It's not IF we're getting conned; it's by how much.
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  1. #1
    Moderator Alan S's Avatar
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    Mar 2001
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    Queensland, Australia
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    It's not IF we're getting conned; it's by how much.

    Here's an article on current oil pricrs & expected rises from the US.
    Just divide everything connevted with their prices by 4.5 to get back to a comparative price per litre befor doing the conversion to A$
    Bit of an eye opener I would say just the same particularly when the time frame is considered.

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    Alan S

    "WASHINGTON - Gasoline prices are expected to climb steadily over the next three months because of high-priced oil and the unlikely prospect of significant supplies from Venezuela before summer, the Energy Department says.



    Still, the administration has given no indication it is ready to release oil from emergency reserves to counter tight supplies. The head of the department's statistical agency agreed Thursday it's "too close a call right now" to tap the government oil stocks.

    Gasoline prices nationwide are expected to average $1.54 a gallon by mid-spring, about 10 cents a gallon higher than this week's national average, according to the department's Energy Information Administration.

    Summer prices are likely to be even higher as fuel demand historically increases in June with the coming of the summer driving season. And the EIA said the shortage of crude and refined gasoline from Venezuela could cause regional price spikes.

    Such spikes already have been reported sporadically. The day after Christmas, gasoline jumped 16 to 20 cents a gallon overnight in several cities in Ohio and Kentucky. Some refiners on the Gulf Coast are asking for government reserves, fearing a shortage of crude to make gasoline...................."

    Source, Yahoo news.
    If it ain't broke, use a 12" shifter.....that usually does the trick!!

  2. #2
    Fellow Frogger!
    Join Date
    Jun 2001
    Location
    Sydney NSW Australia
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    137
    Alan

    Just one thing - the article would be talking US gallons. One US gallon = 5/6 of an Imperial gallon.

    So the conversion is 3.78 litres to the US gallon and if you use say 55 US cents to the $1Aus, $1.54 US per US gallon is equivalent to about 74 cents Aus per litre - still somewhat lower than here. Using a higher exchange rate, say a 'magic' 60 cents, converts to about 68 cents a litre.

    The difference of course is due to taxes.... [again]

    Denis

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