Gouged at the pump

nulla nulla · 19 February 2009

This morning (Thursday 19 February 2009) the local Caltex/Woolworths outlet has ulp at $1.338 per litre. This is while Oil is less than $36 per barrel. I don't know what the latest price of Tapis or Singapore Sweet is at the moment but there is no way it has gone up to the point where we are almost paying as much at the pump as when oil was $130 a barrel. This is called having the public over a barrel and thumbing your nose at the ACCC.

Aussiejeff · 19 February 2009

nulla nulla said:
This morning (Thursday 19 February 2009) the local Caltex/Woolworths outlet has ulp at $1.338 per litre. This is while Oil is less than $36 per barrel. I don't know what the latest price of Tapis or Singapore Sweet is at the moment but there is no way it has gone up to the point where we are almost paying as much at the pump as when oil was $130 a barrel. This is called having the public over a barrel and thumbing your nose at the ACCC.

Hey nulla nulla - I feel your pain!!

At the risk of sounding like a broken record, I repeat - the price of local petrol has NOTHING to do with the price of Tapis or Singapore Sweet oil or any other barrel of oil for that matter.

However, the local OZ price of fuel has EVERYTHING to do with the daily price of landed Singapore MOPS95 unleaded fuel. That is the ONLY benchmark that the media should quote. But they never do.

Amazingly, I heard an RACV spokesman on radio this morning wanting the gummint to review how our local pump prices are tied inextricably to this crazy, nebulous benchmark.

Until then, we are screwed. Then again, we will probably be screwed no matter what benchmark the gummint wants to hang around our necks...

nulla nulla · 21 February 2009

Hi AJ, today Saturday 21 Feb 2009, the local Caltex/Woolworths outlet has ULP at $1.199pl. I have previously indicated that there should be a review/comparison, in the period of time since the commencement of the invasion of Iraq, of:
1. The Aud$ v's the US$;
2. The price of Oil per barrel; and
3. The price of ULP at the pump.

Substituting the cost of "landed Singapore MOPS95 unleaded fuel" for "the barrell price of oil" would still demonstrate that pump prices surged with the cost of a "barrel of oil/barrel of tapis/barrel of Singapore sweet" but has not come down relative to the falling price of oil(s). The ACCC needs to review the cosy arrangement of Caltex/Woolworths and Shell/Coles, as they now monopolise the market with their discount vouchers and they are not truly competing for the benefit of the Australian Public.
If the ACCC can't see through this cosy arrangement, maybe we should get the ACTU to start up another discount chain or an independent refinery.

gav · 21 February 2009

Nulla Nulla, I refuse to buy fuel at Caltex/Woolworths. For some reason I get around 5-10% less KM's per tank.

Aussiejeff · 21 February 2009

nulla nulla said:
Hi AJ, today Saturday 21 Feb 2009, the local Caltex/Woolworths outlet has ULP at $1.199pl. I have previously indicated that there should be a review/comparison, in the period of time since the commencement of the invasion of Iraq, of:
1. The Aud$ v's the US$;
2. The price of Oil per barrel; and
3. The price of ULP at the pump.

Substituting the cost of "landed Singapore MOPS95 unleaded fuel" for "the barrell price of oil" would still demonstrate that pump prices surged with the cost of a "barrel of oil/barrel of tapis/barrel of Singapore sweet" but has not come down relative to the falling price of oil(s). The ACCC needs to review the cosy arrangement of Caltex/Woolworths and Shell/Coles, as they now monopolise the market with their discount vouchers and they are not truly competing for the benefit of the Australian Public.
If the ACCC can't see through this cosy arrangement, maybe we should get the ACTU to start up another discount chain or an independent refinery.

The graph in Shell's own submission to the ACCC shows that tying our prices to "landed Singapore MOPS95 Unleaded" helps add at least 6c/litre to the price at every one of our local pumps. That approximate 6c/litre margin is a "free bonus" to the wholesaler because it is for the mostly imaginary "freight" cost from Singapore (even though 85% of fuel is not imported from overseas or Singapore).

So, if the gummint was to ditch this crazy Singapore benchmark for a local Oz benchmark, maybe the price per litre could be reduced by around that 5-6c litre mark.

Of course, that would reduce the gummint's tax take compared to the current nett landed price! So, they will likely stick with the cash cow for now.

aj

nulla nulla · 10 March 2009

Another offer of $0.15c per litre discount from woolworths/caltex, subject to the spending of $300 at their stores.
Problem is that local price for standard ulp is $1.129pl.
Also my last purchase of 98ron was charged at $0.15cpl more than standard, although the memo from head office states 98ron ulp should only be $0.14cpl more than standard ulp. When challenged the staff organised a refund of the overcharge but you have to wonder how many didn't challenge it and were ripped off.

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