I am paying 1.15 at the moment in Melbourne. I remember paying 1.60 when petrol was trading at over 100 dollars. My maths says we should be paying about 70c to 80c a litre depending on our dollar..
So you are correct that we should be paying less. Once again the Govt remains tight lipped and does nothing, because they are very happy to see higher prices. The more we pay for fuel the more they receive in taxes from the fuel that we pay.. Just more money they can waste. And boy do they waste it.
No wonder there is so little noise coming from Canberra.
But you would already know my feelings towards politicians if you have read my previous posts.
I put them on the same level as a used car salesman. I don't trust either of them.
Whilst on the subject of oil, conflicting views expressed by the so called experts on where they see it going in the short term. Plenty of good arguments on why it will go higher and plenty of good arguments as to why it will stay low.
At the end of the day does anyone really know. I think not.
I remember watching a documentary about 30 years ago telling us that the world would be running out of oil with the growing population in about 30 years time.
And to think back then there were hardly no cars in China. How many cars would be driving around in China today. Quite a few I would imagine.
And yet now we have so much oil they are providing us with a price war to get rid of the stuff. Reminds me of Woolworths and Coles selling their bread for 1 dollar.
Amazing is probably the only word that comes to mind.
But don't despair guys because it will eventually sort itself out. It always does. We will see the oil price back to 80 dollars in due course and those companies that are currently negotiating with LNG know this as well. They aint stupid, is what I am saying. But right now they would be licking their lips, because they do have the upper hand.
But patience is the name of this game. Whether we like it or not.
LNG Price at posting:
96.5¢ Sentiment: Buy Disclosure: Held
