Was it me or did petrol just go up?

Forums › Off topic › Was it me or did petrol just go up?

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muppet

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#1323140 12-Jun-2015 07:36

I hope it did.

Audiophiles are such twits! They buy such pointless stuff: Gold plated cables, $2000 power cords. Idiots.

OOOHHHH HYPERFIBRE!

Batman

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#1323144 12-Jun-2015 08:04

All nonsense. Raw petroleum is half the price of what it used to be and we're now passing the same as what we did when it was twice the price. Problem is if raw petroleum rises to what out was ie twice of what is it .... !!!

vexxxboy

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#1323208 12-Jun-2015 09:12

it went up 30 cents a litre at the Pak n save in Rotorua, i know they were heavily discounting it but to find one day you were paying 1.74 a litre and then the next day it's 2.04 is a big hit on the wallet.

Common sense is not as common as you think.

nzkiwiman

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#1323266 12-Jun-2015 11:16

I read somewhere that all the big discounting that was happing in the upper North Island was ending ..

In Dunedin, petrol went up, down, up over the last week and is now $2.089 for 91

old3eyes

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#1323350 12-Jun-2015 13:10

Saw this monring that the kiwi $$ could go as low as 60USc by the end of the year. If that happens expect the price of gas to go to something like $2.70 / liter..

Regards,

Old3eyes

lxsw20

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#1323352 12-Jun-2015 13:12

I got some US currency on a cash passport today at .6842

richms

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#1323353 12-Jun-2015 13:12

If that happens expect worse price increases on things that matter like electronics and pcs

Richard rich.ms

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richms

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#1323355 12-Jun-2015 13:12

lxsw20: I got some US currency on a cash passport today at .6842

Yeah but cash passport has always sacked for rates.

Richard rich.ms

lxsw20

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#1323359 12-Jun-2015 13:19

From what I could find, that was one of the better rates, but yes you don't exactly win on the deal. If you know of a better way I can change my $$ in to GBP and USD except for cash I'd love to know.

ghettomaster

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#1323383 12-Jun-2015 13:45

I have asked similar questions about this myself in recent months and so I did a little digging.

I first started watching petrol prices when I started to reach driving age around the turn of the century, and I remember when it was as low as 81c per litre, and even 78c in some areas. I even remember the CEO of Challenge promising they would never let it go higher than $1.00. I also vaguely remember crude prices back then used to be around the $50 US mark, but my memory of this is not so clear. Why I didn't choose to own a V8 back then I'll never know!

When I saw crude getting back down around the $US50 mark this year, I hoped we would see the retail price at least return to the $1.20 mark, but it stayed up around $1.70. This was surprising, especially considering those low prices were back when 50c was the rule of thumb for converting $US to $NZ as opposed to todays 75-80c. These two factors alone should mean a retail price much lower than what we are paying.

However, the real issue is tax and the fact that we pay a lot more on our fuel than we did back then. The end result is a large percentage of the difference between the $2.00 of today and those sub-$1.00 prices is tax, not the skyrocketing barrel price that has occurred in the same time.

As an aside, is it right that we should be taxed so much on our fuel? Personally I think so. I also think that tax needs to be ring-fenced for road infrastructure spending, and thanks to lobbying by the AA, it now is. If we have a look at the US at the moment, they have big problems with neglected infrastructure and there are some scary reports coming out regarding the number of dangerous bridges they have and how their existing roads are being neglected. If we can keep from having the same problems here I'm happy to pay for that.

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