Here is the official guide to Diesel & Petrol pricing in Aus:
https://www.accc.gov.au/system/files/Fuel%20facts%20-%20International%20prices%20drive%20Australias%20fuel%20prices.pdfThe formula is in summary:
-the Singaporean refinery wholesale price
-shipping+ insurance+ evaporation costs
-Aus storage + wholesale margin + distribution costs
-Gov excise
-Retail margin + GST
Our pricing Achilles' Heel is that the Singaporean wholesale price
can be manipulated because that market is dominated by 2 Multinational
Oil Refiners and our ACCC is helpless to investigate because it is outside
its Jurisdiction.
As an electtion package deal in 1996, the Howard Government set the
wholesale prices of automotive fuels outside Aus at the request of Big Oil;
Singapore & Saudi Arabia.
This started the the domestic refinery rot . Up to then we were a net exporter of oil
and now we are about 90$ dependant on refined product.
Like other key segments of our economy, Multinationals control and obtain windfall
profits out oil market and at the same time minimise their Aus tax via debt loading
etc etc.
https://www.whistleblowers.org/tax-evasion-in-the-oil-and-gas-industry/RIO & BHP have been nailed by the ATO with combined fines of $1.5 Billion
for "Transferring Price" via their Singaporean Marketing Hub facilitated
by our Aus-Singapore Free Trade Agreement. The question now is that
FTA fit for purpose?
