crude oil down

Discussion in 'Markets & Economies' started by clear, Nov 27, 2014.

  1. valuecreator

    valuecreator Well-Known Member Silver Stacker

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    I keep telling partners and clients that oil priced in gold (the only price that really matters) is the cheapest EVER.

    Well, that's not true!

    There was a short blip in the 30's when oil was even cheaper...

    I've been waiting so long to start that Oil/gold grid... doing it at last!

    [​IMG]
     
  2. Ronnie 666

    Ronnie 666 Well-Known Member Silver Stacker

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  3. TheEnd

    TheEnd Well-Known Member

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    Not sure why but petrol in Melbourne has spiked from 95cents to $1.20 over the weekend.

    Did'nt think it would last long.
     
  4. aleks

    aleks Well-Known Member Silver Stacker

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    Turning that on its head, you could say gold is being accumulated, oil is being sold heavily.
     
  5. col0016

    col0016 Active Member

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    Can someone explain why petrol is suddenly up 20 cents? I was shocked when I went to fill up, fortunately I found a small independent still at 103, but everything else was $1.20. I'm guessing the price of oil hasn't gone up 20%.
     
  6. whinfell

    whinfell Well-Known Member Silver Stacker

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    The petrol price cycle
     
  7. col0016

    col0016 Active Member

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    Reading that didn't explain why after falling slowly for months it went up by 20% overnight...
     
  8. whinfell

    whinfell Well-Known Member Silver Stacker

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    The down cycle has ended and a new one has started. Look at the cycle for Perth - runs like clockwork! :p
     
  9. col0016

    col0016 Active Member

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    I saw the Perth one, very interesting... but look at the Melbourne one!
     
  10. whinfell

    whinfell Well-Known Member Silver Stacker

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    Yes, and when the ACCC get their price measurements this week, the graph will be updated and you'll see a new cycle starting. :)
     
  11. whinfell

    whinfell Well-Known Member Silver Stacker

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  12. col0016

    col0016 Active Member

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    That really doesn't answer my question of WHY though.
    If the price of oil is cheaper this weak than last week, which was cheaper than the week before, then why does some arbitrary length of days dictate that the price we pay at the bowser has to rise by 20% every 45 days?
     
  13. clear

    clear Well-Known Member

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    $26.85 now
     
  14. col0016

    col0016 Active Member

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    And yet it''s the same price at the pub as when it was $75.
     
  15. clear

    clear Well-Known Member

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    . I agree - roll out the barrel
     
  16. whinfell

    whinfell Well-Known Member Silver Stacker

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    "A schooner of your finest West Texas Intermediate, please" :)
     
  17. Jim4silver

    Jim4silver Well-Known Member

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    Saw local fuel price of $1.30 today for lowest grade. I'm reading it may drop below $1 per gallon before the price stops falling. This is great!
    This won't last for long and when it goes back up it's gonna suck big time.

    Jim
     
  18. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    You do realise you have to convert Australian dollars to US dollars to buy oil, right? What has the Australian dollar done since oil was $75 US a barrel?
     
  19. col0016

    col0016 Active Member

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    Haha my bad, pump!
     
  20. col0016

    col0016 Active Member

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    Not dropped by 66%, why do you ask?

    Edit: Just checked the charts and since roughly this time 2 years ago, oil has dropped about 75%, petrol prices are only about 25% cheaper and yet our dollar has only fallen by a bit over 25%.
    Surely you don't think that adds up?
     

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