Price of Oil

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tdgeek

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#2436495 11-Mar-2020 19:03

Yep. Pity is here in Godzone, most of our petrol price is tax, so a 50% drop means a 10% drop. But Ill take it, and the faltering economy due to COVID-19 can do with half a leg up right now.

Technofreak

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#2436516 11-Mar-2020 19:57

tdgeek:

Yep. Pity is here in Godzone, most of our petrol price is tax, so a 50% drop means a 10% drop.

Which highlights the governments folly of having an inquiry into fuel prices. They were on a hiding to nothing on being shown up as the biggest contributor to the high price of fuel.

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wellygary

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#2437586 13-Mar-2020 16:13

Looks like another 6-8 cents has come off Z's price this afternoon....

Z harbour city in wgtn are now advertising 91 @ 206.9 it was 214.9 yesterday

sbiddle

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#2437588 13-Mar-2020 16:24

wellygary:

Looks like another 6-8 cents has come off Z's price this afternoon....

Z harbour city in wgtn are now advertising 91 @ 206.9 it was 214.9 yesterday

Wow that's the margin between Wellington and Petone / Hutt sites drop from the 20-30cpl range a few weeks ago down to ~6cpl now.

Wheelbarrow01

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#2438345 15-Mar-2020 00:47

NPD Harewood (Christchurch) now down to 180.9c for 91, with the big 3 nearby down to 184.9.

Likewise, that same NPD is doing diesel for 110.9, with the big 3 being 4c more. The 30-40c diesel discount I used to enjoy from McKeown's with my fuelcard has all but evaporated over the past few months. Their discounted cardholder price is 104.9. I guess that means the competition from the likes of NPD and, more recently Waitomo, is actually working...

wellygary

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#2438378 15-Mar-2020 08:24

sbiddle:
wellygary:

Looks like another 6-8 cents has come off Z's price this afternoon....

Z harbour city in wgtn are now advertising 91 @ 206.9 it was 214.9 yesterday

Wow that's the margin between Wellington and Petone / Hutt sites drop from the 20-30cpl range a few weeks ago down to ~6cpl now.

Z appear to have lopped off another 7 cents a litre, Z harbour city now advertising 91 for 199.9 .. via gaspy (193 if you add their 6c discount)-

’m getting the distinct impression they have picked up the Saudi play book and are trying to drive some of the Discounters out of business

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PolicyGuy

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#2438385 15-Mar-2020 08:40

sbiddle:

wellygary:

Looks like another 6-8 cents has come off Z's price this afternoon....

Z harbour city in wgtn are now advertising 91 @ 206.9 it was 214.9 yesterday

Wow that's the margin between Wellington and Petone / Hutt sites drop from the 20-30cpl range a few weeks ago down to ~6cpl now.

Yes, the Great Wellington Area Price Spike Anomaly has nearly disappeared in the last couple of weeks.

It used to be that if you lived in Otaki, it was well worth your while to drive to Levin for your grocery shopping as you could save 20 to 30 cpl by filling up with petrol in Levin.
This morning's BP prices are 204.9cpl in Levin and 211.9 in Otaki, "only" 7cpl difference

Are the Commerce Commission doing a price survey or something?

Also, there's a Resource Consent for a Gull service station at Paraparaumu (right next to the railway station), so that should bring down prices there - it's 210.9cpl there this morning BTW

[prices from GaSpy]

Technofreak

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#2438421 15-Mar-2020 10:05

Is this thread about the price of oil which is the name of the thread or the price of petrol at the pump?

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bmt

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#2438564 15-Mar-2020 13:32

kobiak:

just out of the curiosity, I checked oil price vs petrol price in NZ yesterday

oil price, 2013 - ~$102 USD

petrol price, 2013 - $2.07 NZD

------

oil price, 2019 - ~$55 USD

petrol price, 2019 - $1.93 NZD

yay for government tax, regional tax, import tax, etc

So I absolute doubt we see price drop below $2 now... as it's 2.22 - 2.35 on average before discount in AKL :(

Don't forget inflation from your back of the envelope comparison. $2.07 in 2013 is $2.26 in Q4 2019.

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#2438633 15-Mar-2020 15:31

So has an enterprising Kiwi done an analysis on the price of Oil vs Pump and the time it took to be reflected?

wellygary

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#2438760 15-Mar-2020 18:52

networkn:

So has an enterprising Kiwi done an analysis on the price of Oil vs Pump and the time it took to be reflected?

NO need to reinvent the wheel, MBIE do a weekly set of figures that show Crude prices, Ex rate , taxes and pump prices etc

https://www.mbie.govt.nz/building-and-energy/energy-and-natural-resources/energy-statistics-and-modelling/energy-statistics/weekly-fuel-price-monitoring/

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wellygary

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#2439437 16-Mar-2020 16:37

wellygary:

Z appear to have lopped off another 7 cents a litre, Z harbour city now advertising 91 for 199.9 .. via gaspy (193 if you add their 6c discount)-

’m getting the distinct impression they have picked up the Saudi play book and are trying to drive some of the Discounters out of business

Now down to $194.9....

vexxxboy

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#2439447 16-Mar-2020 16:54

down to $173.9 in Rotorua

Common sense is not as common as you think.

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