...and if people are wonder why the price of petrol doesn't change much when crude oil price fluctuates, it's because about 85% of what you pay at the bowser is government tax. Most of which is a fixed rate per litre.
Also, I have written in other forums about the affect the high Australian dollar will have on the profits of oil companies here in Australia. It will also affect the cost of gold, iron ore and coal produced here as well, but that another story. Wait till we see the profit results in the next six months of all these companies, I don't think they will be too rosie ?
VPE Price at posting:
34.0¢ Sentiment: None Disclosure: Not Held
