re: 'petrol could go to $1.10 a litre
The price difference may well be related to the percantage of Petrol/ Ethanol mix, as this is a cheaper fuel. I paid $1.0295 this arvo for Premium Unleaded, the Standard Unleaded was .9795 cents, about 10% up on a few days ago. Indcor may well have hit the absolute jackpot in regards to their Ethanol venture, given the Venezuela strike - they could not have timed this any better even in their wildesd dreams. With fuel supply shortages a defenite possibility, the 20% Petrol-Ethanol mix as in NSW, could spill over to other states and even may have to exceed this level to stretch supplies. If you throw in an Iraq war scenario, which may not be over as quick as the US may hope for, who knows what can happen to the supply situation. Whilst ICO may have been an in/ out trading stock in the past for some, I make sure I'll have some in the bottom drawer for the long run. This now could turn out to be a defensive play.
