Quote:
Originally Posted by Talkwrench
WE are getting close to $1 [AUD] a litre here in Perth, Western Australia. But its a joke as not long ago the barrel price was well over $100 pretty sure it was more like $110. and our cost was around the $1.50 a litre mark .Now the barrel price is well under $50. so we should have been around the 80c a litre mark. Fuel company's rise by the next day if prices go up , if they come down pfft! they do what they want. Our ACCC [anti corruption]here is a toothless tiger.
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Well with your gas taxes at 60%+ of the purchase price cutting the price of the gasoline commodity part wouldn't change the total very much . As usual the real profiteer is the government which makes more by far the world over than oil companies. BTW worked for XOM for 32 years.
Lowest I saw it was as a kid in the 60s at Tenneco stations in central Florida for 23.9ct/gallon. $1.50 to fill up a 6 gallon boat motor tank. I remember thinking 59ct a gallon was robbery during the first Arab boycott in the 70s. My 1980 VW diesel burned 99ct a gallon. That was the high point for gasoline $$ for me as when I retired in 20101 I was making 6x what I was in 1980.