Petrol Prices UK v Australia

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Following the price of Oil recently, and the price of Petrol locally in Australia, I have wondered why Petrol hasn’t risen faster in price.

I probably seem odd to many people, as petrol has been rising, and no-one likes it going up.

However… It could be much WORSE.

We have a very strong Dollar in Australia, and this is shielding us from a much higher petrol price.

Compare a similar graph of the UK petrol price to the Australian petrol price from Jan 2009 to Jan 2011.

Petrol Prices UK and Australia 2009 to 2011

 

The graph is to the same scale !!!

Consider what the Australian price would be if we had copied the UK price growth…

Consider what the Australian price WILL BE, when the Australian dollar returns to a more normal rate !!!

The UK Petrol price went from 90 to 132, a 47% increase

The Australian petrol price went from 109 to 136 a 25% increase

If the Australian price went up by the same rate as the UK, it would have been 109 +47% = 159 cents per litre.



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When motoring is your business the high price of fuel really hits home. We have customers with fleets of 20 to 1300 vehicles – surely prices have to come down soon

Whoever wrote this crap is a dumbass. Australia is getting shafted by these fuel prices. If the Aussie dollar did drop crude oil would also very likely drop. If we compare the price of fuel now to what it was a few years ago when crude oil was $140 USD a barrel, the Aussie dollar was around 95 US cents, which mean crude oil would have cost around $146 Aussie dollars. Now crude oil is around $96 USD per barrel and the Aussie dollar is around $1.05 USD, so crude oil would cost around $92 Aussie dollars per barrel. That is 60% less than it was when crude oil was $140 per barrel (Fuel companies were reporting record earnings at this time too mind you), yet we are paying the same at the pump, if not more. From what I can work out we should be paying around 95 cents per litre for fuel. SO WE ARE GETTING SHAFTED. If anyone has an explanation and can prove me wrong I’d love to hear it coz I’m gettin real pissed off with fuel prices, and you should be too.

we get our oil from singapore ( TAPIS ) which has nothing in common with US pricing ( WTI ) nobody pays what WTI is listed at anymore, but those in charge of the worlds reserve currency can sought of do what they like, dumbass