Brent crude price per barrel is $105 so dropping on the daily price, but still up 45% on the year, world trend is downwards, but who knows when the Australian price influencers will allow the pump prices to go down substantially, may need an inquiry as to how they absorbed the 22 cents excise into profit for them, rather that any relief for motorists. I'd like to see that!
Fuel Price
- Thread starter Russell Hall
- Start date
I was just saying the same thing to some work colleagues yesterday.
Hi. On a litre by litre basis maybe. But a litre of diesel has 10% more calorific (or heating) energy than a litre of petrol. So other than taxes and other marketing forces, you are getting more bang for your buck.
Cheers.
Bulk diesel down to $2.14 this month. Still a good margin. Don't know if its imported or from Viva Geelong, the refinery gets in trouble with the EPA because it's too old and puts out gases. Biggest tankers can't get into Port Phillip.
If they can get a 105,000 tonne Container ship through the heads and up the bay I can't see why it's a problem for tankers, after all, it's why we deepened the channel and The Heads. Click here: Big Ship and Port Phillip
Who doesn´t, when you get to this age.
They have very large mr tankers that are often sea loaded. Portland is the only deep water Victorian port. Tankers have a deeper draught than a container ship.
The ship in the link I posted is by no means the largest ever to arrive in Melbourne but around 3000 others do annually including all kinds of tankers! That's around 58 per week. Many of the super-tankers have been broken up because they are so restricted in where they can go. We used to have a BP terminal in another deep water port, Westernport which was to be (and still might be) the marine transport hub for Victoria. If we need more oil, Port Phillip has the capacity to unload it.
Maybe so but Port Phillip just can't take very large ships even with channel deepening. No mr tanker could come in and some of the smaller ones would be risky. They have a deeper draught than container ships and squat under way. Port Phillip is not a deep water port. Portland remains Victoria's only deep water port and it is used to top up grain carriers partly loaded in Geelong.
Size isn't everything, Russel, it's the way you use it. Haven't you learned that yet?
Shipping costs for oil as well as for other freight have tripled in the last two years.
Actually tankers had it really crappy until earlier this year. The forecast in January was still bleak then something happened in late Feb this year that created a boon for tanker (and insurance) rates.
As per the attached Jan 2022 report "2021 was the worst year for tankers in the past 3 decades.
How low can tankers go? Analysts slash rate forecasts (again)
Shipping analysts rethink outlooks on crude and product tanker rates: already grim market appears even grimmer.
www.freightwaves.com
OilPrice.com cites the daily rate for a 200,000 barrel tanker at $US165000 compared to $65000 last year.
Correct but that only happened since Feb this year, not over the past 2 years. As the Jan 26th article I attached to my previous post indicated, this year wasn't shaping up to be a whole lot different at that point in time. Who knew there would be a"war" looming to change the prediction only a few weeks later?
Some people were using the tanker transport costs last year as reasoning for high fuel prices, which was just smoke and mirrors..
The tripling of container freight costs made the headlines and some just decided to apply that figure to all sea freight. The reality was tanker transport costs (and bulk carriers) were in their boots until the past 5 months.
Considering that tanker can hold 32 million litres of oil, the extra million dollars for a ten day journey would add 3 cents per litre to the cost.
The problem is that tankers are now being sent on three month journeys because of trade dislocation.
Fuel prices dropped roughly by the 22c saving, the day after the excise cut started on Mch 29.
It's all there in publicly available data. For those who are interested in facts, which, of course, some are not.
Nothing like a recession to bring demand down and fuel prices with it.
Coffs Harbour diesel $ 2.06 Bonvil sth of Coffs $ 2.02 Coffs is usually the high point betweenTweed and Sydney a bit different from $2.70 i pais at Uluru a mth or so ago
Brent crude price. USD per barrel
| 09/08/2022 $96.50 | Up 1.7% on the day | Up 37% on the year |