Now forgive me for having a bit of a rant here, but I feel it has to be said. Have you even wondered why oil companies are so quick to raise the bowser price when there’s even a slight change in the price of crude? I know I have. I’ve also wondered why when the reverse happens, our pump price remains inflated, seemingly never to fall again.
With oil prices now below $US80 per barrel ($US78.63 at close in New York last night), pump prices should be in the vicinity of 105 cents per litre here in Australia – and that’s still being generous. So how is it the pump price this morning at my local servo was 145cpl?
It’s certainly a far cry from the record high of above $US147 per barrel reached in July, yet pump prices have fallen – at most – fifteen cents. Am I the only one noticing a disparity here? Please feel free to leave a comment.