Price of fuel

[rando]

Ever wondered why; If about half the price of a litre of fuel is Fed fuel excise(Tax)
how come we pay GST on it.???? ??? ??? ??? ???

[Bosunsmate]

Cause its like cigarettes, its the governments financial lifeline....if they cut the excise and other taxes they would have to scab their pay packets from somewhere else.

The Johnny Eyebrow and the Australian government is the slowly turnig this country into a capitalist country......We should boycott the international suppliers and use our own crude...Australia has enough petrochemical grade crude to supply our own needs for in excess of 100 years. Truth is we don't need the towel-heads crude to survive.....(No offence meant to anyone) its the governbment being greedy as usual!

Imagine if we got 1/3 of that money back in road funding, the roads would be bloody brilliant.

[rando]

Costello is waving the big stick at the states for not cutting taxes (in exchange for GST) He should look at himself, Consider the thread on fuel cost in relation to fishing. Half that fuel cost is Fed excise. Yet we are charged GST on the whole cost of a litre of fuel , This is a Tax on Tax , what ever happened to "A FAIR GO"
My Two Bob for what its worth
Rando

[DaneCross]

Not to fear...

Petrol prices to ease across Australia
14:51 AEST Wed Apr 13 2005


Motorists can expect to pay less for petrol from next week as the cost of crude oil continues to fall from a record high.

The price of world crude has fallen by around $US7 a barrel in the last three weeks and economists believe Australian motorists could be paying up to seven cents per litre less at the petrol pump as a result.

New figures released show that the national average price of unleaded petrol rose by 1.8 cents per litre, or 1.7 per cent, to a record high of 108.4 cents per litre, in the week to April 10.

The data compiled by ORIMA Research on behalf of the Australian Institute of Petroleum also found that metropolitan average price rose by two cents a litre to 108.0 last week, with the regional average price up 1.4 cents per litre to 109.2.

And prices have continued to rise - with petrol prices hitting new records over the weekend and into this week.

In Sydney and Melbourne, prices of 116 cents a litre were recorded at the beginning of the week, while it was even higher in rural areas.



The NSW central coast town of Manning Point hiked prices to 155 cents per litre for unleaded fuel.

Commsec equities analyst Craig James said despite the 25 per cent rise in the price of crude oil in the past four months, petrol should start to fall next week.

"The oil price fell to a six-week low overnight, signalling relief for motorists," he said.

"Oil prices have been easing over the past week, and this is just another factor causing speculators to cut their bets on oil moving to $60 a barrel and higher," he said.

Mr James said the price of oil had fallen almost $US7 a barrel since April 4 when it reached a record of $US58.28, and, if sustained, Australian motorists will be paying six or seven cents per litre less for petrol.

"It takes about seven to ten days for changes in world crude oil prices to effect at the petrol pump," he said.

"So ... provided the price of crude is sustained at these lower levels then motorists should eventually see some relief at the petrol pump."

Fuel Trac - an independent consulting service to the fuel industry - believes petrol prices are likely to continue easing in coming weeks.

General manager Geoff Trotter said a pledge by the Organisation of Petroleum Exporting Countries (OPEC) cartel to increase production by 500,000 barrels per day would likely keep prices down.

"If the current crude oil price is sustained, there is a minimum four cents a litre reduction in the pipeline," he said.

"And if OPEC goes ahead with its increase in production in May, then a further reduction will be seen."

[SeaHunt]

Yep have to agree , little Johnny and smiling Pete are wandering around with a big fat budget surplus and talking about personal income tax relief. :-/
The problem is the people who benefit the most are the high income earners which includes themselves, they all have Govt. cars and don't pay for their fuel by the way. >:(
How about dropping the excise on fuel by 30c a litre and getting it back to a realistic price. The battlers with kids and 2 cars and people who have to travel a long way to work would benefit the most. 8)

Unfortunately there would probably be a backlash from the bicycle riding tree huggers who like high fuel prices. :P
Are we using twice as much now as when it was 60c a litre . Don't think so.

[ads]

Hi there,
I work in the oil and gas industry, and I believe the blame for the price you are paying at the bowser can be put fair and square onto the oil companies and also the scare mongers on wall street and the like.
It seems that if old GW farts in the wrong direction these day's, the stockmarket and oil futures go ballistic. These people are the main reason the price of oil is the way it is today.
About 3 years ago the oil co's were getting about 12-15 dollars a barrel. They will want to keep the high prices going as long as possible to recoup the losses they incured over that time (even though they still made a profit during those times).

Cheers
Ads

[ba229]

118.9c/L here in Newcastle at the moment for regular unleaded.

[devocean]

Fuel tax is massive. There will be no ease because it wont come down that much and who can blame the shop owners because the cut they get is shocking. Dont worry this increase in fuel will only lead to better alternatives in the future which is ultimately what we need.

[Bosunsmate]

I read of a process a while back that uses the theory of supply and demand to force the fuel suppliers to reduce their prices. It works through targetting a single supplier uinstead of overall multiple supplier boycotting. The process is quite simple and does not involve not buying fuel but by selective prefered supplier targetting.

It works by everyone using a single supplier for their fuel preferably the cheapest locally owned supplier and not using the other suppliers at all.

The used supplier will be encouraged to reduce prices as they are getting the bulk of the trade and the other suppliers will end up witha glut or oversupply in their tanks and little stock movement.

The suppliers not being used will be forced to bring prices down to the level of or below the level of the supplier being used and thus the start of a price war. Inevitably if the unused suppliers don't bring prices down they will eventually be forced out of business by the ones that do.

This process is based entirely on the Theory of Supply and Demand and as we all know, if there is no demand then there is no cash flow or need for supply and the product/business fails.

The process would work best if supported by a local radio station and newspapers where they support the supplier with free advertising media through the newpapers and electronic media. The assumption is that with suficient support from media the bulk of the local motoring community would also support it.

Unfortunately the independent service station owners not selected will be hurt but they will soon learn to obey the demand of motorists and lower prices accordingly and put pressure from their side on the oil companies.

We stand united in the Aussie spirit when we are confronted with tragedy and adversity through natural disasters, why can't we do the same when dealing with our everyday needs, it's about time we as a community stood up and let the Fed Government and the Oil Companies know that we are not happy with the fuel prices in this country and we want action.

[Morlers]

See this link for amount of excise we pay on fuel:
http://www.pm.gov.au/news/media_releases/media_Release624.html

As at 16/12/03 it was set at 38.143 cents per litre for petrol and diesel. I don't know if it was indexed after that so are unsure what current rate is.

:) :)

Morlers

[basserman]

In Sydney and Melbourne, prices of 116 cents a litre were recorded at the beginning of the week, while it was even higher in rural areas.



The NSW central coast town of Manning Point hiked prices to 155 cents per litre for unleaded fuel.

"
yep not too sure how they were allowed to rip people off like that! they said it was because they are a island and yet there is a road stright to them :-/
every where else around this area was more resonalble with something like $1.15 or something like that hell the most i paid for deso was $1.23!

[bluedog]

I filled the ute up yesterday $1.22 a litre if this price hike continues I won't be able to travel to work yet alone fishing.

[PinHead]

"The Johnny Eyebrow and the Australian government is the slowly turnig this country into a capitalist country"..I hate to tell ya..but..we have always been a capitalist country.