How good are gas prices right now?

snwtoy · Post by **snwtoy** » Tue Dec 30, 2008 1:32 pm

Freakin incredible, right now they're only a 3% pa increase over what they were 4 or 5 years ago!

Crazy! Bring on summer cruising!

1I1 · Post by **1I1** » Tue Dec 30, 2008 1:58 pm

Not as low as they should be tho

xsspeed · Post by **xsspeed** » Tue Dec 30, 2008 2:47 pm

Debateable

kiwi dollar is still sh1thouse.

Gave the coon a good thrash on the open road this morning. I'm kinda looking forward to filling up for only $70 odd. How lame am I?

1I1 · Post by **1I1** » Tue Dec 30, 2008 2:52 pm

Although i am liking the lower prices lancer costs me something like 20-25 $ a week to comute around 220k

thegreatestben · Post by **thegreatestben** » Tue Dec 30, 2008 3:29 pm

Buying celsior when I did really paid off.
Don't feel any guilt sinking my foot to the floor these days!

Boosted_162 · Post by **Boosted_162** » Tue Dec 30, 2008 3:33 pm

thegreatestben wrote:Buying celsior when I did really paid off.
Don't feel any guilt sinking my foot to the floor these days!

Im glad i decided not to sell the GS300!! Owning a whale is no longer wallet stretching! (as much as it used to be anyway :lol:

)

Not that im driving it anyway atm, $&#$% radiators :cry:

OMG so shiny! · Post by **Dell'Orto** » Tue Dec 30, 2008 4:16 pm

When 98 is $1.359, then I'll be happy

B1NZ · Post by **B1NZ** » Tue Dec 30, 2008 4:30 pm

Dell'Orto wrote:When 98 is $1.359, then I'll be happy

Still think they should be cheaper with the oil price at about $35 a barrell isnt it? Almost worth buying a Veyron to daily drive now :lol:

kirk28 · Post by **kirk28** » Tue Dec 30, 2008 5:48 pm

Still I think there is more room for the petrol prices to move down..When crude was at $151 USD petrol got to $1.70ish a litre in Aus..now it's down to just below a dollar in some states.

Unlike the AA I'm reserved that the price in refined oil took all this time to come down, as soon as the crude fell the price moved the next day in Aus. Au and NZ buy from the spot market in Singapore, so not sure what the delay was for here for it to come down. Not sure how long it will stay down for, OPEC is already reducing output by 2mill barrels a day. But at the end of the day economic global crisis or not, it's unlikely that demand has fallen so fast...more to do with futures trading I'd think, and the fact that commodities are now not the place to hedge.

Be nice if the price got to below $1.00, fck that would be a blast from the past.

Crampy · Post by **Crampy** » Tue Dec 30, 2008 5:55 pm

Gas was $3.56 a gallon when I got to Texas five months ago (was over $4 before we got there apparently). When I left it was right down to $1.59 ish. Cheap cheap!

flygt4 · Post by **flygt4** » Tue Dec 30, 2008 5:56 pm

I was so convinced that the price would never drop below 2$ ever again, and that was just the way things were going to be from now on.

I stand happily corrected

Crampy · Post by **Crampy** » Tue Dec 30, 2008 5:57 pm

flygt4 wrote:I was so convinced that the price would never drop below 2$ ever again, and that was just the way things were going to be from now on.

I stand happily corrected

Me too. I was kinda pissed I bought a turbo car.

ee904age · Post by **ee904age** » Tue Dec 30, 2008 7:19 pm

Crampy wrote: When I left it was right down to $1.59 ish. Cheap cheap!

Group buy anyone??

summin · Post by **summin** » Tue Dec 30, 2008 8:11 pm

You guys just wait till it slowly starts going back up again, like usual people will start whinging cos it's the end of the world etc etc... :roll:

Just enjoy it while it lasts...

Vertigo · Post by **Vertigo** » Tue Dec 30, 2008 9:06 pm

id say its more to do with supply/demand, plus the effect of speculators and investors. the more people start using more petrol because of the lower prices, the more speculators will return and invest in oil, and both of these combined will eventually make the price rise once again. this will eventually lead to less people driving, and the cycle repeats endlessly until something happens: either oil runs out, or we find a different way to fuel our cars. chances are that the effects will be more dramatic over time as well.

kirk28 · Post by **kirk28** » Tue Dec 30, 2008 9:15 pm

I think it may take some while before futures traders can have the same impact on oil prices. Liquidity is the main reason why many have stopped or $&#$% out, I'm guessing while the world economy is in recession, and while commodity prices are low, we will have relatively cheap petrol...wait for the recovery and for the China/India powerhouses get back on the development horse, then we will see the same crap we've experienced over the last few years.

deaf_rattle · Post by **deaf_rattle** » Tue Dec 30, 2008 9:53 pm

what i dont understand is that all the people that put costs up because of increase fuel costs, havent reduced them when the cost of fuel has decreased so much.

2jayzgte · Post by **2jayzgte** » Wed Dec 31, 2008 7:45 am

At the end of the day the oil companies are like organised crime they are the ones that have the control over a the prices and there margins.From what I'm seeing the price of petrol should be alot cheaper than it is now I think here in Gisborne the 98 price is in the $1.51 a litre so I reckon in Wgtn it'll be a maybe $1.49.There are obviously other factors involved but at the end of the day the oil companies are in colusion with one another and we as the consumers can moan all we want those companies have got the world over a barrel as everyone needs oil and I can't remember the last time I heard these companies being in any great financial difficulty.

Emz · Post by **Emz** » Wed Dec 31, 2008 9:20 am

2jayzgte wrote:At the end of the day the oil companies are like organised crime

LOL!

Grrrrrrr! · Post by **Grrrrrrr!** » Wed Dec 31, 2008 11:00 am

2jayzgte wrote:At the end of the day the oil companies are like organised crime they are the ones that have the control over a the prices and there margins.From what I'm seeing the price of petrol should be alot cheaper than it is now I think here in Gisborne the 98 price is in the $1.51 a litre so I reckon in Wgtn it'll be a maybe $1.49.There are obviously other factors involved but at the end of the day the oil companies are in colusion with one another and we as the consumers can moan all we want those companies have got the world over a barrel as everyone needs oil and I can't remember the last time I heard these companies being in any great financial difficulty.

Have you actually done some analysis on the pricing?

Try working backwards thru all the factors in the pump price in NZ. comparing now and say 2004 and I think you will find that the petrol company margin is a lower percentage of the retail price now than it was in 2004. The exchange rate is a killer, and the increases in govt Levies on fuel are a bitch.

Do you realise that 52.5c/Litre is fuel taxes and levies (and that doesn't include GST)? Add in GST and you're talking about 68c/Litre going to the govt.