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The incredible rising cost of petrol

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nitpicker1
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« Reply #25 on: March 12, 2010, 11:36:03 am »


anyhow, hope is on the horizon:

Rigs fire up energy industry boom

Courtesy of ROB MAETZIG and The Daily News

New Zealand's most intensive oil and gas drilling effort is poised to start off Taranaki.

At its peak there are likely to be three rigs simultaneously in action off the coast as they work to bring into production oil and gas discoveries, then explore for more.

One rig, the Ensco-56, is already in position off the North Taranaki coast and is about to begin drilling a total of six production wells as part of $1 billion development of the Pohokura gas field.

Another, the Ocean Patriot, is due to arrive in Taranaki waters within a month to begin drilling four production wells for the $700 million development of the Tui oil discovery north-west of the Maui gas field.

A third offshore rig, the Ensco-107, will arrive off the South Taranaki coast early next month for the $1 billion development of the Kupe gas field. When it has finished that, it will be towed further out to sea to play a role in $600 million development of the Maari oil discovery. At the height of the offshore drilling operations, there are also likely to be up to six land-based drilling rigs in action throughout Taranaki as the search for new gas and oil supplies intensifies.

All this is going to mean very busy times for businesses and organisations that service the energy industry in Taranaki. Everything from engineering companies to helicopter services and stevedores are gearing up for the imminent boom period.

"What many people don't realise is that it is estimated that up to 40% of the entire Taranaki workforce is connected in some way to the energy industry," said Murray Winks, a director of Tasman Oil Tools Ltd, which supplies tools and other equipment to the explorers.

"Mate, if it wasn't for the energy industry, Taranaki would be like Gisborne without the climate."

Tim Saville, of Wendell Offshore Services Ltd, says his company is only just coping with catering and crewing demands for drilling operations, and he expects things to get even busier next year.

"I've been involved in the oil and gas industry here since 1975 and I've never seen anything like this," he said.

Port Taranaki is even having to create a new berth to cater for an influx of support vessels for the offshore drilling operations. Each of the rigs has two such vessels, and there will be several other specialised vessels basing themselves at the port during oilfield development operations.

The port's operations manager, Captain Ray Barlow, said part of the Moturoa Wharf was being turned into a supply boat berth.

This will mean that parts of Blyde Wharf, the main breakwater and Moturoa Wharf will all soon used by the energy industry.

Helicopters New Zealand Ltd will soon have three big Bell 412 helicopters based at New Plymouth to service the offshore operations.

The company has returned one of its choppers from Asia, and it will soon arrive in Taranaki.

HNZ also has an application before the New Plymouth District Council for consent to build another hangar plus additional passenger facilities and a new office.

The work is expected to be complete by Christmas.

http://www.porttaranaki.co.nz/General/newsArchive.htm


Awwwww, sorry that was dated October 24, 2006
  

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« Reply #26 on: April 21, 2010, 02:54:18 pm »


Driving costs rise as petrol prices head toward $2 a litre

By HAMISH RUTHERFORD - The Dominion Post | 8:40AM - Wednesday, 21 April 2010

Fuel prices are set to rise at least 10 cents a litre in coming months, getting close to $2 a litre, the AA warns.

The forecast comes after a sharp rise in the cost of driving since the start of the year.

Official inflation figures issued yesterday showed a 6.9 per cent rise in the price of petrol and diesel in the three months to the end of March.

Petrol prices are now at their highest level for 18 months. Earlier this month they rose 6 cents to $1.82 a litre.

Prices are being driven up by an increase in the cost of crude oil, which is now more than $80 a barrel.

But the Automobile Association warned yesterday that the price of petrol, now 20c a litre higher than it was a year ago, was likely to rise further in the coming months, even if world commodity prices remained steady.

Spokesman Mark Stockdale said an expected rise in GST, a plan to increase fuel excise duty and the cost of the emissions trading scheme could add up to an increase of more than 10c a litre, even at the present cost of oil.

"Even without the commodity price [rising] the price of fuel is going to be increasing in the next few months."

There appeared to be no global shortage of oil supplies, however. "The joker in the pack" was New Zealand's exchange rate against the US dollar, Mr Stockdale said.

Fuel prices could rise even more if the Kiwi dollar dropped, he said.

Yesterday's CPI figures from Statistics New Zealand also showed a sharp increase in the cost of buying second-hand cars, up 9.9 per cent on a year ago.

Industry figures said the price rise was driven by a downturn in the sales of new cars since the start of 2009. New emission standards on imported vehicles have also cut the number of older, cheaper cars on the market.

Perry Kerr, chief executive of the Motor Industry Association, a trade body for car dealers, said a 30 per cent fall in new-car sales last year meant there was now a shortage of second hand cars less than two years old.

"I'm surprised it's only a 10 per cent increase in price," Mr Kerr said. "Certainly, I'm hearing comments from some of our members that they're getting very good prices for one and two-year-old vehicles."

Car dealers were also reporting a move to cars that used less fuel, a trend also seen in 2008 when petrol topped $2 a litre.

"Looking at last month's figures, there has definitely been a move to smaller and more efficient vehicles," Mr Kerr said.

The cost of fuel was a main factor in CPI inflation in the March quarter, which was 0.4 per cent, but below what most experts had forecast. If the price of fuel had been unchanged, the CPI would have been flat during the period.


http://www.stuff.co.nz/dominion-post/national/3603931/Driving-costs-rise-as-petrol-prices-head-toward-2-a-litre
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« Reply #27 on: April 21, 2010, 04:52:49 pm »

wonder how much it will cost with the new carbon tax added
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nitpicker1
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« Reply #28 on: May 10, 2010, 02:50:47 pm »



BP, Shell drop petrol prices

Mon, 10 May 2010
News: National

Oil companies BP and Shell dropped their petrol prices by 4 cents per litre today.

All grades of petrol dropped by 4 cents per litre, with unleaded 91 dropping to 177.9 cents per litre, BP said.

There was no change to the price of diesel.

Shell also dropped prices by 4 cents on both grades of petrol.

A decrease in the international price of petrol was behind the drop, BP acting managing director Jonathan Wake said.

Mobil and Caltex could not be reached for comment.


http://www.odt.co.nz/news/national/105331/bp-shell-drop-petrol-prices

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« Reply #29 on: May 11, 2010, 01:33:41 am »

BP, Shell drop petrol prices

Mon, 10 May 2010
News: National

Oil companies BP and Shell dropped their petrol prices by 4 cents per litre today.

-------------------------------------------------------------------------------------------------

Hah! typical bullshit. people are just not buying as they use to. Oil Companys couldnt care less if world prices have dropped as the only concern for them is real time stats, how is stock moving fast or slow? then adjust accordingly....
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« Reply #30 on: May 11, 2010, 05:20:33 am »



Crude oil for June delivery rose $1.38, or 1.8 percent, to $76.49 a barrel at 10:54 a.m. on the New York Mercantile Exchange. Futures rose as much as $3.40 to $78.51, the biggest gain since Sept. 30. Crude futures have increased 30 percent in the past year. http://preview.bloomberg.com/news/2010-05-10/oil-rises-the-most-in-seven-months-as-europe-leaders-agree-on-fund-package.html
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« Reply #31 on: June 01, 2010, 09:53:44 pm »


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« Reply #32 on: June 23, 2010, 05:51:45 pm »


Petrol prices rise

NZPA | 12:27PM - Wednesday, 23 June 2010

New Zealand's major oil companies have increased their petrol and diesel prices by 3c and 2c a litre respectively.

BP, Mobil and Shell confirmed the price rise, with unleaded 91 octane increasing from 172.9c to 175.9c, and diesel increasing from 115.9c to 117.9c.

The companies said the change was due to an increase in the cost of international product.

Caltex could not be reached for immediate comment.

Gull said it was not increasing its prices.


http://www.stuff.co.nz/business/industries/3844344/Petrol-prices-rise
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« Reply #33 on: December 15, 2010, 02:56:25 pm »

It has happened.

Petrol price shoots past $2 a litre

JAMES WEIR - BusinessDay Last updated 05:00 15/12/2010

Petrol prices have hit a two-year high, breaking the "shock horror" point of $2 a litre, the Automobile Association says.

Petrol prices rose 3 cents a litre yesterday, taking increases since September to 22c a litre. Some car owners are now paying more than $100 to fill their tanks.

Part of the 22c rise relates to the October increase in GST.

Greenstone, which operates Shell stations, put up 91 octane to $1.95.9 a litre, with its 95 octane rising to $2.02.9 a litre. Diesel rose 4c a litre to $1.32.9.

Other big petrol companies are expected to follow suit.

Small player Gull said it would hold off till next Monday, with its prices 4c a litre less than Shell.

Greenstone blamed the latest increase on the steadily rising cost of oil, which is now about US$88 (NZ$117) a barrel.

The New Zealand dollar had also weakened, making fuel imports more expensive.

Oil prices have risen because of increased demand after the severe cold in Europe this winter. There is also continued strong demand from emerging economies such as China and India.

AA general manager Mike Noon said it could see why petrol had gone up, although diesel profit margins were now at the top of the usual range in New Zealand.

"We would have expected any move on diesel to be 2c a litre, not 4c," he said.

The "psychological number" for drivers was $2 a litre. The cost of 91 octane was close to $2 and 95 octane above that mark already.

"The shock horror factor comes when they say that is so expensive ... when you fill the car up and it is more than $100 [a tank]," Mr Noon said.

Even smaller cars were costing close to $100 to fill.

"That's a lot of money close to Christmas and before holidays when people go off to drive. It is not a good time for prices to be going up."

 http://www.stuff.co.nz/business/money/4458288/Petrol-price-shoots-past-2-a-litre

At least this time diesel is still around the $1.30 rather than $1.80.

Still I am glad we had our motoring holiday last school hols rather than this school hols.
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« Reply #34 on: December 20, 2010, 11:12:22 pm »


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« Reply #35 on: February 25, 2011, 09:35:08 pm »

Pressure is building on petrol companies to increase prices as their margins plunge, with the AA saying motorists should take the chance to fill up now.

Rising tension and supply threats in the Middle East have caused the price of crude oil jump by more than US$10 a barrel this week, while Tuesday's earthquake has seen New Zealand's exchange rate against the US dollar plunge, making imports relatively more expensive.

Industry analysts Hale & Twomey said that the gross margin on fuel was 17c a litre on Monday, which had fallen to 5c a litre today.

Hale & Twomey consultant Steve West said he could not recall a time when margins had fallen this low in recent times.

The gross margin reflects the difference between the pump price, and the price of fuel when it is received by petrol companies in port, and excludes all wage, transport and property costs faced by the companies.

Some in the industry believe that once the costs of running the businesses are taken into account, the New Zealand oil companies are effectively losing money on every litre of petrol sold at the current price.

Earlier this week Mike Bennetts, the chief executive of Greenstone, which owns the Shell petrol stations in New Zealand, acknowledged that its margins were dropping, but said the company did not move its prices in response to daily fluctuations.

Petrol prices in New Zealand are already at the highest level in more than two years, with a litre of 91 unleaded petrol, the most popular grade, costing $2.02.9c at most stations. Regular unleaded petrol peaked at around $2.20c in 2008.

However the AA has warned that the current prices, while high by recent standards, are unsustainable.

Spokesman Mark Stockdale said this afternoon that New Zealand was facing ''looming'' price rises, possibly by 10 cents a litre.

''Motorists can expect a sharp rise in petrol and diesel in the coming days. If motorists are running low on fuel now would be a good time to fill up.''

Stockdale said he believed the reason for the delay was that the fuel companies were preoccupied by the response to the earthquake.

The AA hoped that increase would be staggered so the full shock of the recent increases did not hit immediately.

BP said this morning that it would match all donations made towards the Canterbury earthquake relief which were made at its Wild Bean cafes.

http://www.stuff.co.nz/business/money/4704403/Petrol-price-rise-warning
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« Reply #36 on: February 26, 2011, 05:16:47 am »

What is another kick in the guts?
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nitpicker1
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« Reply #37 on: February 26, 2011, 05:46:36 am »


What is another kick in the guts?




nemmind, kick 'em back.

If ya've got water yas can just dilute yr petrol a bit more, get a goat to mow yr lawns, milk the goat to avoid adding more water to yr supermarket milk, then eat yr kids ooops goat's progeny to save on supermarket meat that has already been plumped up with injected fluoridated chlorinated water and


Ummmmmm


                                         
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« Reply #38 on: February 26, 2011, 04:50:09 pm »

I got a bit of the fright filling up my van an hour ago.

It cost $89, Roll Eyes it is not that long ago that the same tank full (62 litres) would have cost $65-70.

Yes, that is diesel.
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« Reply #39 on: February 27, 2011, 05:44:13 am »

Quote
nemmind, kick 'em back.

I must keep my mower running.
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« Reply #40 on: March 01, 2011, 06:44:52 pm »


Quote
nemmind, kick 'em back.

I must keep my mower running.

I wish I'd known about today's price rise, I wouldn't have used mine as a mobile deckchair to supervise a pothole filling operation that I had a couple of guys doing today.

Christchurch spared from petrol rise

6:42 PM Tuesday Mar 1, 2011 

http://www.nzherald.co.nz/fuel-prices/news/article.cfm?c_id=1500966&objectid=10709523
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« Reply #41 on: March 05, 2011, 10:20:26 am »


Pressure on for petrol price rises

By JAMES WEIR - The Dominion Post | 5:00AM - Saturday, 05 March 2011

The Chaos

PETROL PRICES are moving up again, jumping another 3 cents a litre late last night.

Shell lifted 91 octane to almost $2.11 a litre, with a similar rise for 96 octane. Diesel went up 5c a litre.

BP increased and then cut prices by 3 cents a litre yesterday.

Petrol companies say the pressure is on for prices to rise. Prices jumped 5c a litre on Tuesday.

The Automobile Association advised earlier that prices may be on the way up again in coming days. People should shop around, in light of BP's hasty retreat from a 3c rise imposed on Thursday night.

International fuel prices are up and the New Zealand dollar is down just under US74c after the Christchurch earthquake and expectations that official interest rates will be cut next Thursday. The combination makes fuel much more expensive. Petrol prices are already at a two-year high and close to record levels seen in mid-2008 of almost $2.19 a litre.

BP said pump prices were "unsustainable". But after raising prices 3c a litre to $2.10.9 a litre on Thursday night, it brought them back down yesterday to remain competitive when other petrol companies initially did not move.

"We needed to match the market, but pricing is under extreme pressure," a BP spokeswoman said. BP said the cost of refined fuel had risen 10c a litre in the past week, with intense pressure on prices largely because of the political crisis in big oil exporter Libya, where oil production has plunged.

Caltex also held prices yesterday.

The Automobile Association has calculated that the imported cost of fuel had jumped 10c a litre since the previous rise in the middle of last month, but only half of that had been passed on by the companies.

"Their costs have increased again since then," AA spokesman Mark Stockdale said.

"It looks like they want to stagger their increases."


http://www.stuff.co.nz/dominion-post/news/4734390/Pressure-on-for-petrol-price-rises
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« Reply #42 on: March 06, 2011, 01:00:06 pm »


Drivers blame garage staff for fuel hikes

By NEIL REID - Sunday Star-Times | 5:00AM - Sunday, 06 March 2011

PETROL STATION workers are facing the brunt of customer fury at soaring fuel prices.

And unhappy consumers have been told to expect further pain, with a report saying that every $US1 rise in the cost of a barrel of crude oil on the international markets sucks between $22 million and $33m out of New Zealanders' wallets.

Since October, the price of a barrel of crude oil has risen by more than $US27.

The price of unleaded 91 rose to $2.09 at some petrol stations last week, with the rise blamed on ongoing political unrest in the Middle East.

Service station owners are feeling customer frustration, with Tahir Umar, manager of GAS in Mount Eden, saying: "They think that we put up the price. But my costs for regular are over $2 a litre. That is my cost."

"I tell them straight that I only make a few cents a litre. And when somebody runs away without paying, there goes my whole day."

"The truth is that my profit margin doesn't go up with the price rises... we don't get a cent. The government takes the biggest cut. Seventy percent of what you pay on the petrol goes to the government."

A study by Green Party transport spokesman Gareth Hughes says every increase of $US1 in the price of a barrel of oil wipes out $40m to $60m of New Zealand's annual gross domestic product, and destroys between $22m and $33m in household spending. That equated to a loss of more than $1 billion to GDP, and around a $600m reduction in consumer discretionary spending.

"Every time Kiwis have to pay more at the pump, it means they have less money to spend on the necessities," Hughes said.

"Their dollars are going overseas to oil companies, because they just don't have any other way of getting around."

"Since the beginning of this year we've seen a jump in oil prices of about $US12.50 and that is all it takes to wipe out Treasury's assumption of 0.5% quarterly growth in GDP."

GDP refers to the market value of goods and services produced within a country in a given period. It is an indicator of a country's standard of living, with the the International Monetary Fund last year listing New Zealand 51st among its 181 member nations.

If the Kiwi dollar fell further, which is likely in the aftermath of the Christchurch quake, Hughes said New Zealanders would feel the pain even more sharply.

"With oil reserves becoming increasingly expensive and difficult to recover, unstable political situations in many oil-producing nations, and a fluctuating dollar, New Zealand is extremely vulnerable to petrol price increases," he said.

"This is entirely because our transport system is so reliant on oil."

Hughes said his forecast highlighted a need to reprioritise transport spending on improving public transport systems and cycleways.

Brendan O'Donovan, chief economist for the Westpac bank, said the latest price rises were due to "negative supply shock".

That resulted in non-oil producing nations being stung by escalating costs.

"When it is a negative supply shock, like the surge in recent weeks because of the revolutions in the Middle East, then it tends to come as a pure cost to us because of the higher costs because of the concerns about restricted supply."


http://www.stuff.co.nz/sunday-star-times/business/4736552/Drivers-blame-garage-staff-for-fuel-hikes
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« Reply #43 on: March 06, 2011, 07:53:28 pm »

I do question why diesel prices are rising at the same rate as petrol prices.
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« Reply #44 on: March 07, 2011, 04:34:52 am »

Quote
Good god, they will all go away and we will have none.
It could be a good time to buy a clydesdale and a couple of nags. Grin
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« Reply #45 on: March 07, 2011, 06:16:25 am »

Lets laugh, before we cry

15th December 1974

In the wake of the 1973 Arab-Israeli war, the Arab oil-producing countries (OPEC) imposed an embargo on supplies to the US on 20 October 1973.
For the wider world, oil prices went through the roof, from around $3 a barrel before the war to over $11 by early the following January. http://news.bbc.co.uk/onthisday/hi/dates/stories/december/15/newsid_2559000/2559807.stm

 
meanwhile, March 07, 2011

Crude oil futures settled at their highest level in 2 1/2 years at the weekend, with light, sweet crude for April delivery 2.5 per cent higher at $US104.42 a barrel on the New York Mercantile Exchange -- the highest settlement since September 26, 2008

http://www.theaustralian.com.au/business/oil-prices-hits-a-high-over-middle-east-unrest/story-e6frg8zx-1226016766187


Yeah, right. 


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« Reply #46 on: March 07, 2011, 09:34:11 am »

Quote
Good god, they will all go away and we will have none.
It could be a good time to buy a clydesdale and a couple of nags. Grin

we were talking about doing that 5 - 6 years ago .. and the grandson said last night, to keep a horse would probably cost as much as the gas  Grin

In Kawhia petrol is $2.18 pl, in Pirongia it $2.12, and in Hammy its 2.08.
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« Reply #47 on: March 23, 2011, 09:45:12 am »

The price for 91 octane is now on a par with the record petrol cost of $2.19 which was last hit in July 2008. BP, Shell and Caltex yesterday lifted their prices by 3c a litre to $2.1899.

A Mobil spokesman said it would not be far behind the other major suppliers and would assess the situation this morning.

Gull is undercutting the big players, selling its 91-octane bioethanol-petrol blend for $2.14.

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10714326
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« Reply #48 on: March 23, 2011, 01:37:26 pm »


The outfit whose carriage trains I haul absolutely luuuurve dramatic fuel price rises.

'cause when the price of fuel goes rocketing upwards, heaps of people drive to the nearest railway station and catch the train instead of driving their car to work.

The result is that revenue goes through the roof.

They are creaming it at the moment! 
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« Reply #49 on: March 23, 2011, 01:37:56 pm »


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