May 4, 2011

Full up to here

Here's a nostalgic photo – diesel for under a dollar a litre
As usual, the oil companies have plausible reasons for the latest record fuel prices. They went up today by 3c/litre to a typical $2.22. Diesel prices, however, did not rise so at least some four-wheelers can feel smug. Evidently the cost of refined petrol has gone up 14 per cent in the last six weeks; the Japanese tsunami, trouble in Libya, winter demand in North America and the shutdown for maintenance of a big Singapore refinery are among the reasons given. Choose your favourites. So the oil companies have really been doing us a huge favour by holding off this increase for so long.

But wait, there may be less. By Friday, after crude oil prices dropped significantly worldwide, some oil companies were telling reporters that pump prices might soon drop.

And there was. On Monday May 9 the oil companies were rolling prices back. The reduced price for 91 octane is 2.159 cents, 2.229c for 95 octane. Diesel dropped to 1.579c. 

May 16: 91 dropped further to  just under $2.13 a litre, while diesel was just under $1.55 at some pumps and a cent more at others.

May 22: Another drop to 2.089 for 91 and to $1.519 for diesel; however, 91 was soon widely selling for 2.059, or even 2.039 if you were a Gull patron.

Jun 14: Oops, prices rose by up to three cents a litre taking regular back to 208.9c and diesel to 150.9. 

Jun 27: 91 octane goes down 2c a litre to $2.06 and diesel 5c a litre to $1.46. Most outlets are selling 91 for 203.9. The AA reckons it should be below $2.

Jul 12: 91 goes up to $2.10, diesel to $1.50. "Worry" about the financial stability of some Euro-zone nations is given as a reason. 

Aug 8: "A strong dollar" is credited for bringing 91 down to $2.04 but diesel – which went sown three cents a litre a few days prior – remained unchanged.

Aug 11: Another four cents off drops 91 to just under $2 a litre. Diesel drops three cents.

 Here's 4wdNewz's listing of fuel consumption of 4WDs with low-range gearing.

1 comment:

  1. John at WaitaraMay 5, 2011 at 4:22 PM

    Remember that 59% of the price of a litre of petrol goes in taxes