priceofpetrolThe price of petrol I paid during October 2019 averaged $1.75 per litre for 91 Octane unleaded petrol add up to 15 cents more for 95 Octane petrol and usually up to 25 cents for 98 Octane petrol, location is Melbourne Australia.

Once again despite the Saudi Arabia bombing occurring in September and was repaired in  6 days the high prices for petrol continued basically throughout the whole month.  It is clear to me that there is quite a bit of unnecessary profit taking occurring. 6 days disruption does not equal a month of high prices not matter how sensible you calculate it. There should be plenty of stored petrol at various ports that are supposed to normalise petrol supplies when ever there is disruption. So clearly the companies are either dishonest about they claimed oil storage or ripping people off!

Note that price of petrol is supposed to be tied to the crude oil price in Singapore yet viewing the figures the price of crude in Singapore for November averaged 4 cents less than October. Once again high prices in November are not justified!

Note that fuel prices vary according to area, the level of competition and a whole heap of other factors like shopping discounts and so forth, however unreasonable high prices (relative to crude oil prices) is greed. Also note that the Octane level I post here represents Australian measurement which is different from those in other countries eg. US.

Share →