Petrol Price Fixing In Australia
Fuel jumped about 10 cents yesterday. In one day. It’s funny considering I missed another war starting or Saudi Arabia being destroyed by a Nuclear Bomb. In fact the only thing thats changed this week is it just so happens to be 2 days before school holidays. Ironically before many families go on holidays, fuel prices skyrocket…
The world oil price has someone stagnated in the past 15 days, it’s stopped rising. So why has petrol just gone up… thats right… school holidays. They’d never price fix I hear you cry…
They do it every weekend. Feel free to refer to graph 1 to see that there is no corrolation whatsoever with world oil prices hiking each weekend.
The GST doesn’t help much either. The government said it would not cause fuel prices to increase. It did though, although it never made big news. Two indepentdent investigations both found the GST made our fuel more expensive:
The fact that cost savings to fuel companies were overestimated by the Commonwealth was also confirmed in a report by Econtech, commissioned by the Australian Automobile Association. Both the Econtech and ACCC reports estimated that the savings arising from ANTS were only 0.4 cents a litre, i.e. the Commonwealth actually increased tax paid by motorists by 1.1 cents per litre.
- Government Fuel Tax Inquiry
This is so incredibly insignificant when you look at how much tax we pay on our fuel already. The RACV has a huge collection of tables on it here, but as a rule of thumb, almost half (and sometimes more) of what you pay ends up in the governments pockets.
