crude oil down

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!

9556_goldoil.jpg
 
Not sure why but petrol in Melbourne has spiked from 95cents to $1.20 over the weekend.

Did'nt think it would last long.
 
valuecreator said:
I keep telling partners and clients that oil priced in gold (the only price that really matters) is the cheapest EVER.
Click to expand...

Turning that on its head, you could say gold is being accumulated, oil is being sold heavily.
 
TheEnd said:
Not sure why but petrol in Melbourne has spiked from 95cents to $1.20 over the weekend.

Did'nt think it would last long.
Click to expand...
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%.
 
col0016 said:
TheEnd said:
Not sure why but petrol in Melbourne has spiked from 95cents to $1.20 over the weekend.

Did'nt think it would last long.
Click to expand...
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%.
Click to expand...

The petrol price cycle
 
whinfell said:
col0016 said:
TheEnd said:
Not sure why but petrol in Melbourne has spiked from 95cents to $1.20 over the weekend.

Did'nt think it would last long.
Click to expand...
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%.
Click to expand...

The petrol price cycle
Click to expand...
Reading that didn't explain why after falling slowly for months it went up by 20% overnight...
 
col0016 said:
whinfell said:
col0016 said:
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%.
Click to expand...

The petrol price cycle
Click to expand...
Reading that didn't explain why after falling slowly for months it went up by 20% overnight...
Click to expand...

The down cycle has ended and a new one has started. Look at the cycle for Perth - runs like clockwork! :P
 
Yes, and when the ACCC get their price measurements this week, the graph will be updated and you'll see a new cycle starting. :)
 
whinfell said:
Look, grasshopper ;)
Click to expand...
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?
 
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
 
Caput Lupinum said:
col0016 said:
clear said:
$26.85 now
Click to expand...
And yet it''s the same price at the pub as when it was $75.
Click to expand...


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?
Click to expand...
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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