Posted on 03/23/2008 6:11:04 PM PDT by Flavius
ARROGANT oil companies realised they'd "gone too far" and allowed petrol prices to fall over the Easter long weekend, says a leading motoring group. The NRMA claims petrol prices rose between 15 and 20 cents a litre on the Thursday before the Easter long weekend, reaching an average of about $1.50 per litre.
Oil to stay below $110 a barrel: OPEC Oil to stay below $110 a barrel: OPEC Competition Policy and Consumer Affairs Minister Chris Bowen dismissed allegations that drivers were being ripped off, saying the price hikes were part of the weekly price cycle.
But motoring group NRMA disagrees, arguing that the cost at the bowser soared above the average weekly price cycle.
"We used to see the normal price cycle as being four to seven cents over the week, lately it's gone up to 10 cents but we've certainly never seen 15 to 20 cents as we saw on Thursday,'' NRMA president Alan Evans told ABC radio.
Mr Evans said the powerful oil companies reacted to the pressure they received over the rising costs and have now brought the prices down.
"I think the oil companies felt the shame and the pressure that they've got from the media for the behaviour on Thursday,'' he said.
"I think they outraged the public by the amount they increased their petrol on Thursday - you know, 15 to 20 cents right in front of people's eyes was just too much to bear.
(Excerpt) Read more at news.com.au ...
THANK YOU.
Where did you come up with that?
supply...demand...costs...yeah, yeah, got it.
Bingo, you and Sunny got it all right. Run for Congress as I am in the next election. We’ll all work 16 hours a day biting the *hit sandwiches, but we’ll fix it and then hold the crooks accountable.
Yeah, that'll help.
NOT.
I’ll take a new enlightened American brother of your all knowing seer, *hitty attitude any day of the week. Grow up and educate others if your so wise. I have been on this forum and have communicated with the President himself on such matters as increasing the supply and guaranteeing national survival. But do you see me skewing newly enlightened American’s? Go hide in a hole with your supreme guidance grand poohbah as responsible people regain this country and take the blows.
I look at it this way.
There’s an election coming up. Too many people who listen to the enemedia too much have no clue about ANWR, about the environMENTALists blocking any refineries being built, etc. The treehugger’s candidates are a hair away from controlling the government. If this happens, we WILL see gas lines, price caps, and a repeat of the Carter years.
We all hope that the republicans will allow drilling on our soil and work to build more refining capacity. But we all KNOW that the democrats will go all out to prevent this.
I’m just doing my part.
That'll help....
NOT.
(note to self...use 'preview')
There is no reason not to E&P ANWR but if it were brought on line next week, oil prices would drop no more than $5.00 a barrel.
We all hope that the republicans will allow drilling on our soil and work to build more refining capacity.
Your Republican Heroes controlled the Federal Government from 2001 to 2007 and elected to do none of the things you propose.
With their percentage margin of profit they should raise prices.
Sure it is. I doesn't take much marginal increase in supply to knock down the price. I take it economics isn't one of your strong suits.
and the purpose of it is for emergencies.
Watch all the owner-operators get run off the road, and you and your buddies will see a real national emergency.
If you aren’t aware of those simple facts, don’t post. You can devote that time to re-learning how to market FDIC foreclosures.
Come up with what?
iThinkBig - Calling me names hardly seems like an appropriate way to scold me for calling someone else a name, but if that’s your bag, go for it, I guess.
infantrywhooah - Sorry for calling you an idiot. I get a bit frustrated though when people on a forum that’s supposed to be conservative call for government regulation of the economy. It doesn’t work and never has; it’s an inherently destructive proposition. But welcome to Free Republic, and I mean it.
That the US can supply the world with what it wants.
“I am no fan of government getting involved in pricing but it seems like the petroleum industry could stand to see some regulation. Let’s face it, they have us over a barrel (pun intended)”
—
Do some research. Oil companies sell a LOT of barrels of oil. A little bit of profit multiplied by a lot of barrels equals a pretty hefty profit.
BUT, look at profit margin. Who makes the bigger margin? The oil company or the government. I’ll leave that to you to figure out.
The only thing that additional government intervention will do is force prices higher - is that your wish?
Not to be rude, but most people have no idea how heavily regulated the oil industry is.
Just try to get permission to build a pipeline, or build a refinery, or drill a well. Just try.
For that matter, just try to get permission to build a power plant, or any kind of industrial facility whatever, but thats a story for another thread.
Make it impossible to drill and refine here, and by definition imported oil is the only kind you’re going to get. Most of the world’s oil is in the hands of government oil companies as it is. Nobody has a dial big enough to set that price. Private oil is the exception in this world, and not the rule.
Why should gas prices come down as long as the American public keeps paying the prices? If I sold widgets for $5 and raised my price to $7 and my customers kept buying just as many if not more at the higher price, should I lower my price back down to 5 bucks because I ought to be a good guy?
The public is moaning, bitching and screaming about how much a fill-up costs. Yet they keep on driving as much as they ever did, maybe even more with summer coming up. The oil/gas nabobs of this world just keep smiling and pocketing their profits without even giving a thought to lowering prices. Would you?
I've cut my driving down in half through careful planning. No more running to the stores every day. Now I plan my trips like I'm planning the Normandy invasion. My fuel cost is way down each month as a result.
It's difficult for those who have to drive to work every day.....however, planning and consolidating evening and weekend driving can cut costs more that one would think.
If folks stopped buying my widgets at $7, I'd drop the price back to $5 in a real hurry. Until those of us who have been used to hopping into the car for every little thing start using the little gray cells, don't expect fuel prices to drop. The high costs have little to do with anything else but demand......we have to look in our mirrors and just say "no".
Too many people have been spoiled for far too many decades (kids joy-riding, dad driving to the corner store for one pack of ciggies, etc.) and unless we slake our driving thirsts a little, we shouldn't complain too loudly about the price of a tank of gasoline. Discipline will lead to fewer fill-ups and less headaches.
Leni
Everyone living in McMansions (which they can’t afford) and driving SUV’s has nothing to do with it right. Add in gov’t reformulations, no refinery expansion due to environmental laws, out of control gov’t spending and borrowing. Of course it’s the oil compainies fault ...
“If everyone would quit buying gas from ExxonMobile stations...”
I’m sure Exxon Mobil is also not worried.
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