Heard on the News this morning that the head of OPEC was quoted as saying "The Current price of fuel was abnormally high and could fall as low as $US78 per litre in the near future" which will mean we start paying less than $1.00 per litre.
Suddenly fishing becomes more viable for people. I guess we just wait and see???
Fillet and Release Squad
G'day
Call me a sceptic, but I don't see the price coming under the $1 mark, even if the barrel drops significantly
Dave
I agree, buts its nice to dream!!!
Fillet and Release Squad
Just checked the calender and nope....it's not April 1st.
i guess a lot depends on political stability in the middle east
The only thing pushing the oil price up is china, they have a huge demand for it. But when it comes to petrol at the pump, there simply isn't enough competition to keep prices down and when we've got so called expert Business analysts "predicting" that fuel will go up, what would you do if your were Mobil, Shell etc, me I'd just go "oh well, they've predicted it, let's not make liars out of them, that's the governments job".
I'll believe it when I see it. But it would be nice though.
The price of fuel will drop and has in some parts of Australia already dropped twenty cents a litre in the past two weeks, back to 1.45 a litre in Geelong (It was up to 1.69) . Expect these trends to continue, but I doupt it will ever be under as dollar a litre again.
Not long ago, a few months, 2 respected but different forecasting institutions each forecast 2 different fuel price by Christmas, one said $2 p/l the other 80C p/l. Guess which one got the most dramatic media air and paper time, the other just as reputable forecast was near totally ignored.
Possibly the ignored forecast will win in the end?..... Sounds identical to our environmental forecasts, the voices of reason and understanding are simply not dramatic enough to be worthy of repeating when trying to sell an ideology and make more money.
cheers fnq
such a dramatic rise in prices such a short time cannot be sustainable just as the stock market dipped oil is tipped to dip soon as well, just depends how far the rise was fuelled by speculation. now they are talking about interest rate cuts as well depending on how much the economy softens.
Dont forget there has been a little political pressure bought to bear on opec, with the yanks paying them a visit,then out of the blue, the yank petrol stocks suddenly are good for 20 years.
The toothless tiger (KRudd) pay em a visit,
Then Opec comes out and says, "we think the price has reached an equilibrium in the market place".
yet the price per barrell starts to drop, now much lower predictions coming out.
Funny that hey..
Regards
Honda
Every 2 cents in price change in diesel = $100 per month on my bottom line. We have been able to adjust the type of work we're doing to cope with the diesel price, so we're OK. But the question I have to ask is;
1. Why is diesel NOT coming down in price, and,
2. Why is no one saying anything about it???
Cheers,
Tim
Carbon Really Ain't Pollution.
Tim I was in the Petrol Station business many yrs ago WHEN DIESAL was around 10 cents per litre CHEAPER than petrol.Originally Posted by TimiBoy
All of a sudden some yrs back it overtook petrol, who knows WHY, however I was talking to an older fella a week ago {petrol station owner} & asked him. He was told by an engineer from an oil company that the cost to refine diesal was a much more expensive process due to the extra refining it needs over petrol
After all diesal is only basically Kero & Oil
We must keep in mind the ACCC has about as much balls as the UN or an injured toothless tiger.
Gagga, aren't Victorians still paying the 3 cent levy for the Pyramid collapse many yrs ago? Bloody Geelong's gotta lot to answer for!
Yeah mate...I dont follow the news much anymore..it's a bloody circus..
Just have a think for a minute about how many of our financial and social trends are media driven or at least influenced to an astounding degree by sensationalist reporting created by competition for ratings...
Its a disgrace really and my kids have not watched free to air telly in their lifetimes ...it's an absolute waste of headspace.
Scott
very wise words dave , the oil companies in oz will not allow it to drop below $1 as it was such a big deal getting above it . they have conditioned the market and will come up with all sorts of bs to keep it conditioned .
mark
I keep an eye on the bloomberg site... It's updated oil prices every 30mins... Today it dipped as low as $121.53 barrel.... I have been trading for years on the Stock market and Forex..... My prediction last week was if the bbl didn't hit $127 by Tuesday this week, we can expect it to go as low as $121bbl..... I think there will be a lot off resistance at $120 wit traders buy at relative cheap price in a hope it will reach $150...
I personally think if the bbl drops below the $120 mark, we will definitely be in bear market, and I would not doubt that the oil will fall to $100 a barrel before the end off the year....
As a nation we need to keep the pressure on the policies and oil companies... None off this near enough is good enough crap, in terms off price/litre.. If were ever going to see petrol at $1.00 again, we need to play hard. That means using less fuel and staying vocal and demanding alternative fuels... The use off alternitve fuels scare the crap out off oil companies, even more so, electric vechials... So a bigger demand for them is going to drive the oil companies crazie...
Don't let up or the bastards will try to bleed us dry again......
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