Is not all bad news.....

rogevibe · ‎10-03-2020

Wholesale price of crude oil has dropped by 30% - word is it that big-oil will pass on proportional reduction at rrp ie $1 per lItre petrol.

This must make transport much cheaper and so the cost of doing business so much more competitive

There must be other changes that Australia could find advantageous

I invite plausiable thoughts reagarding this possibility

davewil1964 · ‎10-03-2020

@rogevibe wrote:
Wholesale price of crude oil has dropped by 30% - word is it that big-oil will pass on proportional reduction at rrp ie $1 per lItre petrol.
This must make transport much cheaper and so the cost of doing business so much more competitive

There must be other changes that Australia could find advantageous
I invite plausiable thoughts reagarding this possibility

Crude oil is priced in $US. $A has dropped significantly against $US recently. Therefore not all the benefit is going to make it to our shores.

ecar3483 · ‎10-03-2020

Cheap petrol means I'll get more for my $20 in the tank...

That's great!

It means I'll be able to drive around more, in my fruitless search for loo paper, ha ha...

🙂

myoclon1cjerk · ‎10-03-2020

Our oil price is pegged to Tapis, not WTI, so it'll be interesting to see how much petrol will fall at the bowser.
Like dave said our $ has fallen against the greenback so imports i.e anything that plugs into a wall socket, clothing etc will cost more eventually. If the economy doesn't pick up soon the Reserve might possibly introduce quantitative easing which will drop the value of the $ even further.

icyfroth · ‎10-03-2020

@ecar3483 wrote:
Cheap petrol means I'll get more for my $20 in the tank...
That's great!
It means I'll be able to drive around more, in my fruitless search for loo paper, ha ha...

🙂

Enjoy it while you can.

rogevibe · ‎10-03-2020

I was thinking about trade and commerce relating to fuel expenditure , the costs which get passed on to us, rather than direct personal usage - although would be welcome for many who must drive

This crisis should improve profits for many companies

rogevibe · ‎10-03-2020

@davewil1964 wrote:
@rogevibe wrote:
Wholesale price of crude oil has dropped by 30% - word is it that big-oil will pass on proportional reduction at rrp ie $1 per lItre petrol.
This must make transport much cheaper and so the cost of doing business so much more competitive

There must be other changes that Australia could find advantageous
I invite plausiable thoughts reagarding this possibility
Crude oil is priced in $US. $A has dropped significantly against $US recently. Therefore not all the benefit is going to make it to our shores.

If we can get covey under control totally - then our economy should pick up and so the AU$ should gain in value

davewil1964 · ‎10-03-2020

@rogevibe wrote:
I was thinking about trade and commerce relating to fuel expenditure , the costs which get passed on to us, rather than direct personal usage - although would be welcome for many who must drive

This crisis should improve profits for many companies

Assuming that people are going to buy what they're selling. Most of which is manufactured overseas. And I, for one, would prefer to see us leftie workers get some of the cream, rather than businesses and their shareholders, who are getting fed at the teat of our government anyway.

They weren't buying before, why would they do so now. Except for a few things that they don't actually need rooms full of.

rogevibe · ‎10-03-2020

@davewil1964 wrote:
@rogevibe wrote:
I was thinking about trade and commerce relating to fuel expenditure , the costs which get passed on to us, rather than direct personal usage - although would be welcome for many who must drive

This crisis should improve profits for many companies
Assuming that people are going to buy what they're selling. Most of which is manufactured overseas. And I, for one, would prefer to see us leftie workers get some of the cream, rather than businesses and their shareholders, who are getting fed at the teat of our government anyway.

They weren't buying before, why would they do so now. Except for a few things that they don't actually need rooms full of.

Buy local , yah !