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

  • smartazz104 on 07/03/2024 - 08:37
    +2

    Greed.

    • TilacVIP on 07/03/2024 - 08:58
      +2

      More like legal theft

  • THICKnSLOW on 07/03/2024 - 09:02
    +2

    I heard Extinction Rebellion next move is to burn down the cheap petrol stations because they are brilliant minds

    /sarcasm

    • try2bhelpful on 07/03/2024 - 10:11

      All they need to do is tell the mob nutjobs that someone is selling chop chop from them. They will burn them down for them.

  • techno2000 on 07/03/2024 - 09:07

    Melbourne U91 price jumping to $2.319

  • mrvaluepack on 07/03/2024 - 09:11

    https://www.accc.gov.au/consumers/petrol-and-fuel/petrol-pri…

    I use this website to monitor cycles.

  • Dreamcast on 07/03/2024 - 09:15
    +1

    Yep, it's ridiculous. Early last week I walked by my local servo on the way home. 98 was $2.13. I said I'd fill both my cars up. I got lazy and said I would do it the next day. Straight up to $2.53 :/

  • eek on 07/03/2024 - 10:08

    Haven't seen anything under $2 for 98 in Brisbane for a few years??

  • gromit on 07/03/2024 - 10:26
    +2

    Realistically the price of oil is a relatively small part of overall cost of fuel prices. e.g. at $100USD a barrel the actual cost is only about 60 US cents a litre. so if oil drops to $50 a barrel you would only see at most 30 cents a litre discount and likewise a rise to $150 a barrel would only add 30 cents. all the costs are in tax, production, storage and shipping (and of course profit margins for everyone). People see a 25% drop in oil prices and expect the same to happen at the bowser, that just isn't reality as that reduction only applies to less than a $1 of the actual fuel price.

    • tohara on 08/03/2024 - 09:02

      Ok so when prices go up 20-30% but there isn't the same sort of rise in oil prices, or a drop in the value of the AUD, what would explain that?

      • gromit on 08/03/2024 - 09:09

        transport, availability, profiteering. The point I was making was that seeing a huge drop in oil prices isn't suddenly going to mean cheap fuel as it only has a marginal impact on the other costs involved. This doesn't negate all the other variables that affect price.

  • ECE on 07/03/2024 - 10:34

    WTF 😶

  • OzzyOzbourne on 07/03/2024 - 11:33

    Because they can. Even if we pay for an investigation, royal commission or whatever, there will be no positive outcome for the consumer

  • MJR on 07/03/2024 - 11:38
    +1

    I got a message from 7/11 yesterday saying I should think about filling up as prices were about to jump. Now some of my locals have gone from 182.9 to 231.9

  • Relapse on 07/03/2024 - 12:26
    +1

    I know some of the local major chains such as Shell like to unreasonably hike prices as a part of the cycle. Keep an eye out for smaller stations, our local is almost 30 - 40c cheaper when that rubbish happens.

  • Cluster on 07/03/2024 - 14:08

    Wholesale price of 91 unleaded in Sydney today is 181.4/L

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

    You're getting ripped off.

  • 82norm on 07/03/2024 - 14:13

    Bring back cheap Tuesday. At least you knew when to fill up. Now it’s gone, it’s anyone’s guess. As for the ACCC, absolutely useless.

  • 91rs on 07/03/2024 - 15:31

    Yep in VIC noticed between yesterday and today local and servos on the way to the office fuel went from 183.9-184.9 to 231.9 overnight, Monday being a public holiday.
    This cycle didn't dip as low as the bottom of the last cycle around the 18th Jan shown in the fuel spy app.

  • beach bum on 07/03/2024 - 16:48

    Don’t worry they’ll be doing 50%OFF most all Chinese EVs in a few months
    as the Dragon goes belly up .

  • ihbh on 07/03/2024 - 19:25

    rigged oil tycoon Ponzi

    If you're ignorant of how things work, it's okay to blame it on groups such as the Illuminati, or aliens, etc. But rigged oil tycoon Ponzi makes no sense, unless you're thinking of Bitcoin driving up oil prices.

    Anyway, for your reference, petrol price cycles. Some cycles are up but lo and behold, some are down (you need to look/plot for a long period). Wtf drives them down? Probably the opposite of what drives them up.

    https://www.accc.gov.au/consumers/petrol-and-fuel/petrol-pri…

  • scooba on 07/03/2024 - 22:56
    -1

    Didn't the donkey politicians say the were increasing the fuel tax by 40% over time?

  • bigbadboogieman on 08/03/2024 - 08:13

    They're going to screw the supermarkets. Waiting for them to do the same to oil and gas companies. They all drastically impact the common people.

  • R4 on 08/03/2024 - 10:53

    189.7 for 98 at Costco Perth Airport yesterday afternoon.
    176.7 for diesel this morning.

    Fuelwatch is showing 91 for 169.7.

  • xuqi on 08/03/2024 - 16:05

    I’m sure they’d love to blame it on the Houthi’s.

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

    A litre of fuel sold at $1.80 has the following costs associated with it:

    Price of oil - $0.60 per litre
    Excise - $0.496 per litre
    GST - $0.164 per litre

    Total = $1.26

    This leaves $0.54c per litre to cover processing costs (i.e. turning the oil in to petrol), profit margin for the manufacturer, distributor and retailer and international (shipping) and local (road freight) delivery costs.

    When you look at it this way, petrol is actually pretty cheap, especially given that a 600ml of water bought from a shop/cafe typically sells for the equivalent of $5.83 a litre.

  • Willy Beamish on 08/03/2024 - 17:49

    You want to know what it really is? It's people paying the absurd prices regardless of what they make them.

    They will always make money because people have too much money to spend in Sydney.

    • Neoika on 10/03/2024 - 08:19

      The peak prices are the same across the country, just the cycle difference.

  • HangryCakeStore on 08/03/2024 - 18:23

    Why don’t we give them as much heat as we do to Cole’s/woollies

    Should we start filling without paying for this gouge?

  • hsbc on 10/03/2024 - 05:10
    -4

    Buy EV

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