fuel prices

[GasoLane]

Originally Posted by John G

Drivers cannot work more than 72 Hrs per week. Yes BFM lets them work 14 hrs days but they cannot exceed 72 hrs P/w. Yes, I know Ron Finemore.

OK, so cut it back to 14hrs a day for 5 days (or 12 hrs for 6 days) That's still gets you $2800 pw and there is no driver earning that legally.

[John G]

Originally Posted by GasOLane

OK, so cut it back to 14hrs a day for 5 days (or 12 hrs for 6 days) That's still gets you $2800 pw and there is no driver earning that legally.

Mate, I'm not sure on the stance you are taking here and I don't want to start trouble. I worked 58.5 hrs last week and grossed $2,482.73. You do the sums. It don't mean I'm smarter or better than you. You want to challenge Transport costs, I'm just adding the costs that I see every day in the Industry I am employed in. I know you're a driver also and mean no disrespect. This is why when blokes get into the fuel game they very rarely go back to Line haul work. Have a chat to some of the Toll guys at Wagga that used to work for Ron F.

[ford man xf]

John G people will look at the gross figure and proclaim how good you truckers have it, the reality is once you take away your operating costs (being a contractor) which includes overly priced diesel and all the crap you put up with other motorists and the anti truck movement, people then start to see it's not that easy being a truck driver, I know the truck drivers at my old job didn't have it as easy as some people thought.

[mik]

my local caltex, melb north, still $ 1.159 who hoo .

[uniacidz]

Sunday night

Late night price.

Sorry guys.

[John G]

Great price, bet you wish you had a bigger tank?

[Itsme]

Apco servo Geelong Newcomb, 123.9 diesel, I'm happy with that.

[mik]

Just watched the news, for us Mexicans rego is going up, electricity is going up, public transport going up ......... if they don't get you with the the go juice........ they will get you another way.

[GasoLane]

Originally Posted by John G

I worked 58.5 hrs last week and grossed $2,482.73

I stand corrected, it seem that I do know someone who earns that kind of coin.

[Hell Cat]

My job (oil and gas drilling) is on the line because of the oil price drop.

X3 of our rigs have already been decomissioned.

[Struggo]

Originally Posted by Hell Cat

My job (oil and gas drilling) is on the line because of the oil price drop.

X3 of our rigs have already been decomissioned.

Fingers crossed Hell Cat.

[Bent8]

Crude at $52.70/barrel and dropping.... was $55.50 this time last week.

We haven't seen the bottom yet....

[oxmo]

Originally Posted by Bent8

Crude at $52.70/barrel and dropping.... was $55.50 this time last week.

We haven't seen the bottom yet....

This is the part I am struggling to understand.
The price for a barrel of oil was almost double what it is now not that long ago.
Yet the price for petrol has only slightly dropped, how can this be???

[Windsor220]

Originally Posted by oxmo

This is the part I am struggling to understand.
The price for a barrel of oil was almost double what it is now not that long ago.
Yet the price for petrol has only slightly dropped, how can this be???

The Aus dollar has gone down so it has offset it a bit. That and the fuel stations take a while to adjust.

I wouldn't say its slightly dropped though. We were paying $1.50 a litre at one point and tonight I paid $1.15. That's a fair bit of a drop

[Bent8]

Originally Posted by Windsor220

The Aus dollar has gone down so it has offset it a bit. That and the fuel stations take a while to adjust.

I wouldn't say its slightly dropped though. We were paying $1.50 a litre at one point and tonight I paid $1.15. That's a fair bit of a drop

Yep, usually on fuelwatch, the prices peak on Thursday's and start to drop 2 cents every day after that... just checked it now and there will be a 4 cent drop tomorrow !

$1.27 for BP98

[oxmo]

Originally Posted by Windsor220

The Aus dollar has gone down so it has offset it a bit. That and the fuel stations take a while to adjust.

I wouldn't say its slightly dropped though. We were paying $1.50 a litre at one point and tonight I paid $1.15. That's a fair bit of a drop

If you you pd 1.15 than you did well or you were lucky or both.
Anyways lets keep a watch out for what happens...

[draxx]

Love having LPG below 60c/l again - shame it took a whole year to get back to these prices

[oxmo]

Originally Posted by draxx

Love having LPG below 60c/l again - shame it took a whole year to get back to these prices

Could you tell me how much mileage you get out of LPG?

I have no experience using it and am curious.
I know that the Taxi's all used to use it but they seem to mostly be concentrating on the Camry H these days.

[draxx]

Purely around town driving I get about 700-750 kms out of 90l and around 850-900 for long distance. At today's price costs about $55

[eyes87]

Paid 1.54 for bp premium yesterday. Ultimate in the city is at about 1.65 from memory. It was before Christmas last time I was there though. Love tassie prices.

[ford man xf]

So can anyone say with certaintity to why petrol prices vary so much in some states, even 30km's from one petrol station another one costs either more or less, people in rural areas seem to be getting stung more than city dwellers? Is it purely transport costs?

[GTPete]

Transport, load sizes/tank capacities, base buying price, credit terms, selling margins they are all variables.

[draxx]

Not to mention what they think they can get away with selling it for

[baboon]

First time in a while I've seen Diesel lower then Unleaded 91.

This arvo at the local Apco, Diesel is 108.9 c/L and 91 unleaded is 112.9 c/L. Gas is still 59.9 c/L...

Fuel just keeps going down down down....

[ford man xf]

And yet the banking sector is regulated the petrol sector isn't. I know the banking sector is regulated to prevent financial collapse, surely the petrol sector accounts for a large part of the Australian economy.

[bobthebilda]

Originally Posted by oxmo

This is the part I am struggling to understand.
The price for a barrel of oil was almost double what it is now not that long ago.
Yet the price for petrol has only slightly dropped, how can this be???

Dont forget the government gets around 45 cents per litre because its called petrol. Even if the Saudis gave their oil away for free, you would be lucky to get petrol for under 60 cents a litre, because that 60 cents is locked in (due to excise, gst, transport costs, wages, infrastructure costs etc), regardless of oil prices.

[ford man xf]

Iran's Rouhani says countries behind oil price drop will suffer

Iranian President Hassan Rouhani said that countries behind the fall in global oil prices would regret their decision and warned that Saudi Arabia and Kuwait would suffer alongside Iran from the price drop.

"Those that have planned to decrease the prices against other countries will regret this decision," Rouhani said in a speech broadcast on state television as oil plunged to near six year lows on international markets.

"If Iran suffers from the drop in oil prices, know that other oil-producing countries such as Saudi Arabia and Kuwait will suffer more than Iran," he added.

What's behind the oil prices fall?

............Iran's Rouhani says countries behind oil price drop will suffer

By By Michelle Moghtader | Reuters – 12 hours ago
....
Share1Print.....
Global oil prices have slumped by almost 60 percent since June.Iranian President Hassan Rouhani said that countries behind the fall in global oil prices would regret their decision and warned that Saudi Arabia and Kuwait would suffer alongside Iran from the price drop.

"Those that have planned to decrease the prices against other countries will regret this decision," Rouhani said in a speech broadcast on state television as oil plunged to near six year lows on international markets.

"If Iran suffers from the drop in oil prices, know that other oil-producing countries such as Saudi Arabia and Kuwait will suffer more than Iran," he added.

Also read: Oil falls to its lowest in six years

What's behind the oil prices fall?



Oil prices have fallen 60 percent from their June 2014 peaks, driven down by rising production, particularly of U.S. shale oil, and weaker-than-expected demand in Europe and Asia.

Earlier this month, Iran described Saudi Arabia's inaction in the face of the six-month price slide as a strategic mistake, but hoped that the kingdom, Tehran's main rival in the Gulf, would respond.

On Tuesday, Rouhani singled out Kuwait and Saudi Arabia's budget dependency on oil exports.

Data showed that 80 percent of Saudi Arabia's budget is based on oil sales, while in Kuwait the figure stands at 95 percent, he said in a speech in the city of Bushehr.

Also read: 'Blame the US for oil price fall, not OPEC'

In 2013, oil accounted for roughly 90 percent of Saudi Arabia's overall budget income and Kuwait at 92 percent, according to Reuters' calculations based on official data.

On the other hand, only one-third of Iran's budget is based on oil sales, with an estimated 60 percent of the country's exports tied to oil, Rouhani said.

Due to Western sanctions on Iran over its nuclear program, Iran's oil exports have dropped from 2.5 million barrels a day in 2011 to about 1 million barrels per day on average, according to the U.S. Energy Information Administration (EIA).

Iran had adjusted to the drop in exports due to higher oil prices, but that buffer no longer remains today.

'Output won't be cut'

............Iran's Rouhani says countries behind oil price drop will suffer

By By Michelle Moghtader | Reuters – 12 hours ago
....
Share1Print.....
Global oil prices have slumped by almost 60 percent since June.Iranian President Hassan Rouhani said that countries behind the fall in global oil prices would regret their decision and warned that Saudi Arabia and Kuwait would suffer alongside Iran from the price drop.

"Those that have planned to decrease the prices against other countries will regret this decision," Rouhani said in a speech broadcast on state television as oil plunged to near six year lows on international markets.

"If Iran suffers from the drop in oil prices, know that other oil-producing countries such as Saudi Arabia and Kuwait will suffer more than Iran," he added.

Also read: Oil falls to its lowest in six years

What's behind the oil prices fall?



Oil prices have fallen 60 percent from their June 2014 peaks, driven down by rising production, particularly of U.S. shale oil, and weaker-than-expected demand in Europe and Asia.

Earlier this month, Iran described Saudi Arabia's inaction in the face of the six-month price slide as a strategic mistake, but hoped that the kingdom, Tehran's main rival in the Gulf, would respond.

On Tuesday, Rouhani singled out Kuwait and Saudi Arabia's budget dependency on oil exports.

Data showed that 80 percent of Saudi Arabia's budget is based on oil sales, while in Kuwait the figure stands at 95 percent, he said in a speech in the city of Bushehr.

Also read: 'Blame the US for oil price fall, not OPEC'

In 2013, oil accounted for roughly 90 percent of Saudi Arabia's overall budget income and Kuwait at 92 percent, according to Reuters' calculations based on official data.

On the other hand, only one-third of Iran's budget is based on oil sales, with an estimated 60 percent of the country's exports tied to oil, Rouhani said.

Due to Western sanctions on Iran over its nuclear program, Iran's oil exports have dropped from 2.5 million barrels a day in 2011 to about 1 million barrels per day on average, according to the U.S. Energy Information Administration (EIA).

Iran had adjusted to the drop in exports due to higher oil prices, but that buffer no longer remains today.

'Output won't be cut'



The United Arab Emirates energy minister repeated that the Organisation of the Petroleum Exporting Countries (OPEC) would not cut output to support prices.

Saudi Arabia and other wealthy Gulf Arab countries have accumulated hundreds of billions of dollars of reserves due to high oil prices over the years.

Saudi authorities appear confident they can ride out the market slide, with state spending set to hit a record this year.

https://au.finance.yahoo.com/news/ir...085112635.html

[Simple6]

Down to $1.45/L here for diesel and unleaded here at the moment. LPG still at $1.159/L or so.

It's been gradually dropping. It was up at $1.80/L in November, then $1.65/L in mid December. So hopefully the price of oil stays low long enough for our slow service stations to keep dropping the price to something realistic. Judging by the way it took so long for prices to come down I'm sure they were hoping it was a short lived drop and they could just maintain their prices, but have started to now cave.

[Focusfan]

Originally Posted by Simple6

Down to $1.45/L here for diesel and unleaded here at the moment. LPG still at $1.159/L or so.

It's been gradually dropping. It was up at $1.80/L in November, then $1.65/L in mid December. So hopefully the price of oil stays low long enough for our slow service stations to keep dropping the price to something realistic. Judging by the way it took so long for prices to come down I'm sure they were hoping it was a short lived drop and they could just maintain their prices, but have started to now cave.

When you look at those prices it means they are trying to charge you about $0.40 p/l for transport costs.
Work that out for a tanker capacity and see how their profit levels are.
There is an enquiry on at the moment regarding pump prices so get receipts as if proven a rip off you may be able to
join a class law suit against them eventually. Maybe that is.

[ford man xf]

How Much Oil is Left and How Long Will it Last?

How much oil is left?

In June, BP provided an intriguing update to its global oil reserves estimates in the company's yearly review of energy statistics. It raised its reserve estimate by 1.1% to 1,687.9 billion barrels – just enough oil to last the world 53.3 years at the current production rates.

According to the Institute of Mechanical Engineers, there are 1.3 trillion barrels of proven oil reserve left in the world's major fields, which at present rates of consumption should last 40 years.

However, the organisation also emphasises that by 2040, production levels may be down to 15 million barrels per day – just 20% of what we currently consume. By that time, it is probable that the world's population will be double what it is today and much more industrialised, and therefore oil dependent.
What part do new technologies play?

There is likely to be more oil left in the tank beyond what BP estimates, however, according to oil companies.

A large portion of the growth in global oil reserves in the BP report comes from the United States. BP estimates that the US has 44.2 billion barrels of oil reserves, around 26% higher than it previously thought. The US Energy Information Administration, meanwhile, increased its estimate to 33.4 billion barrels of reserves – just 15% more than previously estimated.

But why is there a surge in oil reserves? Shale oil, an unconventional oil produced from shale rock fragments, is being discovered through horizontal drilling technology. And with the discovery of this method, it should boost gains in reserves over the next decade – stretching out BP's 53.3 year estimate.

The challenge facing engineers extracting shale oil is that currently, it is so difficult to get at that it actually takes more energy to extract than it gives back in use. In shale formations, natural gas molecules are stuck to the rock and must be detached before they will flow to the surface – an intricate and expensive process.

The rising cost of oil has also forced governments and oil companies to exploit previously marginal sources of oil from difficult locations, such as the deep sea.

Since North Sea oil first became a source, 36 billion barrels have been extracted. Yet it is hampered by a worldwide shortage of essential equipment such as rigs and support vessels.
Where are the major oil reserves?

The largest remaining reserves are in Saudi Arabia, which has around 261.8 billion barrels, followed by Iraq, which has an estimated 112.5 billion. The United Arab Emirates has 97.8 billion and Kuwait has 96.5 billion, with the fifth largest reserve in Iran, which has around 89/7 billion barrels.

In comparison, the North Sea has around 4.9 billion barrels remaining – a fraction of the reserves in the Middle East. New discoveries are being made, however, and Brazil recently discovered a new field with an estimated five to eight billion barrels. Such finds are rare.
Have we gone past the point of maximum oil production?

There is a debate between "peak oil" theorists and oil companies surrounding Earth exhausting its supply of oil. What is clear is that oil is getting harder to extract, which is reflected in rising prices. A barrel worth $10 in 1998 now costs over $135.

The effects are wide-reaching, affecting road, aviation and shipping – and sending the commodity cost of staple foods, such as rice and wheat, soaring. The fuel used to harvest the food has doubled over the last 12 months.

In response to the rising costs and environmental concerns, scientists are looking further into new ways to create renewable energy without fossil fuels. Burning fossil fuels produces around 21.3 billion tonnes of carbon dioxide per year, and only half of that is absorbed by natural processes. The result is catastrophic, increasing global warming and causing the average surface temperature of the planet to rise.

Last year, the BBC reported that scientists discovered a new way to split hydrogen from water using rocks – a potentially new green energy source. More research is being done to expand the use of energy from sunlight, wind, tides, waves and geothermal heat to reduce reliance on fossil fuels.

http://www.ibtimes.co.uk/world-energ...t-last-1471200