Nick Garlaounis 1Fuel still too Highly Priced!!
November 25th 2008 23:31
The barrel of oil is the lowest it has been in years and we are still paying a ridiculous amount per litre.... Savings on the barrell for the oil companies were felt immediately so this begs the question, how come this saving is not passed onto the consumer? Profiteering is the simple answer!
Its all too common that as soon as the barrel increases on the overnight markets we literally feel the impact of higher prices at the bowser the very next day, so why doesnt this work in reverse? Again, profiteering!! The oil companies extend the downscaling of pricing so their margin is falsely increased for a period of time, although this may only be by 2 to 3 cents per litre you need only multiply this by millions of litres and the action they take makes complete sense.
The ACCC is now in a position of being a toothless tiger, it has absolutely no authority apart from being able to name and shame an oil company. This came about during the Howard government rule when they succumbed to pressure from the oil companies and removed the powers the ACCC once had over this industry.
If you really want to know who runs the economy, look no further than the nearest oil company and to top it off have a look at the car manufacturing industry as well as both of them have been in bed together for a very long time.
Its all too common that as soon as the barrel increases on the overnight markets we literally feel the impact of higher prices at the bowser the very next day, so why doesnt this work in reverse? Again, profiteering!! The oil companies extend the downscaling of pricing so their margin is falsely increased for a period of time, although this may only be by 2 to 3 cents per litre you need only multiply this by millions of litres and the action they take makes complete sense.
The ACCC is now in a position of being a toothless tiger, it has absolutely no authority apart from being able to name and shame an oil company. This came about during the Howard government rule when they succumbed to pressure from the oil companies and removed the powers the ACCC once had over this industry.
If you really want to know who runs the economy, look no further than the nearest oil company and to top it off have a look at the car manufacturing industry as well as both of them have been in bed together for a very long time.
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