Australia's largest stock trading and investment forum Australia's #1 stock forum

I worked for an oil major for eight years; I'm well aware of how...

First 26 Last

Share
Profile

Follow
Lomu

15,421 Posts.

37

01/02/20

14:09

Post #: 42691888
Share

Originally posted by JCoure ↑

Most of the gasoline price at the pump in Australia is excise tax, and tax related. All the excise taxes pays for people like the Prime Minister $549,250 AUD per year, the Treasury Secretary $433,000 AUD per year, all their public servants, enormous amounts of staff, just overpaid and fiscal waste, can't control immigration etc.

The way the oil price works and the tax works, it is hard to see how the price of gasoline, leaded and unleaded for most motor vehicles will ever go below $1 AUD per liter (metric system) in Australia ever again due to how the Singapore price is calculated, transportation taxes, minimum wages for "petrol" gas station staff and the excise tax.

In America, we pay about 70c in AUD equivalent per liter if you strip the gallons to liters and change the conversion of the currency at the cross-rate. In England, it can be more expensive to drive in gasoline (petrol) costs but if you consider the price of insurance, lower personal income tax rates in England, lower medical bills, car tax and do not drive into central London where there is a congestion tax, it could be argued that driving in England is roughly the same price if not cheaper than Australia.

Expand

I worked for an oil major for eight years; I'm well aware of how the industry operates.
1 Upvote

Reply

There are more pages in this discussion • 18 more messages in this thread...

First 26 Last