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| Thread ID: 116553 | 2011-03-09 06:16:00 | Petrol Prices | tuiruru (12277) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1184690 | 2011-03-10 01:07:00 | Its all about futures trading and investors making a killing on speculating on what supply and demand will do, and much less to do with what the oil companies get. We only have one car now and SWMBO uses it for work and I either walk or cycle everywhere depending on how painful my shoulder is on any particular day |
gary67 (56) | ||
| 1184691 | 2011-03-10 03:18:00 | Its all about futures trading and investors making a killing on speculating on what supply and demand will do, and much less to do with what the oil companies get. We only have one car now and SWMBO uses it for work and I either walk or cycle everywhere depending on how painful my shoulder is on any particular day Yes agree, this all happened in 2008. All it takes is a hint of supply problems and the speculation (gambling) cycle starts. Its always nice to know we are helping make the filthy rich of the world even richer. isn't capitalism great!. Mind due a lot of hedge funds involved also. |
Battleneter2 (9361) | ||
| 1184692 | 2011-03-10 03:25:00 | So in reality, the price increase should happen after a month! As long as the prices keep increasing, the petrol companies continue making money. I think we are all in the wrong business!! The guy at the local Caltex station said they get a 3 month supply in at a time. So yeah, someone up the chain is making a mint when the price rises. |
Renegade (16270) | ||
| 1184693 | 2011-03-10 06:10:00 | I've got a friend in England who's recently had an e-mail from a friend in the US - the friend is complaining that petrol has gone up to $3.35 a gallon | tuiruru (12277) | ||
| 1184694 | 2011-03-10 06:15:00 | Yeah, 1 US gallon is 3.785 litres. And US$1 is NZ$1.35 today. Still damn cheap over there. :pf1mobmini: |
johcar (6283) | ||
| 1184695 | 2011-03-10 07:46:00 | Yeah, 1 US gallon is 3.785 litres. And US$1 is NZ$1.35 today. Still damn cheap over there. :pf1mobmini: Thanks johcar - I was hoping someone would do the conversions for me! |
tuiruru (12277) | ||
| 1184696 | 2011-03-10 08:07:00 | I have a mate who works for BP, apparently the shipping companies don't even wan't to be bothered coming over here so we have to buy in bulk for them to consider the trip worthwhile. Even when the tankers do dock they don't want to wait around for the correct order of mixing tanks to be available (oils have to be stored and and mixed in portions accordingly) apparently they just dump it in the 1st available tank causing problems since the refineries or storage guys etc have to drain each tank, clean it then re fill the tanks in order accordingly to do it properly. |
The Error Guy (14052) | ||
| 1184697 | 2011-03-10 17:42:00 | Yes I think the recent rises are due to speculators. They said it was not them the last time petrol rose a lot in 2007/08, but then the bubble burst. Taine Randall was an oil trader in London around that time before he came back to New Zealand. Bet he wasn't earning peanuts. I always wonder where the oil companies fit it ? If these speculators can buy the oil when it is on the tankers and then sell it to the oil companies when it reaches the destination country, why don't the oil companies buy it from the producing country and keep it ? (surely they have enough cash) Remember the move Trading Places when Eddie Murphy was predicting the price of pork etc. |
Digby (677) | ||
| 1184698 | 2011-03-10 19:04:00 | www.kshitij.com Saudi: .61 Gallon |
pctek (84) | ||
| 1184699 | 2011-03-10 22:16:00 | Saudi and Iran and Venezuela all subsidise their petrol to keep their people happy. The New Zealand government used to subsidise our milk that was why it was 4 pence a bottle in the 1960's. |
Digby (677) | ||
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