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.