https://www.afr.com/politics/federal/oil-prices-surge-as-wor…
Looks like petrol prices ain't coming down and
Aus retailers just need excuse to increase prices
Oil Prices Surge as World on Edge over Ukraine
life is suffering on 14/02/2022 - 15:56
Last edited 14/02/2022 - 17:00 by 1 other user
Last edited 14/02/2022 - 17:00 by 1 other user
Comments
For real bought a couple today .
A nice Hot Wheels and Matchbox one .
Will do Boss. Enjoying my sub 4s 0-100km/h and $1.80/100km fuel cost 💵
I read Tesla's are sub 4s 0-100km/h. They might also beat that price per km on fuel
Yeah I'm talking about Tesla's. I have a Model 3 LR with Acceleration Boost, 3.9s 0-100. I do mainly highway driving and use about 15kWh/100km. My offpeak electricity tariff is 12c/kWh.
15x.12=$1.80/100km.
If you do city driving you'll probably use around 13kWh/100km due to regen braking.
A person I know who lives in that part of the world says that the world edges over greedy snakes wrapping around a bear.
"The world edges over greedy snake wrapping around a bear"… lol. You really need to get some friends with sayings that make some sense.
Despite ever increasing inflation and petrol prices as well as an uncertain future in regards to how the COVID pandemic will further play out, and with Russia on the brink of war with Ukraine and potentially NATO I think we should all take a second to realise how lucky we are to be in a country free of war.
It was only a couple of weeks ago that I watched videos about how Ukrainians were taking up arms to defend their country, whilst it seemed like a distant possibility the current situation is more precarious than ever. It’s one thing to hold a gun and say you’ll die for your country in front of a camera but when the bullets and missiles start flying it’s a whole different matter.
I’m gonna need a lot of popcorn to see how the rest of this year plays out.
In 1990, housing interest rates were heading towards 20%. Personally, I hope we never revisit those days again as they were cruel!
The RBA cash rate was likewise extremely high… I was out of the country but how people survived in Australia is beyond me….for starters we wernt spending 1-2k on new phones every year or so
Yes, smart phones are the one and only thing that is causing the young generation to not be able to afford housing. Smart phones and their avo toasts. They really better start pulling themselves up by their boot straps huh?
blaming smart phones is some boomer shit - me rite nao on a $200 tcl jb special
i remember the age before china took over and you were spending $1k on a microwave or a vcr
and it was luxury to have a 68cm tv
$2,5k for my first pc
Avo toast and a drink everyday - is what $6k a year
So 5 years - is 30K -
So yeah it really is…. add in the fact most young ones get the latest smartphone….
Or lattes and smashed avo.
That's an individual choice. People don't have to. Only weak people fall for marketing.
People used to spend insane amounts of money on other things in the early 1990s. A decent computer started at $2000 (about $4500 inflation adjusted). If you wanted a laptop you were looking at a minimum of $4k, for a basic one. Imagine spending $9k on a computer today.
As for $1k to $2k mobile phones, yeah, some people buy them. Most don't. My last phone was $600 new. 5G. 3 cameras. Loads of memory and really fast. I'll keep it for two years.
Oh, and mobile phone calls cost 50c for 30 seconds. Imagine paying around $2.25 per minute of talk time today.
Does anyone pay per 30s anymore?
@BartholemewH: long life yearly plans like $40 vodafone
people dont even remember a pre china world but australia had insane costs of living due to the fact everything made here was made with australian labour and you felt it
if you made $200 a week pre tax but everything was a couple of bucks then it added up
of course food was always cheap but we're talking consumer items or durables
people complain about how made in china shit is a few bucks but it doesnt last, yeah thats not an issue if you made $1k a week
i still remember how expensive clothes were here because it used to be all made locally
now $2 shirts from kmart
I think you got that straight from Chris Kenny’s talking points
People have been upgrading their phones every year or two since before recorded history.
Back then houses used to cost about 10% of what they do now
thanks to high interest rates :)
why would you invest in housing if you can earn more money (risk free) from putting your money in the bank?i can tell you right now that a house i lived in back in 1990 was $125k
its $2,5 mil now
but where's the wage growth
@tonyjzx: yeah wages haven't quite kept up :(
with improvements in technology, shouldn't we be earning MORE than we ever have?@Mr Haj: further you will see how the govt. needs to import migrant workers and pacific islanders and backpackers and 457s etc
and see how hard they hit nurses teachers with sub cpi wage rises
they want people to pay heaps for rent so they are hungry for whatever work is out there
Because what you earn from the interest is still below the real inflation. If you had $125k in the bank in 1990, it would not grow to $2.5mil today, even with compounding interest.
@leiiv: Yes because the interest rates have dropped significantly… When interest rates were at 15% there was greater incentive to have your money sitting in the bank than having an investment property.
Wasn't the average yearly income around $25k too?
Perhaps but the average income is not 10x higher now yet house prices are
@qvinto: There's more nuance than that, not 10x worth but close. Back then there was a higher rate of single income families, much higher interest rates and the relative cost of living was greater. they were 30 year loans then and nothing has changed today, it just seems the valuations are adjusted to account for 30y repayments.
How about the fact that you could earn 15% on your savings and the cost of a house in Sydney was only $180,000. You're only sharing one side of the story…
And 15% mortgage interest?? Both sides mate, both sides.
$180k @ 15% = 27k
$1.36m (average) @ 2.5% = 34k@FrugalDealHunter: 27k would have been brutal in 1990 though with a much lower income. but yeah people would have been able to save up and buy houses either outright or have much lower loan to value ratios…
AEKaBeer that's my point? lol
@Mr Haj: My point was that it was hard then and it's hard now. It was harder to pay a loan back then, you would need ~$50k income and zero expenses to pay that $27k example when the average income was sub $30k. Today it's harder to save for the deposit and get the loan but easier to make the repayments once you do.
We are talking about home loans here, not investments right?
@AEKaBeer: Well if you're only talking about home loans then that's only one side of the story… Loans AND investments consider BOTH sides
Awesome news!
A defacto carbon tax, so people start to pay the real economic cost of a good
The feds should slap a kms tax on EVs while they are at it.
They should actually, and then take the states to court to rescind their RUC. The states were never going to lose income from loss of fuel excise because they never collected excise in the first place - only Feds can levy excise.
Good RUC with that!
Sorry couldn't help myself :)
Hell yeah.
Let's stop all fossil fuels tomorrow.
Then we can all die within 2 years
I fully agree with this. The problem with fuel is you don't have to purchase it off the environment so there's no limit to how cheap it can be.
Just be glad we can buy it at any price. Our supply chain for fuel is not particularly robust and we don’t have stockpiles here in the land of OZ.
And if our fuel dependant transport system starts to be limited….. we all went through a little supply chain wobbly a month or so ago, put a fuel rationing scenario on that and we will look back fondly at bog paper brawls.Of course Angus SFB has it under control, leasing storage in another hemisphere for fuel reserves - with the same or worse supply chain issues and in a country that will happily embargo fuel leaving their country at a time of armed conflict.
According to this, Australia only has "81 days’ worth of oil supplies, including 25 days of stocks in overseas ports and in transit to Australia." This is expected to increase to 90 days by 2026.
We think our supply chain issues are bad right now, wait till you see what happens when our fuel supply is disrupted.
Don't worry.
Australia has plenty of coal. Fire up the coal plants and drive with that.
All the anti-EV rhetoric is looking a bit short sighted now. Nothing patriotic about being dependant on foreign oil sourced from regimes hostile to us.
We should be buying Australian energy to power our cars, let's keep our money and our jobs in the country.
@ATangk: What a silly contradiction the Libs have, pro coal but anti-EV. Mass adoption of EV's could prolong the life of coal fired power, duh.
@tonyjzx: Bad energy policy only goes so far, the major NSW coal plants have had their closure dates repeatedly brought forward because of the disruptive economics of renewables.
They could keep their precious coal generators spinning for a bit longer with overnight charging demand from lots of EV's.
Looks like petrol prices ain't coming down and
Seeing the growing number of brand new vehicles with very large engines AND countless drivers leaving the engine running in idle whilst parked (you know, air con is a fundamental human right …) fuel is ridiculously cheap and abundant.
Keep burning baby, keep burning !!!
/sarcasm off
Burning 🔥 🕯 🔥 🕯
Don't we extract oil for diesel here in AUS?
ASX - HZN
Horizon OilWe also only have two refineries left in the country, propped up by tax payer dollars to ensure some level of "fuel security"
Yes, budget for that is $au2.3b!! Roughly $100 for every man, woman, child in OZ.
We import 90% of the oil we use every day, and most refineries have been shut down or turned into import terminals.
Even if we were oil self sufficient, it wouldn't lower the price. Imagine you could export a barrel of oil and get US$94, or sell it locally for a discount. Which would you logically do?
its already well proven
we have the cheapest gas in the world
but we sell it cheaper to other countries than we sell to aus consumers
because you know, f' australians
Same as the farmers offloading their best overseas
That's why I didn't fking shed a tear when they complained of the CCP block. Very strange to have to sell their Ferrari in these hard time or crying to Canberra to bail them out! WTF! They supposed to save for rainy days so if CCP block then either use this rainy days fund or look for new market.
The West are in breach of UN Charter Rules in they egging on this "fictional" conflict.
those fictional dead ukrainian civilians though
Not a fan of Biden usually but his "what a stupid question" comments recently were so needed. Western media has a hard on for war mongering, sadly.
It's a "plan for the worst and hope for the best" scenario from the NATO POV.
This aged great.
The US/NATO always need a ‘war’ to keep the war machine going. How many trillion spent in Afghanistan to then just walk away?
wasnt russian in afghanistan before the us?
Yeah, then the US backed the Mujahideen to have a proxy war against the soviets. It’s quite a read.
At least they (Soviet) got their Vietnam in Afghanistan.
It's one of the main reasons for the end of the USSR, along with Chernobyl and other factors such as people becoming aware of the Gulags, populations 'balkanising' (although that word came to be after the end of the USSR) and people wanting more economic freedom. There was no real popular desire for the USSR to remain together after Afghanistan and as soon as people in the Soviet satellite states started protesting for freedom - they didn't send in the tanks to crush the protests (as they had always done in the past) and the USSR dissolved practically overnight.
Afghanistan is known as The Graveyard of Empires: https://en.wikipedia.org/wiki/Graveyard_of_empires
It could be argued that U.S. hegemony has all but lost it's will to fight in the wake of Afghanistan. Also U.S. economic strength relative to other nations now compared to 2001 is not healthy. U.S.A put the bill on credit, and when it's due Afghanistan will claim another hegemonic empire.
I think it could be argued that all across Western Democracies we are seeing a similar progression of failures and fractures in our populations that the USSR faced before it fell. People want more freedom, we are pissed about wars we were lied about, we don't want people we disagree with going to Gulags and our economic markets are all failing - only being held up by money that doesn't exist that we are making future generations pay for through debt.
Russia is the one threatening war. NATO has made it very clear that any consequences Russia may face are dependent on them invading. US/NATO clearly does not want war with a nuclear power…
Really nobody wants a nuclear war !
My comment was about the US/NATO war machine. They need an ‘enemy’ to keep the dollar’s flowing in their war industry. A trillion $ on military? Sure no worries (from both sides). Universal health care at neutral budget cost? No, thats Communism!
We know the chaos caused by the iraq war - which simply continued the ‘scary enemy’ narrative
Its too late to get on the industrial military complex.
You know that in our own backyard we have a $3.5 bn tank deal + $170 bn submarine deal and whaetver the hell the F35 costs.
ALso I would question anyone who is ultimately boiling down the invasion of a sovereign country and literally dead ukrainians as a "US/NATO" issue.
I'm sure that's what concerns ukrainians right now lol!
Yes indeed, life is suffering. But don’t worry, it’s not permanent. It will end someday. And…. the silly war of Russia vs Ukraine(inc. Western allies) will end someday as well.
Big no.1 question
Who will most benefit from this war?A. My grandma
B. Russia
C. Somalia
D. ScoMo
E. US of APeace :-)
E - US will have more customers buying wares from them in the form of military hardware, oil/gas, and influence. The aftermatch of the mess cause is not their concern since they are on the other side of the world.
A; 100%
pelmeni sales to sky rocket!D
nothing beats a war to whip up people up
Never been a better time to own an electric car!
Sure and pay more in depreciation costs than the fuel extra costs :)
because we all know ICE cars of a similar price dont depreciate!
If fuel prices keep rising, that electric car depreciation might change
Just 2 days ago, the wait time for a Tesla Model 3 went up to 5-7 months. When I ordered mine last year it was only 4-6 weeks. People are starting to wake up.
Not sure what people are supposedly waking up to, aside from a taxpayer funded rebate on EVs.
Lol. You can keep your 4% rebate. Rebate or not, people are buying EVs.
Whoever said cash rate will top +6% I believe they are living in Mars, please land on earth and understand the reality. Most state government coffer runs on stamp duty and moreover if the cash rate increase to +6% , I think my rough calculation majority at least 30 to 40% of Aussie will go broke or most will increase their rental to somewhat adjust their repayment. The last option will be going broke. So don't overthink or dream too much RBA may raise interest rate maximum of 2 to 2.5% beyond that it is not affordable for the economy. So stop squealing like a stuck pig and start saving to have your own roof.
If you read newspaper articles and believe it then you are wasting time. They write articles to cover the space but the reality is different.
I think my rough calculation majority at least 30 to 40% of Aussie will go broke
Show your calculation.
So don't overthink or dream too much RBA may raise interest rate maximum of 2 to 2.5% beyond that it is not affordable for the economy
You are talking about lifestyle inflation. Part time job while at uni you have a cheap lifestyle to fit. The more money you make the more commitments you make to end up living pay check to pay check.
Interest rates have been low for a long time, a lot of people have got used to low repayments.
how are the uber eats/menulog/doordash drivers etc coping? petrols gone up heaps i wonder if this is worthwhile for them to be doing?
Use an e-bike. It'll keep them fit and it's better for the ♻️.
Pity cypto is in the dumps. Otherwise you would tell them to buy crypto and take a helicopter.
I ❤️ damps. Buy cheap from 🥬 🙌 and wait for FOMO.
Actually a lot of them drive hybrids and small cars. Although I have seen a BMW X5 and a Porsche SUV "courier"
Also if you do less than 5,000kms a year you get the standard rate which is like 72c per kilometer. $3600 for 5,000 kilometers. Pays for rego, insurance, service and fuel if you are driving a Toyota hybrid.
The only factor is OPEC and how much extra money each king/dictator wants.
Low oil prices have been costing Russia billions.
So maybe this whole Ukraine thing was just Putin's strategy to drive the price of oil up.
I hate Amazon too but their delivery is ridiculously good. I ordered one of those Amazon fire sticks one night - like 9pm - and the thing was at my doorstep the next morning. WTF.
As much as I hate Amazon I find their delivery hard to resist.