Petrol headed for $1 a litre

[Ralliart]

Originally Posted by The Age

Petrol prices have fallen significantly for the second time in a fortnight, reaching a 12-month low.
The national average price of unleaded petrol is now $1.33 a litre, the Australian Institute of Petroleum says.
That's a drop of 6.7 cents in the past week.
CommSec chief equities economist Craig James has suggested the price could fall to a dollar a litre.
"Just a month ago, thoughts of petrol at $1 a litre would have been pure fantasy. But no longer," Mr James said in a weekly market briefing.
He also pointed out the apparent weakness of Western Australia's FuelWatch scheme, which the federal government wants to roll out nationally.
"The Sydney petrol price stood at $1.31 in the latest week, the second straight week it has been below the Perth price ($1.33 last week) despite the price monitoring scheme in place in Perth."
The Senate could vote on the government's plan to introduce FuelWatch nationally as early as tonight, but is likely to reject the scheme.
Mr James' rosy outlook may change if the oil cartel, Organisation for Petroleum Exporting Countries (OPEC), goes ahead with a second production cut before Christmas.
World oil prices rose higher in Asian trade today after OPEC failed to rule out another cut following on from its November slow down.
At an emergency meeting in Vienna last month, the cartel agreed to reduce output by 1.5 million barrels a day to 27.3 million bpd in a bid to prevent prices falling further.
The main contract in New York, light sweet crude for December delivery, jumped $US2.52 ($3.68) to $US63.56 ($92.90) a barrel this afternoon.

Just read this just now , It gr8 news if this actually did happen, i'm not going hold my breath on this through , i debt it will ever go back to $1/l again , by the time it tries to be @ the prince, something will make it go up again


I DON'T KNOW IF this is posted yet / if it is Delete/Close It.

[MITCHAY]

Keep dreaming buddy. I'm over giving a crap about petrol prices :

[Ralliart]

Originally Posted by MITCHAY

Keep dreaming buddy. I'm over giving a crap about petrol prices :

yeah mate i know, tell that to the media : :

[DJM83]

Fuel prices, : are they. Owning a V8, fuel economy doesnt really matter.

[gemibabe]

funny how some stations were selling fuel at 1.27 today...in Perth with fuel watch !!!

Will be interesting to see how low prices fall... but then how quickly they'll jump too once the economy is strong!!

fuelwatch.wa.gov.au -----some selling it at 1.23... hell of alot lower than Sydney hey!!

[Windsor220]

Does every one remember a couple of years ago when they said fuel was going to be $2 a litre by that christmas? Nobody can guess the price.

[samsy351]

Just saw it at $1.16 in western sydney !

[Ralliart]

Originally Posted by Torxteer

Does every one remember a couple of years ago when they said fuel was going to be $2 a litre by that christmas? Nobody can guess the price.

yes i remember then they said within 10 yrs it will $5/L

[GUTLES]

mrs put $50 in the XR8 today, DTE shows 400km. Normally get 300km for $50. Would be a great day if it drops to under $1 again, can't see it happening tho..

[S3SR]

if it drops to $1 p/L im buying some 44gallon drums...... or flogging from the farm, either way im stocking up

the 2stroke line trimmer runs on 2yr old fuel, so can the falcon :P

[Darkr]

I forgot fuel costs varying amounts of money, I don't even look anymore.

It's so cheap atm though!

[fordel]

$1.18 here in Adelaide tonight.

[bangm001]

yep paid 130.9 for Mobil 8000!! Woo Hoo! I saved $20 just this fortnight alone!

[Keepleft]

Originally Posted by Torxteer

Does every one remember a couple of years ago when they said fuel was going to be $2 a litre by that christmas? Nobody can guess the price.

The drop has also to do with reduced demand, and futures traders running away. OPEC were hoping their last move to restrict output would sustain income owing a worsening world economy, not been so lucky:-)

No doubt, it will reach $2 though. Perhaps after/when the economic crisis starts to really hit; mid 2009-2010.

Enjoy the fuel cost relief now, and those to get Bonus payments would do well to take the 'window' issued, - to knock off consumer debt (cards et al).

[Antwon]

yeah i recently filled up at $1.23 i think? and i heard it got down to $.19 since then

[Chamelion]

117.9 in Maroochydore today. I think I'll fill up the boat tanks too.

[bangm001]

Originally Posted by Chamelion

117.9 in Maroochydore today. I think I'll fill up the boat tanks too.

Haha! yeah I went back to the servo 3 times sunday night, my car, then my old ladies, then my old mans plus the boat tanks, plus a jerry can!! Haha! Even the boat got premium fuel this time! :

[Rob's 76 Effy]

1.14pl at Blacktown but that was E10 with 4c fuel dockets

[EFPWR]

$1.19 for E10 in sunbury, vic.. $1.23 for regular unleaded..

Considering getting some 44 gallon drums here too.. doubt itll stay down low for too long..

[GTENVY]

Still $1.71 for normal BP premium up here in Karratha. Fuel prices suck in the Pilbara :

[GORDZ]

I'm saving $18 a day! zero litres per 100 k's...

really though, had enough of fuel prices. try stuffing ur engine... will save u a bucket in fuel. the week i'm on public transport will make the difference if for the next month fuel is $2 a litre. really though, the media were boring enough before fuel went up

[Becker_11]

Originally Posted by 51RTE

Fuel prices, : are they. Owning a V8, fuel economy doesnt really matter.

Really? A mate and fellow forum member has a blown boss xr8 ute and is regularly getting 550kms from a tank ... city driving so nothing to lively (cops, other cars around)

[chevypower]

People thought it would never go back under $3 a gallon in the US. Now it's $2.27 here, and $1.70 in Texas. Anything can happen. 80c/litre in Australia. $3 a litre in Australia.

[Rodp]

Originally Posted by Becker_11

Really? A mate and fellow forum member has a blown boss xr8 ute and is regularly getting 550kms from a tank ... city driving so nothing to lively (cops, other cars around)

Does the ute have a bigger tank?

My BA XR8 would only get more than 400km per tank if I did a lot of highway driving. If it was mainly city, I'd never get 400.

[merlin]

Damn I have been enjoying the lighter traffic on the roads, as people have been moving to public transport due to fuel prices. This is just going to lead to a whole lot of congestion in Sydney again...

[SB076]

What happens to Holdens $0.99 per litre campaign if fuel drops below $0.99? Could have been a smart move by Holden, they would have picked up a few sales based on the $0.99 campaign and it might not cost them anything (apart from the advertising)

[matsbfxr6]

$1.11 at the shell on lane cove road macquarie park this morning...

[Auslandau]

Originally Posted by SB076

What happens to Holdens $0.99 per litre campaign if fuel drops below $0.99? Could have been a smart move by Holden, they would have picked up a few sales based on the $0.99 campaign and it might not cost them anything (apart from the advertising)

If it drops to .95 you have to pay Holden .04 cents when you fill up



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[TadKa]

Originally Posted by SB076

What happens to Holdens $0.99 per litre campaign if fuel drops below $0.99? Could have been a smart move by Holden, they would have picked up a few sales based on the $0.99 campaign and it might not cost them anything (apart from the advertising)

Haha thats funny. All those muppets thinking they were getting a great deal possibly saving a grand or two instead of bargaining a grand or two of a better car.

[eb91xr6]

110.9 today, filled the falcon and the boat and 6 jerrys for over chrissy but now watch it go to under a $1 and ill be kicking my self but 110 aint bad