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Petrol is cheap again....except in Australia

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On the weekend I was talking with my brother. I was saying to him, "Isnt it awesome that petrol is so low again"

"What do you mean?", he says to me "Its still $1.50 per litre."

Then today I see this article on NineMSN. Im shocked. When I first got to the USA 3 months ago, fuel was $4.20/gallon (or around $1.10/lt). At the same time in Australia it was $1.56/lt.

Now this morning I filled up and it was $2.70/gallon. Thats around 70c/lt...and thats for premium unleaded!

Lets work out that percentage. In the US it drops by nearly half. Ill let you work out the Australian percentage. How come it hasnt dropped by the same amount in Australia?...and dont tell me its the exchange rate...

Comments

  • Anonymous
    January 01, 2003
    PingBack from http://mstechnews.info/2008/10/petrol-is-cheap-againexcept-in-australia/

  • Anonymous
    January 01, 2003
    Anthony - sorry! Im not actually trying to Aussie bash...just wanting point out some interesting facts. Its interesting what you see when you leave...and just how much we are nailed in Australia. Simon - are you saying Im depressing or that its depressing Australia is not getting a fair deal? :) Im still sad I sold the Duke...but 1098's are very cheap here. :) Orin (and Duncan) - yep it was. But heres something for thought. The oil price has gone down by 2/3's yet the dollar has only gone down by 30%. That leaves at least 30% the difference. How come the petrol price has not gone down by a third? Hmmm...

  • Anonymous
    October 29, 2008
    You have become quite the Aussie basher haven't you! :) It is ridiculous though! I did fill up for $1.35 yesterday though...so it's coming down slowly. And..if the stations can do this: http://www.news.com.au/business/money/story/0,25479,24574998-5017313,00.html You know they are making way too much!

  • Anonymous
    October 29, 2008
    The comment has been removed

  • Anonymous
    October 29, 2008
    What was the dollar at when you left? I remember it being about 95 cents or so at that time. It is around 65 now.

  • Anonymous
    October 29, 2008
    The comment has been removed

  • Anonymous
    November 02, 2008
    Looks like you are right, I pulled the figures According to This:   http://www.eia.doe.gov/emeu/international/crude1.html and this http://www.x-rates.com/d/USD/AUD/data120.html 1 July 2008. AUD = 95.3 US cents Oil:142.72 USD (Brent/Barrel) = 149.75 AUD / Barrel 27 Oct 2008. AUD - 60.7 US Cents Oil:59.59 USD (Brent / Barrel) = 100.00 AUD / Barrel That having been said, according to the RACV website the average price in MelbourneThe prices around here are about 1.30/Litre - which is certainly down from the 1.65 it was, but isn't a 30% drop. Also, remember that traditionally US petrol prices come down around election time - so this time next week - you could be back paying Perth prices ;-)