Petrol prices getting close to last year's record. What about your city or town?

Forums › Transport (cars, bikes and boats) › Petrol prices getting close to last year's record. What about your city or town?

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#2319467 17-Sep-2019 20:41

Local caltex hasn't moved today (already super cheap). And although the signs are in tonight (sign of another 10c day on the horizon) while using the standard 6 off, he didn't think his boss would be raising it.

So perhaps they have done the logical thing per above, abandoned (absorbed? hur) the 'discounting' and decided to keep status quo for a day longer to give the raw market some time to stabilise.

I just had to explain to someone online it was a PR nightmare last week raising it, discounting then lowering. Perhaps lesson learnt.

Meanwhile, NPD central has a wed/thur 15c off FB promotion still pushed (8c today, and holding at 2.25 for now)

sbiddle

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#2319560 18-Sep-2019 07:11

Oblivian:

Local caltex hasn't moved today (already super cheap). And although the signs are in tonight (sign of another 10c day on the horizon) while using the standard 6 off, he didn't think his boss would be raising it.

Nope the 10c super pumped day scheduled for today was pulled yesterday.

BP have a 10c deal today. Really surprised the AA aren't on the radio already complaining about a big petrol company putting the price up just to offer an extra saving today... Oh wait.

empacher48

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#2319561 18-Sep-2019 07:13

I see the price of Brent crude dropped 6% overnight, now only 2% higher than before the Saudi event. How quickly will it all come down again?

Handsomedan

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#2319576 18-Sep-2019 08:08

empacher48: How quickly will it all come down again?

Ha ha ha ha ha...you're good. You're really good.

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vexxxboy

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#2319593 18-Sep-2019 09:12

empacher48: I see the price of Brent crude dropped 6% overnight, now only 2% higher than before the Saudi event. How quickly will it all come down again?

Rotorua is back to 1.90 if that helps.

Common sense is not as common as you think.

DjShadow

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#2319598 18-Sep-2019 09:29

One News now reporting that full production will be restored by the end of the month and world oil prices have dropped on that news

kingdragonfly

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#2319659 18-Sep-2019 11:08

Just really shows our exposure by relying on totalitarian regimes.

We're on the "ring of fire"

17% of our energy is from geothermal.

It's dependable, with no reliance of rain or weather. I'd love to see more.

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tdgeek

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#2319667 18-Sep-2019 11:21

kingdragonfly: Just really shows our exposure by relying on totalitarian regimes.

We're on the "ring of fire"

17% of our energy is from geothermal.

It's dependable, with no reliance of rain or weather. I'd love to see more.

I read years ago that Geothermal is limited here, as the more they tap, the pressure drops. Is that not the case?

sen8or

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#2319678 18-Sep-2019 11:21

The price of crude oil (and subsequently petrol) rises rapidly on even the suspicion of someone passing gas in the middle east that might cause offense to an oil baron, but, if the price of crude drops, then there are always "external factors not linked to the price of oil" used to justify the near glacial melting speed of petrol price drops.

I'm sure the tin foil hat brigade will be pointing to "a source" claiming it was the oil company's themselves controlling the remote drones.....

wellygary

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#2319689 18-Sep-2019 11:47

tdgeek:

kingdragonfly: Just really shows our exposure by relying on totalitarian regimes.

We're on the "ring of fire"

17% of our energy is from geothermal.

It's dependable, with no reliance of rain or weather. I'd love to see more.

I read years ago that Geothermal is limited here, as the more they tap, the pressure drops. Is that not the case?

Not really, most modern schemes operate with fluid reinjection, so essentially they are extracting only the heat (and potentially the silica) from the system, not the liquid,

kingdragonfly

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#2319691 18-Sep-2019 11:52

tdgeek: I read years ago that Geothermal is limited here, as the more they tap, the pressure drops. Is that not the case?

I get the impression the deeper the drills, or the closer the magma is to the surface, the more reliable it is.

I read this article that suggested retrofiting abandoned oil bore holes for geothermal.

There is concerns about increased earthquake risks, much like fracking.

vexxxboy

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#2319756 18-Sep-2019 13:24

tdgeek:

kingdragonfly: Just really shows our exposure by relying on totalitarian regimes.

We're on the "ring of fire"

17% of our energy is from geothermal.

It's dependable, with no reliance of rain or weather. I'd love to see more.

I read years ago that Geothermal is limited here, as the more they tap, the pressure drops. Is that not the case?

it was in Rotorua , you will find now that all or most of the bores have been shut down within a 1.5km area of the geysers, which was over 300 bores, it stopped the decline of the geysers but they havent recovered.

Common sense is not as common as you think.

Oblivian

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#2320030 18-Sep-2019 22:33

Defending the changes pointed out here

http://nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12268905

based on global oil prices, exchange rates and how much it costs to buy new fuel to replace what's sold. But neither company had lowered their prices today despite global crude oil dropping more than 6 percent

kingdragonfly

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#2320058 19-Sep-2019 07:03

Have they actually bought new oil from Saudi Arabia? I 'd love to see the invoices.

Or are they holding NZ citizens hostages, because they are a monopoly, and there's nothing we can do.

sbiddle

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#2320067 19-Sep-2019 08:08

kingdragonfly:

Have they actually bought new oil from Saudi Arabia? I 'd love to see the invoices.

Or are they holding NZ citizens hostages, because they are a monopoly, and there's nothing we can do.

As much as I have issues with petrol prices I'll answer both questions for you.

Yes crude and refined product would have been purchased at higher prices as it enters the supply chain and is pumped into your car around 3 months from now.

There is no monopoly on petrol in NZ. The fact we have a 31cpl difference right now between petrol stations in Wellington shows how incredibly intense the retail competition is in New Zealand, and the fact significant amounts of petrol is being sold at a loss isn't something that happens in a monopoly.

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