Just a heads up - Fuel (again)

[flossybeth]

Heard on the news bulletin about an hour ago (that'd be around 8pm) that fuel is set to rise by up to 30 cents a litre shortly - they didn't specify when.

 

Just been and filled up...

[Tamara (Homes Down Under)]

Thank you...tank is almost empty and it's $1.22 up the road....am going out in the rain t fill up...with the 8c discount that's $:smile:1.14 per litre

[flossybeth]

When they said shortly they didn't mean soon did they - just seen fuel's now down to 121 at our local Coles... you can bet if I hadn't dashed out though it would have gone up over night.

[Tamara (Homes Down Under)]

When they said shortly they didn't mean soon did they - just seen fuel's now down to 121 at our local Coles... you can bet if I hadn't dashed out though it would have gone up over night.

 

That's always the case...you buy it and then it drops a few cents.

The rise is coming!

It will feel much better when you have saved $15 when the drop shoots up!

[NicF]

I made my OH go out and get some the other night just in case. It hasn't gone down any more around us just yet but I know if he hadn't got some then it would have gone up before we got round to doing it.

[snifter]

It jumped 20c overnight a few days ago. Glad we filled up the tank the day before

 

The fuel cycle price thing annoys me a fair bit. I don't see how this cycle can be justified and a price increase of 20c overnight when oil didn't suddenly jump in price. I get a few cents as and when but the whole thing being done over a number of weeks and this wild variation, meh

[Tamara (Homes Down Under)]

The weekly price fluctuation....and often many price changes in that week just doesn't make any sense. Cheap fuel days! WTH!

Why can't we have a consistent price. If there's a currency change or a change in the oil price then a monthly change to over or under recover the price.

Pity that there's isn't any other retailer except Costco to really discount fuel.

[Tamara (Homes Down Under)]

Fuel price has dropped again to around $1.24...but I reckon that it's going to drop further....would you agree?

 

What is the fuel price in the UK?

[flossybeth]

Yep - I'm still waiting for it to go up by that 30 cent jump... bloomin' RAA!

[Lily Rainbow]

Fuel in the UK where I live is currently £1.12 per litre.

[Tamara (Homes Down Under)]

Fuel in the UK where I live is currently £1.12 per litre.

 

OMG..I just filled up at $1.20 minus 8 cents for spending $5 instore......= $1.12 here.

It's going to be a shock to the system when I visit next year!

[Lily Rainbow]

Update....filled up yesterday,now £1.10! I don't think that's expensive Tamara?To fill my car costs me £30,that usually lasts me 3 weeks,and I drive to work and back each day,go out and about on my days off?

[chrisda]

Its $1.15 at the local servo. Twice as dear in blighty then.

[snifter]

Tueaday morning, local servo and others was around $1.14. On the way home from Port Adelaide later in the day they had all jumped to $1.39

 

and and and

 

Its just daft. Stupid amount to price hike.

[Tamara (Homes Down Under)]

Tueaday morning, local servo and others was around $1.14. On the way home from Port Adelaide later in the day they had all jumped to $1.39

 

and and and

 

Its just daft. Stupid amount to price hike.

 

I filled up when it was $1.20 then it dropped to $1.14. There used to be cheaper days. Then it became cheaper over the weekend and now....who knows!

Oil is still around the mid $45 so no reason for such a spike. I just don't get it.

Can anyone enlighten me why the price changes almost daily?

[snifter]

I did some reading on it this evening Tamara.

 

This shows the cycle well here in Adelaide - https://www.accc.gov.au/consumers/petrol-diesel-lpg/petrol-price-cycles#petrol-prices-in-adelaide

 

Found the following

 

[h=2]Petrol price cycles[/h]Petrol price cycles, where prices steadily go down followed by a sharp increase, occur in some major cities.

These cycles occur in Adelaide, Brisbane, Melbourne, Perth and Sydney.

Price cycles are the result of deliberate pricing policies of petrol retailers and not directly related to changes in costs.

The length of the price cycle, from cheapest day to cheapest day, varies from cycle to cycle. In 2012, in Adelaide, Brisbane, Melbourne and Sydney the length of the cycle has increased from ten to around fourteen days. In Perth, the cycle has consistently remained around seven days.

See: City petrol cycles

 

 

 

 

This shows the cycle well here in Adelaide - https://www.accc.gov.au/consumers/petrol-diesel-lpg/petrol-price-cycles#petrol-prices-in-adelaide

 

And (though why they can't just have a more consistent pricing in the longer term rather than these discounting cycles is what I really want to know)

 

Retail prices in many metropolitan areas typically follow a discounting cycle (the saw tooth pattern shown in the chart above).

 

• Customers in many capital cities will be familiar with these discounting cycles, which have typically occurred on a weekly basis. Highly visible price boards allow customers to take advantage of low prices and competitors to observe price discounting.
  
• Petrol prices fall steadily due to service station operators aggressively discounting to attract customers. However, maximum discounts can only be sustained for short periods before prices are restored. This is typified by a lift in prices before the discounting cycle starts again.
  
• ACCC analysis clearly shows that petrol prices do not increase because of long weekends or public holidays.
  

 

 

[snifter]

I also found these, cheapest fuel price finder

 

http://www.raa.com.au/motoring-and-road-safety/fuel/metropolitan-fuel-prices

 

and this one where it tells you which point in the cycle the prices are at and if its a good time to fill up or wait (if you can).

 

https://www.accc.gov.au/consumers/petrol-diesel-lpg/petrol-price-cycles

[Tamara (Homes Down Under)]

Thanks for this!

So the retailers are to blame

 

I need to fill up 2 cars...it's about $1.19...reckon I should hold out (run on fumes) for another price drop?!

[snifter]

Thanks for this!

So the retailers are to blame

 

I need to fill up 2 cars...it's about $1.19...reckon I should hold out (run on fumes) for another price drop?!

 

I just put in $10 the last couple of times to see me through so the tank is near to empty when the cycle low of about $1.15 hits in a few days I shall then fill it right up and top it up again just before the cycle jump.

[clarkes]

The price has stuck at $1.19. I expected it to go down over the weekend but it didn't. How do you forecast the future price?

[snifter]

The price has stuck at $1.19. I expected it to go down over the weekend but it didn't. How do you forecast the future price?

 

I filled up at $1.14 the other day along Marion Road. It had been $1.19 the day before but had dropped at the ones heading north so I pulled in and filled up. This was Friday evening. Oddly over the weekend I drove past and it had jumped back up to $1.18. They all seem to be stuck round there now.

 

It should hopefully drop some more soon although based on the past month this could be as low as it goes and it will jump soon.

 

Try this to see where is cheapest near you

 

http://www.raa.com.au/motoring-and-road-safety/fuel/metropolitan-fuel-prices

 

Also this shows the fuel cycle so you can see how it trends

 

https://www.accc.gov.au/consumers/petrol-diesel-lpg/petrol-price-cycles

[Tamara (Homes Down Under)]

Does anyone know what the breakdown of the fuel price is?

I know that the accident fund recently received an additional amount but how much is tax, accident fund, profit to the retailer, supplier etc?

 

The present price of around $1.06 per litre is a bonus compared to the $1.40 / 50 that we were paying BUT..if the oil price is now one third the price why are we still paying so much?

Are the taxes a fixed amount per litre or a percentage of the price?

[NicF]

According to this website http://www.aip.com.au/pricing/facts/Facts_about_Petrol_Prices_and_the_Australian_Fuel_Market.htm fuel excise is about 38 cents a litre, then you have GST at 10%.

[Tamara (Homes Down Under)]

Apparently we have low fuel prices compared to the rest of the world. Our "high" price seems to be the fault of the drop in value of the AU Dollar.

Our accident fund gets it's tax from the rego.

 

The breakdown of cost:

 

WHAT IS IN A LITRE OF PETROL?

 

There are a host of factors that make up the price of fuel at the bowser. Assuming a price for unleaded petrol at $1.30 per litre, the actual cost of the fuel is around 65 cents/litre. This price is based on the Singapore benchmark price for petrol (MOPS95 Petrol) and is the market most closely linked to prices in Australia. Shipping adds around 1-2 cents per litre to the price. The Federal Government then imposes a tax of 39.2 cents per litre in the form of fuel excise (which increases twice a year in line with inflation) and GST is included in the pump price. Overall, government charges amount to around 50 cents per litre. The wholesale and retail margins add around 10-20 cents a litre onto the final price.

 

 

 

So when it comes to petrol taxes, what are the facts? When ranked against other nations, do Australians pay high, low or average petrol taxes?

How much tax motorists around the world pay per litre of fuel. Prices shown are in US dollars. International Energy Agency quarterly Energy Prices & Taxes report, CC BYThe International Energy Agency publishes quarterly reports on unleaded petrol prices and taxes. The latest report surveyed petrol

 

 

prices in the first quarter of 2014 in 32 countries. As you can see above, the report found that only three countries – Mexico, the United States and Canada – have lower petrol taxes than Australia.

Bureau of Resource & Energy Economics (Australian Petroleum Statistics) and the International Energy Agency (IEA) figures, compiled by the Australian Institute of Petroleum. Prices shown are in Australian dollars.Australian Institute of Petroleum, CC BYIn fact, Australia is one of only ten countries surveyed where taxes make up less than 50% of the price. While the figure for Australia stands at 34%, in some European countries taxes account for 60% of the cost of petrol at the bowser.Australia’s fuel excise has been frozen at A38.143 cents per litre since 2001, when John Howard’s Coalition government ditched indexation to offset the price hike caused by the introduction of the goods and services tax (GST).If the excise had remained indexed to the annual inflation rate, by 2013 it would have stood at approximately A52.9 cents per litre. (Note: I calculated this using the Reserve Bank of Australia’s calculator). Without the fuel excise freeze, taxes in 2013 would have accounted for about 40% of the petrol price – which would have meant Australia’s petrol taxes were still among the lowest in the developed world.As I have explained on The Conversation before, other factors including the value of the Australian dollar and global oil prices will matter far more to how much you pay, rather than the fuel excise.Verdict

 

Australians are not paying high petrol taxes when compared to other developed countries.– Vlado Vivoda

 

The big problem is our currency. After years of being stubbornly, immovably high, it is now the most flexible nymph, blown hither and thither by the winds of global markets.

(Source)

A lower dollar is wonderful where we can do import competition. Our farmers will love it. They can produce more, employ more people and make more profits. Likewise local retailers and local manufacturers.But Australia imports 91% of its fuel, according to a 2014 report by the NRMA. Even the share we refine here from imported oil is shrinking as we import more refined product.

 

[Tamara (Homes Down Under)]

Time to fill up!

 

RAA urges motorists to seek out petrol still at $1 a litre as prices start rising by 20c a litre

 

48 minutes agoThe Advertiser

 

 

After plummeting to $1 a litre, petrol prices are on the rise again.PETROL prices are surging by 20c/l at some service stations across the city, prompting the RAA to urge motorists to save money by filling up at those outlets still charging around $1 a litre.

The cost spike at the bowser is part of the petrol pricing cycle that saw ULP fall to 99.6c/l on average today.

RAA senior analyst Chris West said this was the lowest prices had been in a year and reflected the falling cost of crude oil in the past few months.

“Get in now and fill up,’’ Mr West said. “We haven’t seen all retailers move the price up yet so get in where you see $1 a litre or lower.’’

The RAA website showed Liberty at Richmond Rd, Richmond, and Mogas on Marion Rd, Netley, as among the cheapest sites. Each were charging 95.7c/l.