Phewwww…..the petrol price hike….!
submitted 7 months 2 days 16 hours ago by: West Coast Eagle : 5 comments
An overnight increase in fuel prices here from $1.39/ litre to $1.53 for unleaded petrol has shocked most of us here……! Damn... my habit of procrastinating….didn’t get the gas tank filled last night :(
Commonly the petrol prices here rise and fall on a weekly basis. However this had been consistent at $1.39 for some time now - unfortunately none of us could foresee such a massive price hike in the coming days.
Can the over night price hike of 0.14 cents/litre be justified? The fuel companies justify this by saying “it is due to increase in world oil prices”. Of course world prices have a big impact on petrol prices but did the world petrol prices go up just last night? If not then why such big increases?
How do my friends in Pakistan and elsewhere feel about this increase compared to what they have back home…?
Comments
Grand Larceny, especially considering the fact that the oil which was traded at a higher price in the stock market will probably not make it to the consumers for a good 6 months!
Appears to be a lot by the sound of it.
How much is your dollar to our Ruppee btw....??
It is really a bad news. Unfortunately the spill over effects of oil price hike increases the prices of each and every segment of the economy. It seems that we are helpless in this case.
The major rises in oil price came after America's invasion on Iraq. They could not manage the oil supply, according to them. But i think they are intentionally cutting the supply to gain theri vested interest. Americans do every thing to have full control of black gold. We should ready to experience more hike in oil price.
FYI
World oil prices have gone up to claim another all time high world record of US$118 per barrel. How do you expect the countries then to put a cap on the rising petroleum prices.
Impossible.
Another news which I heard a couple of days ago and forgot to share here was that Ahmadinejad was addressing national and international media, in which he stated that the oil prices should be further increased, as they are still not at the acceptable level.
My God, what would be the acceptable level ?
He is actually correct. Gasoline still costs less than beer
From a producers (of a fast dwindling resource) perspective oil is way under priced. In 50 years there will be no oil left to speak of. A higher price will encourage investment in alternate energy sources
These poor bastards are literally sitting on gold mines but not leveraging their power effectively