What the press is saying about petrol, LPG, diesel, crude oil, biofuel etc.
(Click on the "News Article" link for the full story, opens in new window)
BP Quarterly Results - Profit up by 83%
29/10/2008. BP, Europe's second biggest oil producer behind Royal Dutch Shell, posted a net profit of $8.049 billion for the July to September quarter, up from $4.406 billion in the same period a year earlier.
Over the 9 months from January - September profit increased to $24,501 Billion, up from 16,446 Billion the same period in 2007, an increase of 49%.
Excrement found in Dessert
29/10/2008. Government expressed desire to get to the bottom of it.
OPEC agrees to cut output by 1.5 million bpd
24/10/2008. An emergency OPEC meeting on Friday reached agreement to cut oil production by 1.5 million barrels per day (bpd) in an effort to halt a steep oil price slide.
In September OPEC decided to lower its production ceiling to 28.8 million bpd from earlier targets of 29.67 million bpd.
OPEC is in a difficult position; a high price means renewables can make a big impact, which they want to prevent, yet countries like Nigeria, Venezuela and Iran need prices above $90 for their investments.
Today crude prices were as low as $63.32 per barrel, down from $145.29 on 4 July, a 56.4% drop. (Average petrol prices went down from 167.4 to 149.8 a 10.5% decline.)
Crude Oil below $100 - Petrol higher
11/09/2008. Crude oil has come down to less than $100 per barrel. Last time it was this low was on the 5th of March. The average ULP petrol price was $1.34. Today that price is $1.58 -- 24 cents higher.
The fall in the Australian dollar accounts for about 10c per litre. So who gets the rest?
The Australian Government did not do too badly; the GST has increased more than 2 cents per litre, making the total of excise and GST now 52.5 cents per litre.
11-09-2008 Crude Oil below $100 - Petrol higher
08-09-2008 Big Parties Big Losers this weekend.
30-07-2008 BP profits jump thanks to oil prices
27-07-2008 Ambulance strike with a difference
09-07-2008 PM Rudd: G8 made progress on climate talks
08-07-2008 G-8 endorses halving global emissions by 2050
04-07-2008 Prof Garnaut calls for urgent climate action
26-06-2008 Changes to NSW Road Rules
23-06-2008 Jane McGrath died at the age of 42
11-06-2008 Labor's $70 million hybrid gift to Toyota
07-06-2008 Rates blamed for house price dive
03-06-2008 Member calls for investigation into benefits and risks associated with genetically modified orgasms.
03-06-2008 Plan to drill for oil off NSW coast
25-05-2008 Government to review GST on Excise
16-05-2008 Wages, House Prices and Petrol
14-05-2008 Petrol likely to go to $1.65
14-05-2008 Budget 2008: “It’s about my house stupid!”
13-05-2008 BUDGET SPEECH 2008‑09
11-05-2008 Budget - Medicare levy surcharge
15-04-2008 Fuel Watch Scheme to apply as from 15th December 2008
04-04-2008 LPG - Cheaper, better for environment BUT conversion subsidy likely to be dumped.
05-03-2008 RBA lifts rates to 7.25%
07-02-2008 Rate rise unlikely to slay inflation
05-02-2008 Another rate rise - to cut inflation??
03-01-2008 Oil $100 per barrel first time ever.
19-12-2007 ACCC Report on Petrol Price
03-12-2007 Kevin Rudd sworn in as Australia's 26th Prime Minister
15-11-2007 Rudd commits $15 million for ethanol
21-09-2007 ACCC Petrol Price Inquiry Extension
04-09-2007 Caltex admits trying to push petrol price up
25-08-2007 Demand fuels Caltex's profit increase
06-08-2007 Petrol dockets scheme a 'Rip-Off'
15-06-2007 Another Petrol Price Inquiry
24-04-2007 Labor anounces Carbon Tax if elected
12-03-2007 Government to announce $100 Million grant for Clean Coal
07-03-2007 Rates stay at 6.25%
01-03-2007 Economists warn of petrol price rise
19-01-2007 Petrol Prices fall after ACCC warning
20-12-2006 Car Makers struggle with high Petrol Prices
29-11-2006 Vaccine to go on national program