Wow! Prices.

[Gary Parker]

Al - you are probably right for the market conditions that apply to your massive oil and petrol production sectors in the US and particularly because the bulk of your crude oil supply comes from domestic sources.
My comment from many months ago was from my experience of the much smaller Australian market where nearly all of our crude oil is imported from "unfriendly" countries several weeks sailing time away from us on mostly negototiated "futures" contracts. We also have limited refining capability when it does arrive in Australia which adds to the time to get the finished petrol product to consumers.
Price gouging is an art form in the Australian petrol market with the base price routinely fluctuating from day to day, week to week, city to city and even suburb to suburb.
Even our Goverment gouges - the current fuel excise of 44.2 c per litre of unleaded petrol is to be reinstated soon after we enjoyed a brief period of a 50% excise reduction to assist us with the initial petrol price shock !
Kind regards
Gary

 

[Al Hobbs]

Al - you are probably right for the market conditions that apply to your massive oil and petrol production sectors in the US and particularly because the bulk of your crude oil supply comes from domestic sources.
My comment from many months ago was from my experience of the much smaller Australian market where nearly all of our crude oil is imported from "unfriendly" countries several weeks sailing time away from us on mostly negototiated "futures" contracts. We also have limited refining capability when it does arrive in Australia which adds to the time to get the finished petrol product to consumers.
Price gouging is an art form in the Australian petrol market with the base price routinely fluctuating from day to day, week to week, city to city and even suburb to suburb.
Even our Goverment gouges - the current fuel excise of 44.2 c per litre of unleaded petrol is to be reinstated soon after we enjoyed a brief period of a 50% excise reduction to assist us with the initial petrol price shock !
Kind regards
Gary

No, I can't speak to the Australian petroleum market.

On my trips to Australia it was obvious to me that prices for just about everything were higher than in the USA. I thought it must be a supply issue as so much had to be imported.