Australian petrol prices hit record high of up to $1.94 a litre   :(
It’s now the fifth largest weekly expense to household budgets and there are fears it could mean a costly Christmas for those heading off on holidays.
News.com.au
November 23, 2021

Skyrocketing petrol prices are fast becoming one of the greatest expenses for Aussies with some services stations charging a whopping $1.94 a litre.

Spending on petrol hit a record high in November, with households shelling out $237 on average a month as supply outstrips demand as globally economies bounce back.   :(

Nationally, the average petrol price has risen 1.7 cents to $1.66 over the past week, although Brisbane residents were hit hard with the cost exploding to $1.83 a litre on Monday.

Petrol is the fifth largest weekly expense to household budgets, according to CommSec analysis.


It’s also the largest contributor to increases to the cost of living, said NRMA spokesman Peter Khoury.

“It’s hurting families and impacting local communities and hurting the local economy as it’s an essential commodity and essential budget item for every family and I know we are hoping for some relief on prices,” he told news.com.au.   

Every capital city in Australia broke the record for the average price of petrol, Mr Khoury added, with Brisbane prices particularly “brutal”.

“Brisbane doesn’t have the level of competition that you see in other cities, while Adelaide is very competitive and Sydney was more competitive than it currently is but Brisbane takes to a whole other level,” he said.

“Its price increases have almost hit $1.90 on average and are currently at $1.85, which is an absurdly high price. Brisbane has been extremely high and the other capitals weren’t great but nothing like Brisbane. Sydney’s highest got to $1.74 and others were in the $1.70s for regular unleaded.”


The Australian Bureau of Statistics found petrol prices have increased by 36 per cent since the lower costs in the middle of the Covid-19 crisis, where they scraped in at $1.10 a litre as demand fell away.


Ride share drivers have also complained that higher petrol prices are forcing them to work longer hours as their pay fails to keep up with the pace of increase.   

Major oil producing nations known as the Organisation of the Petroleum Exporting Countries (OPEC) have been capping oil output with jitters that new outbreaks of Covid-19 in countries could soften demand again, said Mr Khoury.

He added that prices are so high right now it is hard to see what relief from the skyrocketing costs would look like, although he noted that oil prices had dropped by $10 a barrel which should offer a decrease in coming weeks.

“We need to see more significant drops if we are going to see a meaningful change in bowsers and the driving force behind this is supply isn’t meeting demand and that has to be addressed,” he said.

“The US administration has been pushing for that to happen and calling on the OPEC and other countries to increase levels, but they are not listening to the US government, so we are going to have sustained problems.”


While Mr Khoury said they are waiting for announcements on supply for December and are hopeful for an increase, he warned the soaring prices could continue until Christmas.

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“Obviously we don’t want to see that at a time when families areas getting in car and hopefully families are finally having a Covid-free holiday,” he said.

“NRMA research shows overwhelming that Australians are having a domestic holiday, which is important for regional economies to be boosted but an extra $1 at the bowser means a $1 less they can spend in the regions.”   :(

What must be understood is how the grubberment works.

They master being parasites, taking anything they can get and then more.

The real question is why we are being taxed 50% plus for every litre of petrol?

Very little goes back into roads, hell if all the tax they get from petrol went back into roads we woukd have the best roads in the world.

Most goes into what they term, "consolidated revenue"
This is grubberment speak for "money we can waste and give ourselves pay rises".

They dare to blame the world market, and yet we are well and Truely capable of being self supporting with fossel fuels, if only we pumped it ourselves and processed it ourselves.
But, as always, some public serve us criminals orchestrated deals with multinationals to take our oil and process it elsewhere then sell it back to us at a premium.
Even though the shite they send us is so poor in quality that many European cars can't run on the shite.
Still, a few public serve us assholes came out in front with their nice bribes and probably a few politicians as well.

Petrol Companies just want re-imbursement on their profits lost when everything was locked down and hardly anyone was driving their monoxide vehicles.
Poor Fuel Companies didn't make the money they usually do.
So now, due to some BS excuse of Taliban or whatever in the Middle-East, they jack up the prices sky high to catch up to where they should have been as if there was no lock down and empty streets devoid of cars guzzling fuel in 5kmphr gridlocks.

Australia - you're being RIPPED OFF as usual and as usual - there is NOTHING YOU CAN DO ABOUT IT, but complain as usual.

Just fill up and drive off.
Thanks to the lefty wankers we can now do this.
Cops won't come after you, to busy bashing protesters.

FTSE 100 hit by biggest fall since June 2020 amid new variant fears

Travel, aviation and oil stocks around world badly hit as worries deepen over effect of fresh Covid wave on global economy


Quote:

Fears that the B.1.1.529 variant could hit the global recovery sent the oil price plunging, too. Brent crude fell 4.5% to $78.31 (£58.75) a barrel.

Cheaper petrol prices on the way here in Australia? I won't be holding my breath...

filled one car with diesel yesterday at $1.58
Filled the other with unleaded at $1.89

it's friggen ridiculous, and all thanks to little johnnie coward

Captain Caveman wrote on Nov 26^th, 2021 at 9:39am:

Just fill up and drive off. Thanks to the lefty wankers we can now do this. Cops won't come after you, to busy bashing protesters.

you would do that wouldn't you?  ::)

John Smith wrote on Nov 27^th, 2021 at 8:50am:

filled one car with diesel yesterday at $1.58 Filled the other with unleaded at $1.89 it's friggen ridiculous, and all thanks to little johnnie coward

Up in Grafton a few weeks ago the cheapest diesel I could get was $1.73
Petrol was $1.89.

Thankfully, when I filled up my little car yesterday, the petrol was $1.65, but it's still too expensive.
Milk is cheaper, if only I could run on milk.

Valkie wrote on Nov 27^th, 2021 at 6:19pm:

John Smith wrote on Nov 27th, 2021 at 8:50am: filled one car with diesel yesterday at $1.58 Filled the other with unleaded at $1.89 it's friggen ridiculous, and all thanks to little johnnie coward Up in Grafton a few weeks ago the cheapest diesel I could get was $1.73 Petrol was $1.89. Thankfully, when I filled up my little car yesterday, the petrol was $1.65, but it's still too expensive. Milk is cheaper, if only I could run on milk.

What does the price of milk have to do with petrol prices?

greggerypeccary wrote on Nov 27^th, 2021 at 7:09pm:

Valkie wrote on Nov 27th, 2021 at 6:19pm: John Smith wrote on Nov 27th, 2021 at 8:50am: filled one car with diesel yesterday at $1.58 Filled the other with unleaded at $1.89 it's friggen ridiculous, and all thanks to little johnnie coward Up in Grafton a few weeks ago the cheapest diesel I could get was $1.73 Petrol was $1.89. Thankfully, when I filled up my little car yesterday, the petrol was $1.65, but it's still too expensive. Milk is cheaper, if only I could run on milk. What does the price of milk have to do with petrol prices?

Milk is something generally purchased in relatively small quantities and up until recently has been more expensive than petrol, which is a consumable.
Consumables are generally of a reasonably low price because they are usually purchased in larger quantities.

Therefore, one would expect milk to always be more expensive.

It's a comparative thing.

Sort of " What has that to do with the price of milk"

Is this idiot for real? Milk isnt a consumable? really?
Anyway, perspective,  I pointed out to the missus today that fuel in real terms is cheaper than around 20 years ago. And it is. Oil has been cheap for quite a while and we have become used to it, if it goes to $2 a litre its still cheaper than 20 years ago. We spend about $100 a week between the 2 of us  on fuel, even a 50 percent price rise would make it $150.

Back in the late 1990s, I was a delivery driver. The cost of running the car depended on how expensive the fuel was. Fortunately, Russia decided to dump a heap of oil onto the market. We were driving around at between 60 and 90c/L at one stage. By the time the new century began, we were doing around 90c/L minimum. At least around town here was 90c/L. Brisbane was usually spoiled with low petrol prices.

Even though I only need to fill my car up once every 2 or 3 weeks, it cost me $1.74/L last week. That is about the price of the 90c/L fuel we were using in the late 1990s, if we factor in inflation. I am just glad that I do not have to drive into town from out bush, like some people I know.

rhino wrote on Nov 27^th, 2021 at 9:29pm:

Is this idiot for real? Milk isnt a consumable? really? Anyway, perspective,  I pointed out to the missus today that fuel in real terms is cheaper than around 20 years ago. And it is. Oil has been cheap for quite a while and we have become used to it, if it goes to $2 a litre its still cheaper than 20 years ago. We spend about $100 a week between the 2 of us  on fuel, even a 50 percent price rise would make it $150.

Have you ever, in your entire life, ever had anything but futile hatred influencing your posts.

Poor man,  I feel so sorry for you.

rhino wrote on Nov 27^th, 2021 at 9:29pm:

Is this idiot for real? Milk isnt a consumable? really? Anyway, perspective,  I pointed out to the missus today that fuel in real terms is cheaper than around 20 years ago. And it is. Oil has been cheap for quite a while and we have become used to it, if it goes to $2 a litre its still cheaper than 20 years ago. We spend about $100 a week between the 2 of us  on fuel, even a 50 percent price rise would make it $150.

Yep.

These whingers are crazy.

Channel 7 "News" tells them petrol is expensive and that they should be outraged, so they blindly do what they're told.

I never look at the price on the boards out front - when I need fuel I pull into the first petrol station I come across and fill up.

Not sure what Valkie is going on about in regards to milk.

John Smith wrote on Nov 27^th, 2021 at 8:50am:

filled one car with diesel yesterday at $1.58 Filled the other with unleaded at $1.89 it's friggen ridiculous, and all thanks to little johnnie coward

Who's this johnnie bloke that's so powerful he can simultaneously cause a spike in demand for oil while getting OPEC to reduce production?

I guess this same johnnie bloke was also responsible for Australia having the lowest petrol prices in 22 years for the majority of 2020/21. Yay for johnnie!

Australian petrol prices in 2020-21 were lowest in 22 years

Average retail petrol prices in 2020–21 in Australia’s 5 largest cities were the lowest in 22 years in real inflation adjusted terms, according to the ACCC’s latest petrol monitoring report released today.

https://www.accc.gov.au/media-release/australian-petrol-prices-in-2020-21-were-lowest-in-22-years

American article but same fundimentals.

Gas prices in the US have hit a seven-year high.
Demand has increased as the economy reopened and Americans have begun driving more.
Meanwhile, supply has been constrained because of lower US production and OPEC decisions.

https://www.businessinsider.com.au/why-are-gas-prices-so-high-right-now-3-reasons-2021-10?r=US&IR=T