You probably don't want to hear this

[rrich]

Yesterday I purchased unleaded gasoline for $2.35 a gallon. I think that works out to almost $0.63 a liter.

Typically the North Eastern part of the US uses oil for heat. The fuel oil is close enough to be used as diesel. During this time of the year the pump price of diesel usually rises. Right now I've seen diesel priced about $1.20 more than unleaded.

The US and Canada have been doing a lot of "fracking" lately for both natural gas and oil. Also oil shale / sands have been contributing to the North American oil supply.

[artme]

Spot on Rich! We don't want to hear that!!!:no::no::no::D

I still shake my head when I hear or read of oil being used for heating!!! At least wood is renewable.

[bsrlee]

Just shows the same Corporate mentality - when you have the customers backed into a corner, jack the prices up. Doesn't matter if they freeze to death, there will always be new customers. The people who can't afford oil fuel are unlikely to be living in a home with a functioning wood fireplace, although the US and Canada do seem to have more ready access to fire-wood grade wood. Here it seems to be all pine or plastic.

[rrich]

Here it seems to be all pine or plastic.

Oh. Pine has to be ugly in the chimney.

[bsrlee]

Yep, plastic and burning wood = Dioxin. So if you see the local vermin with two heads you will know what has been going on :o

[Bushmiller]

The double act of "supply" and "demand" are two gentlemen with no compassion: Only a bottom line :(.

Regards
Paul

[Evanism]

The long term futures action is pointing towards a very low bottom for oil. You can see the regular futures trading here: http://finviz.com/futures.ashx

Usd$52 a barrel! Quite a few robots (The Algos) are pushing 48.... And 25!

I just paid $1.67 a litre to fill the beast. The lucky country! Always paying The Australia Tax.

Pessimist or Optimist? How will this help employment and the economy? Only the gods know. War? Russia? Saudi and our Chinese mates getting busy in the South China Sea of course....it's gonna create some "tension"!

Interesting times.... But we're still paying $1.67!

[Sturdee]

Interesting times.... But we're still paying $1.67!

Saw it today at $ 1.147 a litre at a local independent, no discount store vouchers needed.


Peter.

[Sir Stinkalot]

Saw it today at $ 1.147 a litre at a local independent, no discount store vouchers needed.


Peter.

Luckily I don't need to by petrol anywhere as much these days as I used to .... So I don't really keep too much of an eye on it but I did think I was lucky before Christmas to get it for $1.14 before discount vouchers ...... Now in the middle of the holiday break it is under $1.10 here before discounts ..... I always find a way to get screwed :)

[Bob38S]

Luckily I don't need to by petrol anywhere as much these days as I used to .... So I don't really keep too much of an eye on it but I did think I was lucky before Christmas to get it for $1.14 before discount vouchers ...... Now in the middle of the holiday break it is under $1.10 here before discounts ..... I always find a way to get screwed :)

Enjoy it while you can, unfortunately, if it goes on too long, our Treasurer will intervene as the government is losing revenue.

We wouldn't want those poor people who don't drive very far to get the idea they might just go on a driving holiday like they used to do, now would we.......:no: :doh:

[Evanism]

With 40 cents a litre in taxes and $15 billion on the line, I can guarantee any government will go after other sources... that $1 Trillion in super is looking mighty tasty.