Crude oil prices decreasing

FatBoy · **November 10, 2014, 11:36:38**

As some of you know, I work in the Oil and Gas industry. Currently the world is experiencing decreasing crude oil prices. Will this result in lower bowser prices? I know that down here we have noticed that the price of fuel is less than what it has been.

Thankfully my employer is in a position to benefit from both increasing and decreasing fuel prices. Increasing prices in the fact that it encourages exploration further out to sea, and we have the helicopters to support that. Decreasing prices means that they want the most efficient helicopters to support the rigs, and we have the helicopters to support that too.

Shambles · **Reply #1: November 10, 2014, 11:38:10**

Our national broadsheets reported yesterday that we expect/anticipate fuel at our pumps to be around the £1/litre mark within 12 months.

Huh - I believe it when I see it.

asathorny · **Reply #2: November 10, 2014, 11:42:53**

eye30 · **Reply #3: November 10, 2014, 12:29:56**

Quote from: Shambles on November 10, 2014, 11:38:10

Our national broadsheets reported yesterday that we expect/anticipate fuel at our pumps to be around the £1/litre mark within 12 months.

Huh - I believe it when I see it.

It takes months to lower but hours to increase so not expecting it to reduce too much.... from £1.22/£1.24 pl

beerman · **Reply #4: November 10, 2014, 12:33:05**

The decrease in the price of oil I would suspect has been offset by the decrease in the AUD.

Hopefully the price of oil will continue to drop and we will see some reduction at the pump.

Asterix · **Reply #5: November 10, 2014, 17:48:11**

Prices are certainly going the right direction around here...

The last few months prices have been around this:

Diesel 1,82 AUD/0,99 GBP Petrol (95) 2,09 AUD/1,14 GBP

I think it's 2 years ago the prices were much higher:

Diesel 2,26 AUD/1,23 GBP Petrol (95) 2,52 AUD/1,37 GBP

CraigB · **Reply #6: November 10, 2014, 18:11:15**

Holy crap! you guy's have expensive fuel prices over there

ours have dropped slightly by around 10 cents a litre but I guess it adds up for us with everything being spread out further.

Tomorrows Perth fuel prices in the pic

eye30 · **Reply #7: November 10, 2014, 18:16:18**

Quote from: Asterix on November 10, 2014, 17:48:11

Diesel 1,82 AUD/0,99 GBP Petrol (95) 2,09 AUD/1,14 GBP

here diesel is dearer than petrol.......by 3p to 5p pl

Dazzler · **Reply #8: November 10, 2014, 21:41:14**

We've only seen about a 6 to 8c per litre drop in Northern Tassie ( all helps I suppose)

Going rate for 91 ULP is 152.9 (4c cheaper with shopper docket)

FatBoy · **Reply #9: November 10, 2014, 22:29:55**

I see that people on other forums are complaining because of the increase in excise of 0.5c per litre (or $0.005 per litre). This increase is insignificant compared to the normal market fluctuations. I saw one news report where the guy at the service station said that he would have to consider whether he could afford to run two cars with the increase of 40c per week!! I've also seen others drive an extra 10km to get a savings of 2c per litre. They need to revisit primary school maths!!

Surferdude · **Reply #10: November 11, 2014, 01:10:37**

Quote from: FatBoy on November 10, 2014, 22:29:55

I see that people on other forums are complaining because of the increase in excise of 0.5c per litre (or $0.005 per litre). This increase is insignificant compared to the normal market fluctuations. I saw one news report where the guy at the service station said that he would have to consider whether he could afford to run two cars with the increase of 40c per week!! I've also seen others drive an extra 10km to get a savings of 2c per litre. They need to revisit primary school maths!!

Couldn't have said it better..

#storminateacup

Dazzler · **Reply #11: November 11, 2014, 02:31:35**

Phil №❶ · **Reply #12: November 11, 2014, 09:26:33**

Won't happen for long. The Govt relies on excise revenue and if that falls, up goes the % to compensate. Or a new tax is created to compensate. The Emergency Services Levy, what a joke. It's skyrocketed here this year and considering it's a levy, it's here to stay. In the future expect to see these new taxes.

Air consumption tax.
Human methane contribution tax.
Rainfall levy.

You can't win.

FatBoy · **Reply #13: November 11, 2014, 09:56:37**

Good news, everybody!! I've just done my first full tank in my thumping V8, and the results are great!! 10.8 l/100km combined city/country driving. The ticketed figure is 12.3 l/100km, so I am very happy!! Fuel excise, ha!! I laugh at your rise!!

@Phil, I'm hearing you. The Government is always trying to raise revenue to pay for the things that it needs. As the costs of everything goes up, so must revenue. How do they do that? Why, by taxing and "levying" to raise money.

If people want the Government to provide services, then somebody must pay for them.

Doggie 1 · **Reply #14: November 11, 2014, 09:58:48**

Quote from: Surferdude on November 11, 2014, 01:10:37

Quote from: FatBoy on November 10, 2014, 22:29:55
I see that people on other forums are complaining because of the increase in excise of 0.5c per litre (or $0.005 per litre). This increase is insignificant compared to the normal market fluctuations. I saw one news report where the guy at the service station said that he would have to consider whether he could afford to run two cars with the increase of 40c per week!! I've also seen others drive an extra 10km to get a savings of 2c per litre. They need to revisit primary school maths!!
Couldn't have said it better..
#storminateacup

Dazzler · **Reply #15: November 11, 2014, 10:06:19**

That's great Jamie! My 6 is rated at 9 l/100 kms and I'm getting low 9's and that should improve with mileage.

Lakes · **Reply #16: November 30, 2014, 20:05:31**

Quote from: Shambles on November 10, 2014, 11:38:10

Our national broadsheets reported yesterday that we expect/anticipate fuel at our pumps to be around the £1/litre mark within 12 months.

Huh - I believe it when I see it.

Steve you said L? i thought you still use imperial measurement? like mile gallon inch so on?

Shambles · **Reply #17: November 30, 2014, 20:18:12**

Fuel is, for some reason, dispensed in litres.

I used to prefer paying by the gallon - you knew where you stood in them thar days.

Phil №❶ · **Reply #18: November 30, 2014, 21:39:51**

They use litres to soften the price hike blow to consumers, most of whom are now well trained, not to think.

diablo · **Reply #19: December 01, 2014, 01:20:52**

Quote from: Phil №❶ on November 30, 2014, 21:39:51

They use litres to soften the price hike blow to consumers, most of whom are now well trained, not to think.

Yep. When I first bought petrol it was 5 shillings and tenpence per gallon, which is about 32 pence in decimal currency.

Now it is £5.25 per gallon with the now lower price of £1.18 per litre.

That was quite a while ago (1967 or so) but that is a 16 fold increase. I can't think of anything else which has gone up at that rate. A pint of beer in a pub has gone up a lot - but only about 12 fold.

Good job I don't do many miles per year or I'd resent it quite a lot.

The Gonz · **Reply #20: December 01, 2014, 10:22:14**

Mixing litres with other imperial measures like mpg is ludicrous. It will be a wake-up call to so many Brits to realise how simple life is with decimal systems everywhere - I guess the currency already is: it's 100p to the &, isn't it?

Shambles · **Reply #21: December 01, 2014, 10:32:10**

Quote from: The Gonz

... it's 100p to the &, isn't it?

Talk to the hand

Phil №❶ · **Reply #22: December 01, 2014, 10:42:08**

Must be a Linux anomaly

£

The Gonz · **Reply #23: December 01, 2014, 10:45:38**

Quote from: Shambles on December 01, 2014, 10:32:10

Quote from: The Gonz
... it's 100p to the &, isn't it?

Talk to the hand

Is that the hand with tuffingers and thruffingers?

beerman · **Reply #24: December 02, 2014, 03:40:11**

Quote from: FatBoy on November 11, 2014, 09:56:37

Good news, everybody!! I've just done my first full tank in my thumping V8, and the results are great!! 10.8 l/100km combined city/country driving. The ticketed figure is 12.3 l/100km, so I am very happy!! Fuel excise, ha!! I laugh at your rise!!

@Phil, I'm hearing you. The Government is always trying to raise revenue to pay for the things that it needs. As the costs of everything goes up, so must revenue. How do they do that? Why, by taxing and "levying" to raise money.

If people want the Government to provide services, then somebody must pay for them.

I agree totally. We can start with a revenue tax on all money made here, I'm sick of paying Google and Apple's share.....

FatBoy · **Reply #25: December 13, 2014, 00:07:28**

Oil closed below $60 a barrel the other day. Interesting times. One of the reasons that I have heard at work is that the price is coming down to force the "small" operators out. Apparently shale oil cost $70 per barrel to produce, so it is not worth producing that.

The price will remain low until the little companies are forced out, then the price will go up again. Supply and demand. They oversupply, force the price down, force out the little guy, supply decreases, price goes up.

The Gonz · **Reply #26: December 13, 2014, 00:43:07**

In many other markets that practice is illegal.

Dazzler · **Reply #27: December 13, 2014, 01:12:10**

I am really pi$$ed off with the price of petrol in Tassie at the moment .. I saw unleaded all over Melbourne at $1.20.9 we are still paying 1.45.7 or more down here.. They reckon freight accounts for about 3c per litre..

Johnno · **Reply #28: December 13, 2014, 04:06:52**

Quote from: FatBoy on November 10, 2014, 22:29:55

I see that people on other forums are complaining because of the increase in excise of 0.5c per litre (or $0.005 per litre). This increase is insignificant compared to the normal market fluctuations. I saw one news report where the guy at the service station said that he would have to consider whether he could afford to run two cars with the increase of 40c per week!! I've also seen others drive an extra 10km to get a savings of 2c per litre. They need to revisit primary school maths!!

Must be related to my brother in law, he did that when we was going down south to Torquay, pulled off the motorway and he didn't have a clue where he was going, ended up driving along these county lanes looking for a petrol station for about 25 mins, I was running on fresh air by the time we found one, what a tosser

beerman · **Reply #29: December 13, 2014, 04:33:26**

Quote from: FatBoy on December 13, 2014, 00:07:28

Oil closed below $60 a barrel the other day. Interesting times. One of the reasons that I have heard at work is that the price is coming down to force the "small" operators out. Apparently shale oil cost $70 per barrel to produce, so it is not worth producing that.

The price will remain low until the little companies are forced out, then the price will go up again. Supply and demand. They oversupply, force the price down, force out the little guy, supply decreases, price goes up.

It is a battle between the traditional oil cartel and the new US shale fields. I suspect the traditional sellers are looking to knock out the competition, but I don't think the US is rushing to lose their self sufficiency (it makes the Middle East problems redundant). So I suspect the US will throw money to keep their oil fields alive, so the price stays down, but some of the new fields that were going to come on line, get mothballed due to being uneconomic and bingo increasing demand pushes up the price....