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Fuel prices set to rise this week

By Matt Brogan |

Petrol Commissioner Joe Dimasi said this morning that the price of fuel was on the way again up due to a 10-cent increase in the international benchmark.

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Though the climb would be particularly evident because of the regular Thursday spike, Mr Dimasi said he would be keeping an eye on petrol companies over the Australia Day long weekend to ensure customers weren’t being ripped off.

Fortunately there had been no evidence in recent months of price gouging on long weekends.

“Retailers should bear in mind it is the Australia Day weekend and they should moderate the price increase,” Mr Dimasi said.

Unleaded petrol prices have dropped almost 59-cents a litre since hitting a peak in July last year and should not return to the $1.60 mark this year thanks to the weakening world economy. There was even a chance they could dip below $1.00 per-litre for a sustained period.

Diesel prices are also on the way down, thanks to a drop in demand from Asian countries.


 
  • Stevo

    ???????Primus??????????

    Technically speaking I think the fuel prices have already gone up due to the exchange rate. I even noticed that the fuel prices change from day to day?

  • Wayne Kerr

    Hmmm I tend to disagree the worlds governing fuel body has stated that with the global economic crisis that they will be keeping oil prices at a minimum. Which inturn will result in cheaper petrol prices at the pump.

  • Horse

    Oh well i’m glad Joe will be ‘keeping a eye’ on petrol prices over the long weekend.
    I can rest easy now :-$

  • MB

    wife works for an oil compnay get 25 cent off a litre anyway.

  • Realcars

    It’s all bullshit!!!!

    Price drops from $150 a barrel to $40 a barrel and the bowser price drops by 30% even taking into account the drop in our dollar this must be the biggest ripoff ever!!!

  • Realcars

    Yanks f$%k the world economy and their dollar goes up?
    Go figure.

  • Realcars

    How much does this clown get paid to tell us we are going to be gauged again?

    300k,400k,500k a year or am I being too conservative?

    Would be as good as winning Lotto every year for the rest of your life. I bet he really works his fingers to the bone coming up with the obvious.LOL.

  • Realcars

    Yanks need to hang Greenspan from a pole by his old man’s B##LS until he repents for his total incompetance,the wrinkley old F%^k!!!LOL

  • RoFlmaTiC

    The thing is realcars, that not all of the price of petrol you pay at the pump is comprised of other costs, not just the cost of crude petrol. Theres the cost of shipping that crude to Australia, refining the crude, and then transporting the crude to petrol stations, then employing people in those stations. These costs are all independent of the price of crude oil.

    Say the australian dollar has lost 33% of its value. At the same time the price of oil has dropped 66%. The net effect would be a price drop of 50%

    However, if we say that half the cost of petrol is from fixed costs, not the price of crude oil, then the final price of petrol would only drop by 25%

    ie: $1.50 x 75% = $1.125

    Which is pretty close to the real world situation.

  • Interceptor

    Solution? Buy a Smart car. hehehehe
    only jokin….

  • Realcars

    Chairman Crudd has called for wage restaint in these hard economic times while giving his chronies a bonus.

    Nothing ever changes does it?

  • http://www.caradvice.com.au/20893/fuel-prices-set-to-rise-this-week/#comments Hans

    Realcars Says:
    January 21st, 2009 at 5:27 pm

    Yanks need to hang Greenspan from a pole by his old man’s B##LS until he repents for his total incompetance,the wrinkley old F%^k!!!LOL

    Show us your ignorance… Mr Greenspan has not been the US Federal reserve chairman since Feb 2006, well before all this happened. His successor and the current chairman is Ben Bernanke.

    So by Realcars’ reasoning anything and everything that goes pear shape in the Australian economy should be attributed to Mr Glen Stevens… no wait he’s now blaming ‘Chairman Crudd’ now.

    Back to the original topic, petrol prices need to reflect the fact that it’s a finite, non renewable, polluting resource. We’ve ratified Kyoto and have set ourselves an emissions reduction target for 2020 so petrol is only going to get more expensive in the not too distant future. I find it fascinating that petrol prices keeps making the headlines yet it costs me nearly twice as much to fill my shopping trolley each fortnight than it does my car. Why doesn’t anyone get on their high horse about runaway grocery prices???

  • Phill

    Wait until the bailout money runs out in the U.S and they slip into a depression and watch the price rise to over $2 a litre for fuel here.

  • simon

    Oh its doom everywhere!
    We’ve had things easy for so long and now we are headed for a recession. The world isn’t perfect – why is everyone so surprised? Work hard, pay your taxes, save some money and live life. Fuel prices will never seem fair but what is the alternative? Lots of people are going to be in a bad way when the crunch fully hits but apparently it’s all the government’s and the oil companies fault. What ever happened to personal responsibility? If aren’t happy with the cost of living, try Zimbabwe or other third world country. How easy it is to forget clean water, reliable electricity, world class health services, excellent education, freedom of speech, 000, fair elections, high employment, a welfare system, a Defence Force that ensures ongoing security but to list a few.
    I just don’t remember when the world owed me anything, I wish more people would get some perspective.
    So many posters here remind me of Billy Joel’s “Angry young man”. Our ancestors would be disgusted with our whinger attitude. Harden up!

  • tony

    I think realcars might be right (first two points only, the rest is just unconstructive ranting)
    yes RoFlmaTiC there are fixed costs to consider but the main cost, wages (the service station employees) which an oil company does not pay anyway has not keept up with inflation whereas fuel has leaped ahead in leaps and bounds if exxonmobile could make 35Billion in 07/08 whilst paying $150 a barrell and then break its own record in profit for 08/09 (45Billion) then fixed costs has nothing to do with it. scientists where saying back in the 70′s that we had reached our peak in oil reserves but we contiue to find new reserves to dig up, im not saying we should not consider the environment by bying fuel efficient cars but we certainly should not be getting lumped with these sorts of prices and then have to listen to the fuel watch spoksmen get on the news and tell us he cant see why petrol isnt 5c cheaper. i can its in exxonmobils bank account, again.