Increasing fuel prices

[Hillbilly]

I was speaking with my sister last week and she told me that 91 was around NZ$2.00 a litre. There's a article explaing why, and what Aussies are complaining about here: http://au.news.yahoo.com/080414/2/16go5.html

[henry]

That's un-Australian!

[Gubb]

We'll hit $2 pretty soon, by June I suspect.

[Slicksta]

You can mostly thank the goverment for this...

[Sanx]

You can mostly thank the goverment for this...

Whilst you can thank the gubmint for the various taxes they apply to fuel, the main increase has come about 'cos of two things:

1. Bush's lasting legacy of the war in Iraq; and
2. China's (and to a lesser extent India's) massive increase in the demand for oil.

The chart in this link shows the inflation-adjusted price of a barrel of oil going all the way back to 1946. The chart stops in December of last year, when oil was $83 a barrel. It's now at $111 a barrel, which is higher than at any time in the past. In 1998, it was $10 a barrel. There's little the NZ government can do when the raw materials increase in price by 1100%. But what they could do to soften the blow is to reduce their already-too-high tax take somewhat, but that's not going to happen. Just be thankful you're not in the UK, where 95 unleaded (you don't get 91 over there) is averaging 107p per litre - that's NZ$2.69 - of which 65% or thereabouts goes to the UK government.

[Coldrider]

In the world wide scheme of things we still have very much cheap petrol.

Try Italy or there abouts, that was about $2.00 NZ (thousands of lire) equivalent in 1993.

Was 85P per liter in the UK a few years back, what's it now...

[ManDownUnder]

My prediction...

Fuel prices go up and up and up... bad BAD fuel companies are blamed. Just before the election Cullen will "find" cash... somewhere in the Labour Party Cash Laundry, and will reduce the tax take by 4 or 5c/litre "just in time for the election...

Claims of "Aren't we good - kept the multinationals in check" etc etc etc wil be offered, lots of hairy chest beating (that's Uncle Helen beating h[is|ers] while Cullen stands by smiling benighnly.

Election over, tax cuts get removed by the now ruling party and the then opposition screams blue murder while Winnie the poo blames the Asians for the whole thing

[EJK]

Well pesmistically thinking, one day it'll cost $100 bux to fill up a bike

I'm tellin ya, it's gonna happen within our generation...

[Flatcap]

Well pesmistically thinking, one day it'll cost $100 bux to fill up a bike

I'm tellin ya, it's gonna happen within our generation...

Nah - if it gets that expensive I will buy a stil and brew ethanol from my own turds

[Forest]

Fortunately the USD has been weakening over the last year. Oil is traded globally in USD, so the weak USD has softened the blow for NZ consumers.

Having said that, the NZ taxes on petrol are proportional (not fixed). So as petrol prices rise, the government gets more of our $$.

[SPman]

I only paid $1.39.8 yesterday for 91........although it is pushing $1.50 at some garages.

[The Pastor]

I only paid $1.39.8 yesterday for 91........although it is pushing $1.50 at some garages.

where the hell are you?