mobil, whoever, and because you are paying a high price for petrol they, with their standard multipliers, are making good money off the sale, which in turn enhances their profits and makes for a good share price which makes for a good amount of super for you. But no, you narrow-minded people just think 'the oil companies are ripping us off'.

But i think i've gone a bit too far with edumactional and intellectumal stuff for the pub. I'll just let you all think that you're being had by the oil companies cos that justifies your inaction and keeps you where you are in life.

You make some good points...

Sure every one want's to make a good profit but the difference between FoMoCo and BP is that the latter sells petrol which (like you stated) is an essential part of most people's lives.

This is the very reason the oil companies are still making HUGE profits while the car companies are in the toilet financially.

I will disagree with you and say that the oil companies are profiteering to the extreme here, the only reason it has become so blatant recently is because they know the global economy is about to completely collapse so they're milking us for all we're worth while we still have money in our pockets that has some value on the stock market!

What's occuring right now is a MASSIVE transfer of wealth.

[500SEC]

ULP is between 1.25 and 1.30 in canberra / yass region. Problem here is that Woolworths and Coles seem to have the whole market sewn up because their grocery shoppers chase the 4c off per litre. Having spent many years overseas, it staggers me that Woolworths seem to have a hold on food prices, and now it would seem, petrol prices. I understand that this company was investigated by the competition commission, but their finding was that Woolworths were not breaching any competition standards.

When I returned to Oz in October 07, prices were around $1.30, with a much higher world crude price (it was certainly higher than today's $35-40 price).

While I'm at it, anybody who has spent time in either the US or UK will know the greater competition that exists among supermarkets and the choice food choices available to shoppers in those countries. It amazes me that Australian conusmers / government has allowed Woolworths to continue along this path. Rant over !

[Mr Hardware]

When I returned to Oz in October 07, prices were around $1.30, with a much higher world crude price (it was certainly higher than today's $35-40 price).

Absolutely. And with an aussie dollar at around US$.90c not US$.65c.