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Petrol is cheap again....except in Australia

Petrol is cheap again....except in Australia

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On the weekend I was talking with my brother. I was saying to him, "Isnt it awesome that petrol is so low again"

"What do you mean?", he says to me "Its still $1.50 per litre."

Then today I see this article on NineMSN. Im shocked. When I first got to the USA 3 months ago, fuel was $4.20/gallon (or around $1.10/lt). At the same time in Australia it was $1.56/lt.

Now this morning I filled up and it was $2.70/gallon. Thats around 70c/lt...and thats for premium unleaded!

Lets work out that percentage. In the US it drops by nearly half. Ill let you work out the Australian percentage. How come it hasnt dropped by the same amount in Australia?...and dont tell me its the exchange rate...

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  • PingBack from http://mstechnews.info/2008/10/petrol-is-cheap-againexcept-in-australia/

  • You have become quite the Aussie basher haven't you! :)

    It is ridiculous though! I did fill up for $1.35 yesterday though...so it's coming down slowly.

    And..if the stations can do this: http://www.news.com.au/business/money/story/0,25479,24574998-5017313,00.html

    You know they are making way too much!

  • Depressing as usual! It doesnt help that the Aus Government greedily taxes petrol at 50% and then charges GST! (this is meant to fund our roads)

    Seriously.......if you have been around Australia, you would realise the roads are quite average compared to other countries!

    Enjoy the cheap petrol! Too bad you sold your Bike!!

  • What was the dollar at when you left? I remember it being about 95 cents or so at that time. It is around 65 now.

  • Yep, primarily the exchange rate :-)

    We never got the price increases as badly to start with because the AUD was so strong there for a while (up to 97c), now it's not :-)

    When I was in Seattle in August, I was getting 87c to the dollar, it's dropped as low as 60c this week, so while oil has come down, the AUD value hasn't nearly as much.

    It is getting lower though, I saw it as cheap as $1.27 this week....and yes, they're still likely charging a premium because they're greedy bastards as well

  • Anthony - sorry! Im not actually trying to Aussie bash...just wanting point out some interesting facts. Its interesting what you see when you leave...and just how much we are nailed in Australia.

    Simon - are you saying Im depressing or that its depressing Australia is not getting a fair deal? :) Im still sad I sold the Duke...but 1098's are very cheap here. :)

    Orin (and Duncan) - yep it was. But heres something for thought. The oil price has gone down by 2/3's yet the dollar has only gone down by 30%. That leaves at least 30% the difference. How come the petrol price has not gone down by a third? Hmmm...

  • Looks like you are right, I pulled the figures

    According to This:  

    http://www.eia.doe.gov/emeu/international/crude1.html

    and this http://www.x-rates.com/d/USD/AUD/data120.html

    1 July 2008. AUD = 95.3 US cents Oil:142.72 USD (Brent/Barrel) = 149.75 AUD / Barrel

    27 Oct 2008. AUD - 60.7 US Cents Oil:59.59 USD (Brent / Barrel) = 100.00 AUD / Barrel

    That having been said, according to the RACV website the average price in MelbourneThe prices around here are about 1.30/Litre - which is certainly down from the 1.65 it was, but isn't a 30% drop.

    Also, remember that traditionally US petrol prices come down around election time - so this time next week - you could be back paying Perth prices ;-)

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