What Just Happened to Sydney Petrol Prices?

neosin on 06/03/2024 - 16:50
Last edited 07/03/2024 - 11:50 by 2 other users

Ok so the first thing I did was check global oil prices and they are somewhat low $78. So, what the hell is driving Sydney fuel prices today to $2.40-$2.60 for U95? It was $1.90s like a 1-2 weeks ago! Someone needs to expose this rigged oil tycoon Ponzi!

Remember when the government told you inflation was the cause of petrol at $2.40-$2.60 post covid? They kept telling us global oil prices was going up to $130 a barrel! Now they quietly increase prices, yet global oil is 40% less than what it was before! Meanwhile ACCC does nothing to protect consumers of opportunistic price gouging!

Automotive Fuel

Comments

  • Bignudge on 06/03/2024 - 16:55
    +2

    Idk, it looks pretty good at ~1.76/L here in Bankstown lol

    • BLAIL on 06/03/2024 - 16:59
      +2

      I assume you're referring to U91/E10 cause I checked PetrolSpy and couldn't find anything under $1.90 for U95/U98

        • Gdsamp on 06/03/2024 - 18:45
          +7

          E10 worse if your car is not designed for it and less efficient
          swings and roundabouts

          • Bignudge on 06/03/2024 - 18:50
            +1

            @Gdsamp: Yup! I totally agree. Mine can do E85 from factory and has got a flex fuel sensor in it. As per my OBD2 reader, it absoultely detects the ethanol content in it. I've compared the ignition timings between pulls on different fuels and the E10 seems to be alittle more advanced. Also the ethanol should in theory make the engine a tiny bit cooler with the evaporation?

            • bhubb18 on 06/03/2024 - 21:11
              +1

              @Bignudge: E10 has (slightly) lower energy density. Ethanol can also attract moisture

              Neither are really an issue, particularly if you're not leaving fuel sitting in the tank

          • ripesashimi on 07/03/2024 - 10:38

            @Gdsamp: I mean the car manual says please use E10. Yaris 2009. Printed right at the gas lid.

            • Gdsamp on 07/03/2024 - 12:14
              +1

              @ripesashimi:

              if your car is not designed for it

              • crowleysimon on 08/03/2024 - 10:24

                @Gdsamp: What does "not designed for it" even mean? Do you have an example of a car that wasn't "designed for" E10 fuel?

                • Rally Dave on 09/03/2024 - 08:39

                  @crowleysimon: There are many cars not suitable for e10. It is often due to materials used in the fuel system that will be broken down by contact with ethanol. This can relate to valves, hoses, pumps, injectors, o-rings etc. Ethanol is corrosive. Doesn't take much research or knowledge to be aware of this.

          • eddyah on 07/03/2024 - 20:33
            +1

            @Gdsamp: Never heard of it being worse 'for your car'. It's got less energy sure but it's not 'less efficient'.

            Bit's bad to put lower RON fuel into your car. Some cars are happy with E10 (higher octane) but not with 91RON. Never seen the other way around (unless you're talking really old cars that can't handle ethanol due to their seals or what not).

            • pizzip on 08/03/2024 - 10:55

              @eddyah: I'm guessing any OZ built car (Falcon/Magna) from the 2000s would not particularly like e10 as it wasn't really widespread here at that time. Anything also sold in the US market will be fine as they have had ethanol in pretty much all their fuel for decades. Japanese makes, maybe/maybe not – apparently all Toyotas made after 2006 are fine with ethanol. If you own a 1998 Supra, maybe don't use e10.

            • Rally Dave on 09/03/2024 - 08:41

              @eddyah: Obviously you do not understand what ethanol is. A little bit of research will show the issues with it and a lot of older cars will have parts of the system perish with exposure to ethanol. Most modern cars are okay with it but still not all.

              • skillet on 11/03/2024 - 20:36

                @Rally Dave: Yes especially the injectors o rings. When eaten by ethanol, they start to leak, and when the dripping fuel gets to dry grass when car is parked then ignited by hot exhaust kaboosh big fire.

    • TrustNoBody on 07/03/2024 - 07:57
      +2

      yep filled up last night $1.75 at milperra rd revesby for regular unleaded not e10

    • HeWhoKnows on 07/03/2024 - 17:39

      Cheapest U91 in Australia Id say.
      But its probably at a local Independant.
      You cant trust that fuel.
      Maybe once in a while but not very fill.

  • star-ggg on 06/03/2024 - 16:57
    +3

    quietly increase prices

    and they just told us inflation is moderating and the RBA is going to cut rates…..

    • neosin on 06/03/2024 - 17:07
      +35

      Reported inflation numbers are the biggest lie of any gov in the world atm, they are all manipulating the numbers!

      • Gdsamp on 06/03/2024 - 18:46

        AGREE !

      • HeWhoKnows on 07/03/2024 - 17:40
        +1

        yes and if the RBA believes that rubbish they will prematurely drop interest rates and send Inflation through the roof!

      • idonotknowwhy on 08/03/2024 - 11:42
        +1

        Hey what's wrong with including roofing in the CPI? Don't we all get our roofs redone regularly?

        • neosin on 08/03/2024 - 16:17

          This guy gets it!

          For anyone that doesn't get it, world govs are including sh@t you don't use much in inflation figures to "manipulate" the overall number!

          E.g adding pens, erasers, staplers etc which are all stuff you probably buy once a year!

          Then they will also confuse you with figures that remove food and energy from the figures which is literally things you use everyday!

    • eek on 07/03/2024 - 10:07
      +2

      Cut rates? Nahhh I reckon we will see at least 1 or 2 more rate increases in the next 12 months. Not enough people are broke/bankrupt or suffering enough yet. Need to dish out more pain to the chunk of middle class wage earners to ensure they are really down and out.

      • IM-Cheap on 07/03/2024 - 13:35
        +4

        We went to a acia bowl place for dessert on wed night at ~9pm, there was a line going round the corner when we got there and it was just as long when we left.

        They charge $15 per bowl and charge extra for toppings, its pretty clear from the crowd plenty of people still have money. Also that place was making bank serving up 2-3 bowls/min.

      • HeWhoKnows on 07/03/2024 - 17:41
        +1

        Agree with your observations.
        But The RBA can also hold high for longer.
        Dont expect any reductions in rates this year.
        And the best anyone can hope for is a gradual drop in the RBA rate to around 3.5% some time next year.
        So not even a 1.5% percentage point drop to bottom.

        And the property market is just humming along in most locations, which further endorses the fact these rates arent really biting much.

        • gravel on 07/03/2024 - 18:13

          "which further endorses the fact these rates arent really biting much."
          They are if your renting and the land lord is clawing back some money, or just taking advantage of the tight rental market. If your a first home owner with a huge mortgage, then you might be feeling the pain. Around 35% are suffering, the rest well - nothing to see here.
          There is a reason that the economy is tanking.

          • HeWhoKnows on 08/03/2024 - 07:33
            +7

            @gravel: Sorry but I disagree with you and so do the numbers and ALL the evidence….

            The stores are packed
            The restuarants are packed
            Coffee shops are full
            The airports are packed
            Accomodation is packed
            Plenty of people still going on expensive overseas holidays - especially Europe
            The Taylor Swift concerts are booked out as are all other overpriced attractions.
            The property market is in full swing with properties selling at record highs.
            And more importantly…Mortgagee sales are at record lows!
            Companies are reporting record profits and the stock market is also hitting new highs.
            Plenty of new iPhones and Samsung S23/24 phones being sold @ $1500-$2000 ea
            Big new apartment blocks are going up everywhere (even in regional areas)

            Are these evidence the economy is tanking?????
            Hmmm Rather laughable…LOL

            Id say all these people are more knowledgeable than YOU dear gravel.

            As for renters?
            They have no mortgage so RBA rates are irrelevent to them.
            And landlords do not control the market either.
            Its the 750,00 immigrants coming into the country over the last 12 months pushing up rents.
            (normal migrant intake is 150,000-180,000)

            I suggest you stop listening to the highly exaggerated NEWS drama shows and pay attention to whats happening around you.
            There are always people finding it hard to make ends meet and today is no different.
            It is these people that are affected by INFLATION the most.

  • Loot N Plunder on 06/03/2024 - 16:57
    +11

    Its called "Charge what the market will bear" or "like it or lump it"

    • Tommyaka on 07/03/2024 - 08:19
      +2

      Push consumers too far and they'll find an alternative product (i.e. EVs).

      • gyrex on 07/03/2024 - 09:27
        +8

        Thank you for not using an apostrophe in EVs.

        • Tommyaka on 08/03/2024 - 16:16

          I do my best… I know that grammar is a dying art.

      • HeWhoKnows on 08/03/2024 - 07:47
        -5

        EV sales are crashing everywhere.
        The novelty is waring off

        • Tommyaka on 08/03/2024 - 12:09
          +3

          EV sales boomed in February and accounted for 1 in 10 new purchases nationally. 1 in 4 new purchases in the ACT.

          It's nowhere near a majority of sales, but data shows that sales are increasing.

          https://www.mynrma.com.au/electric-vehicles/news/ev-sales-fe…

          • HeWhoKnows on 10/03/2024 - 17:43
            -1

            @Tommyaka: Check whats happening in the US.

            I think you all need to read this (Reality check)
            https://www.loopit.co/blog/rental-car-companies-breaking-up-…

            Here is a brief extract ro serve as part of the reality check on EVs but read the article to find out why…..

            "Hertz announced plans to sell around 20,000 EVs - primarily Teslas - from its U.S. fleet by the end of 2025. This came just two years after Hertz made global headlines with the announcement that it would purchase 100,000 Teslas, seemingly marking a new era for EVs.
            Rental giants like Sixt have also started replacing EVs with gas-powered cars."

        • eciuj on 08/03/2024 - 12:28
          +2

          According to who?

          https://data.aaa.asn.au/ev-index/. Numbers look pretty steady to me.

          • HeWhoKnows on 10/03/2024 - 17:47

            @eciuj: Yes. amazing when you start looking the the facts and figures instead of all the "hype"

        • Creamsoda on 08/03/2024 - 17:41
          +1

          drink more Toyota Japanese sponsored lies and slander of EVs since they can't make their own. How's your Hydrogen car of the future doing?

  • pharkurnell on 06/03/2024 - 16:58
    +3

    Someone needs to expose this rigged oil tycoon ponzi!

    What you think nobody knows about it?

  • tonzies on 06/03/2024 - 16:58

    https://www.fuelcheck.nsw.gov.au/app

    time to find a cheaper fuel station

  • MS Paint on 06/03/2024 - 16:59
    +3

    Long weekend in NSW too?

    • pharkurnell on 06/03/2024 - 17:02

      Damn… forgot the long weekend down here… and both cars are on E :'(

    • apsilon on 06/03/2024 - 17:10
      +1

      It's a long weekend? For what? I thought our next public holiday was Easter?

      • pharkurnell on 06/03/2024 - 17:10

        Labour day in Vic… not sure about others.

        • apsilon on 06/03/2024 - 17:12

          Ah, OK. NSW labour day is Oct.

        • larndis on 07/03/2024 - 07:38

          Canberra Day as well

    • kerfuffle on 06/03/2024 - 18:03

      No

  • elgrande on 06/03/2024 - 16:59
    -1

    Have you ever heard of the fuel cycle?

    • neosin on 06/03/2024 - 17:08

      I just read up about it, so how do I know when the low of the cycle is and when the high is?

      • SnoozeAndLose on 06/03/2024 - 17:14
        +1

        When some of the petrol station jack up the price it is a good indication of the lowest points of the cycle

        • Gdsamp on 06/03/2024 - 18:46
          +25

          Definitely not collusion BTW

      • megaclix on 08/03/2024 - 14:15
        +2

        The low is when ULP is at about this price, i.e. the wholesale price (bookmark it):-

        https://www.aip.com.au/pricing/terminal-gate-prices

        If you click your city, you can then get a graph of the wholesale prices over time. This will include international oil price fluctuations, exchange rate changes etc.

        Superimpose over this the now +50c retail price swing. So, a recent wholesale price of 183c + 50c retail swing (+ 12c for U95 over U91), will give you an expected top of $2.43, and a bottom of $1.83 ish.

    • Flying Ace on 06/03/2024 - 20:39
      +19

      It's so weird how people refer to this "fuel cycle" like it's a natural occurrence or a mythical phenomenon - when in reality it's just the retailers artificially inflating or deflating the cost of fuel regardless of any wholesale change in the crude oil price.

    • TilacVIP on 07/03/2024 - 08:57
      +3

      Yeah, something isolated to Australia only. Hmmmmmmm

      Farkkkkkin rort

  • Ryanek on 06/03/2024 - 17:00
    +2

    I just checked my local and u98 at Costco is a whole 50c cheaper than surrounding petrol stations. Crazy.

    • neosin on 06/03/2024 - 17:09
      +1

      a full tank that = easily $25+ difference!

  • Drakesy on 06/03/2024 - 17:00
    +6

    Welcome to what having a weak Australian dollar coupled with fuel company's corporate greed increasing the profit margins.

    • mskeggs on 06/03/2024 - 18:51
      +18

      No, no, no. OP is pretty sure it is the government, possibly somehow COVID related and quoted the USD price for oil delivered in Texas, so not sure why you’re not deferring to their expertise.
      And now they have read about the fuel price cycle, nothing will stop them.

      • GrueHunter on 07/03/2024 - 10:19
        +6

        The Boy Scouts, controlled by the Illuminati, acting through the pizza chains and Big Sorghum, are driving up fuel prices using orbital mind control lasers

        Also, everybody knows that we all put raw crude directly into our tanks from pipes out of the ground and there are no other costs and that’s why only oil prices matter also what’s a supply chain is that like the fuel cycle but I drive a car not ride a bike

        • try2bhelpful on 07/03/2024 - 10:22
          +1

          Love it. You needed to get chemtrails and 5G in there as well.

        • Chandler on 07/03/2024 - 13:05
          +1

          what’s a supply chain

          It's the chain I beat my wholesalers with!

        • ribze1 on 09/03/2024 - 22:13

          Big Sorghum - i knew it was them.

      • danyool on 08/03/2024 - 21:10

        And yet no one is blaming 7-11 squeezing the choppers. That's a pretty annoying/costly change. Even for non-chopper users who legit locked in for like 1.80 last week and now it's 2.29 - max discount cap reached.

    • tohara on 08/03/2024 - 08:59
      +1

      Fuel prices in my local area went up 27.78% overnight on Tuesday.
      There have not been swings in either oil prices or the Aussie dollar since the start of the year which would support this jump in prices at the bowsers.

  • Yummy on 06/03/2024 - 17:01

    Welcome to Sydney.

  • KangaDrew on 06/03/2024 - 17:16
    +4

    Someone needs to expose this rigged oil tycoon ponzi!

    Remember when the gov told you inflation was the cause of petrol at $2.40-2.6 post covid? They kept telling us gloabl oil prices was going up to $130 a barrel!

    So…. you just woke up from a 20 year coma, right?

    • JIMB0 on 06/03/2024 - 20:40
      -1

      People were complaining about prices 20 years ago as well. In the early 2000's they changed the price boards to display amounts over $1 and people thought it was crazy. Within 10 years they'll change them again to show prices over $10.

  • payless69 on 06/03/2024 - 17:16
    -2

    Now the ACCC is a henhouse… quick I run!

  • hasher22 on 06/03/2024 - 18:10
    +2

    I legit told my boss I'm filling up 10 minutes detour cause 91 was at $1.77

    Every station I drive past was around 2.20 for 91. Disgusting.

    • skillet on 11/03/2024 - 20:45

      Let me do some maths here.
      Let's assume that you need to pump 50L.

      That's $110 @ $2.20
      Or $88.50 @ $1.77

      Is $21.50 worth it for a 20min(10+10min) detour?

      I would do it regardless. Always pump at the cheapest station.

      • hasher22 on 11/03/2024 - 21:49

        Yes

        My car is a CX3, let's go by text book stats, 700km per tank, tank is roughly 48L (lets go with your maths at 50L easier).

        • I drive 100km in an hour, which takes roughly 6L per 100km, that's roughly 60ml per 1km.
        • 1.6km per minute, is 96ml of fuel per minute.

        In 20 minutes, I would have wasted 1.92L of fuel.

        @$1.77 per L, I would have paid roughly $3.40 for 1.92L fuel in 20 mins
        @$2.20 per L, I would have paid roughly $4.22 for 1.92L fuel in 20 mins

        But in the long run, I saved ($21.50 - $3.40) $18.10.

        Hopefully my maths is right.

        But I think $18.10 savings is worth it. That's a few grocery items for me. I am on lower than median salary in Sydney, roughly 50k, so I tend to be a cheap where I can and weight up quality vs quantity.

  • AndyC1 on 06/03/2024 - 18:15

    Bit slow, jump started last Thursday. I keep an eye out on fuel check when the tank gets to 50% for price jumps in all parts of Sydney and when it jumps in one area I go and fill up the following day and 90% of the time it has not jumped where I am.

  • freefall101 on 06/03/2024 - 18:18
    +7

    Ponzi

    I don't think that word means what you think it means.

    So, what the hell is driving Sydney fuel prices today to $2.40-$2.60 for U95?

    Red Sea terrorism and OPEC nations announcing they're going to keep production low probably triggering the current jump. It's surprising it hasn't been higher with transport costs and wages ballooining.

    It's $2.60 for a litre of a product that's pumped up from deep underground in one country, shipped around the world to another country to be refined, then shipped to Australia and delivered via truck to a station where you pump it into your car - it's only cheap due to volume and even small things can create large distortions in the price as a result.

    And I pay $4 for a cup of bean and cow juice. We live in a crazy world.

    • aussieprepper on 06/03/2024 - 20:19

      Russia has been producing over the allotted amount of oil just to stuff with prices plus the Houthi said they won't touch Russian ships.

  • djones145 on 06/03/2024 - 18:33

    188.7 at APEX PETROLEUM VILLAWOOD

    896A Woodville Rd, Villawood NSW 2163

    gogogo

    • fantombloo on 06/03/2024 - 22:30
      +2

      IME this whole area - villawood, Guildford, Granville, etc - always has some of the cheapest fuel in Sydney. It so happens I can often enough plan a pit stop there on the way through for work trips even if it's a little detour. 50c/L difference is not uncommon but it's not just the savings, it's also just paying them the respects for keeping it a bit more real

    • Drakesy on 06/03/2024 - 19:01

      What of your 4 reasons can be attributed to Albanese?

      • Gdsamp on 06/03/2024 - 19:02
        -6

        None. And yet fuel prices skyrocketing post-covid seems like low hanging fruit on cost of living that his nibs has not taken

        • Drakesy on 06/03/2024 - 19:04
          +1

          ?

        • Hackney on 07/03/2024 - 06:48
          +1

          @Gdsamp,oil prices are linked globally you numpty.Government (of any persuasion) do not influence prices. Price of oil fluctuates globally.Our low dollar also does not help.

          • Thorn69 on 07/03/2024 - 10:45
            -3

            @Hackney: the usd is slightly its unrelated, fuel prices in japan are 160ish per litre and their yen is close to our dollar, the labor government has been slowly creeping up the excise tax on petrol its on average 50cents per litre your being gouged by our loving overlords

            • jackspratt on 07/03/2024 - 13:44
              +2

              @Thorn69: The "labor government" has nothing to do with increases in excise taxes.

              They have been legislated for many years, and directly tied to the CPI.

    • KangaDrew on 06/03/2024 - 22:06
      +10

      It's probably time to turn off Sky News After Dark now. That's enough libtard bile for one day.

  • Iluvfreebies on 06/03/2024 - 19:04
    +1

    https://petrolspy.com.au/

  • KaTst3R on 06/03/2024 - 19:10

    FuelCheck before you head out to a petrol station. It is possible to get $1.98 - $2.05 for U95.

  • Mad Max on 06/03/2024 - 23:36
    +8

    Government don't care about fuel companies jacking up prices. Infact I think they are happy with that. It helps them pushing their EV agenda and it makes more money in excise. Win win for government.
    People? Who cares…

    • GrueHunter on 07/03/2024 - 10:23
      +1

      Tell us more about this mysterious agenda

      How does the government benefit

      Have you ever heard of “voters” and “elections”

    • Thorn69 on 07/03/2024 - 10:46

      look and you will find its the government jacking up the prices via excise

      • jackspratt on 07/03/2024 - 13:46
        +1

        Look, and you'll find it isn't.

        Please inform yourself.

    • jackspratt on 07/03/2024 - 13:47

      The rate of excise does not change with the price of fuel.

  • try2bhelpful on 07/03/2024 - 07:04

    And once EVs can also act as batteries for my solar panels I will be buying one.

    • Thinkscape on 07/03/2024 - 08:54
      +3

      … or wait longer until they also have 5000km of range on a single charge, can tow a mid-sized townhouse and fold like a transformer into a humanoid robot. I'll call mine Bumblepete 😂

      … or just get one now and stop paying for fuel 🤷‍♂️

      • star-ggg on 07/03/2024 - 10:21
        +1

        V2H is a proven consumer technology. It's just a matter of waiting for costs to come down with more industry adoption.

        just get one now and stop paying for fuel

        At current prices, the fuel prices are offset by the EV 'premium' purchase price. So the cost equation is purely dependent on how much the car will be used.

        • try2bhelpful on 07/03/2024 - 10:24
          +1

          Yup, we barely drive our car which is why I'm waiting for the V2H to become available. I suspect there will be a surge in purchases of EVs when this happens.

  • pegaxs on 07/03/2024 - 08:24
    +8

    It’s not a Ponzi scheme, it’s either a cartel or collusion, maybe even a monopoly in some places. One thing that petrol prices are not, is a Ponzi scheme.

    And next time some knuckle dragging Neanderthal make a comment about me purchasing an EV because I’m a tree kissing hippy nature hugging left wing Greenie, I’m just going to point to this thread and tell them once again… “My reason for buying an EV is 100% based on not being at the whim of petrol stations and their massive price fluctuations. So I never have to step foot on a fuel station forecourt ever again.”

    I have some friends that live further up the Valley from me and the price of fuel there is always over $2/litre thanks to the coal mines. Go anywhere else and the further from the mines, the cheaper fuel gets.

    • Thinkscape on 07/03/2024 - 08:51
      +1

      🤷‍♂️ tis why I got mine … charge for free or pennies, all at home. I refuse to prop up China, Saudis and other big petro states.

      • jackspratt on 07/03/2024 - 13:50
        +1

        God love a duck ….. China is a huge importer of oil.

      • Cluster on 07/03/2024 - 14:10
        +2

        You refuse to prop up China, but most EVs sold in Australia are made in China

        All BYD and MG models. Tesla 3 as well.

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