ASX Today, page-39833

Time to buy an EV vehicle??

I've actually seen petrol for $2.50 in Sydney.

"In short: The price of a barrel of crude oil is at a six-month high.Production cuts, conflict in Ukraine and the Middle East and China's improving economy are behind the lift.What's next? After a lag of several weeks, the cost of refined products like petrol will rise.Living in paradise has a price."There's a noticeable difference," says Mary Burke, who moved to the Kimberley region of Western Australia three months ago."Petrol is definitely quite expensive compared to down south ... and you can't really shop around and find a cheaper deal."But it's not just in Broome, in the north-west of WA, where consumers are feeling the impact of fuel prices.On top of a surge in rents, the interest rate on mortgages and food costs, fuel is one of the unavoidable costs of living. And global factors mean it's going up, up, up.New in the Kimberley, Mary Burke is feeling the price of fuel. "I fill up less," she says. "I'll do a half tank at a time instead of a full tank."(ABC News: Andrew Seabourne)Six-month highThe price of crude oil — which is refined into products like petrol — is at a six-month high.Nationally, the average price of a litre of unleaded petrol for the week to April 7 was 194.9 cents. (In Broome it's almost $1 more).The latest Australian Institute of Petroleum data noted differences between states due to price cycles and other market factors.This is the average cost of a litre of unleaded over the past week:NSW/ACT: 196.3 centsVictoria: 192.5 centsQueensland: 195.1 centsSouth Australia: 196.8 centsWestern Australia: 192.6 centsNorthern Territory: 205.9 centsTasmania: 201.1 centsBut a bigger issue is coming down the pipe. There's a two- to six-week lag between global crude oil prices and what you pay at the pump.So those recent surges in global prices are not reflected in what you are paying — but they will be soon." https://www.abc.net.au/news/2024-04-09/petrol-pump-pain-continues-rising-oil-price-war-economic-growth/103675780#:~:text=In%20short%3A,will%20be%20soon.