Considering that a barrel of Brent Crude oil has about halved in value over the past 12 months.
Why are we still paying insane gas prices?
MasterNoob on 09/05/2015 - 07:59
Comments
Pure greed, but mainly because of lack of competition.
All of the majors know how to play ball and have learnt not to cut each others throats. I've worked for most of them. There really isn't any independent wholesalers anymore big enough to keep them honest.
Probably is millions to be made in the short term - if you got a mid-eight figure bank account and want to bring a ship over - and can literally store a ship load of it. Very strict finance terms in the industry. Not years, but hours! I think I still got the contact numbers in Singapore to make it happen. lol
I noticed you live on the Gold Coast, earlier this week the new United servo at the bottom of Frank St/GC Highway Labrador were selling all their fuels at around 12c less than most others. Worth checking out if you're passing that way.
What does crude oil have to do with LPG or natural gas?
I asked this question a few months ago on Yahoo Answers if you are interested:
https://au.answers.yahoo.com/question/index?qid=201503221415…
They seem to say its because crude oil is sold in USD , but even when I calculated for the AUD/USD exchange rate difference there was still maybe 20-30% unaccounted for so djones145 is probably right.
Can anybody else think of any other consumer product has has the crazy price cycle that we see with petrol?
I appreciate the price of oil changes everyday but surely lots of commodities change price on a daily basis and we don't see this crazy weekly game of roulette with meat, flour, wool or anything else.
The whole thing is insane.Maybe because of the sheer volume sold each day. The value would probably be more than all those combined.
Well what else are you going to do, walk? ;)
The tax on petrol is somewhat a great percentage of the price we pay, but actually the refining processes usually have fixed costs associated to it, hence why the price for petrol haven't really been driven down significantly.
are u American so when you say gas u mean petrol?
or are u asking why natural gas is insane prices (which is not and has nothing to do with crude oil prices)
tax, AUD falling, greed
mainly the last one