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Thread: Petrol prices coming down

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    Thumbs up Petrol prices coming down

    Caltex joins Shell, Gull and BP in slashing petrol price
    Page 1 of 2 ..... Updated 4:14PM Friday Oct 17, 2008
    By Edward Gay


    Consumers no longer need to worry about petrol prices soaring over the $2 per litre mark. Photo / Glenn Jeffrey

    Caltex has dropped their petrol prices by 8 cents a litre and diesel 6 cents a litre, following the lead of Shell, BP and Gull who all dropped their prices this morning, pointing to a decrease in the international price of refined fuel.

    Shell and BP are now selling 91 octane for 181.9 cents, while diesel is now at 135.9 cents a litre. Gull is selling its bio-fuel mix at 178.9 cents a litre and regular 91 at 180.9 while diesel is selling at between 131.9 and 134.9 cents a litre.

    Dave Bodger from Gull said overnight the price of refined products fell by $7 a barrel. "It came back significantly," Mr Bodger said.

    BP spokeswoman Diana Stretch agreed. She said despite the heavy reductions in the price of crude oil over the last weeks, at times the refined prices were moving the other way.

    "At times we were looking at an increase, not a decrease," Ms Stretch said.

    Mobil has so far not returned phone calls.

    The move comes after it was revealed that drivers were paying 30c a litre more for petrol than they were the last time crude oil prices were at yesterday's level.

    Economists were quoted in today's paper saying that our fuel prices should come down substantially and soon.

    More here.
    Mother Bear

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    Petrol prices come down 5c
    4:00AM Tuesday Oct 21, 2008

    All the major petrol companies cut their prices by 5c a litre yesterday. Shell was first, at 3.30pm, taking the price of its unleaded petrol to 176.9c a litre.

    The rest followed soon after, with Gull bringing its price down to 173.9c.

    Shell spokesperson Kylie Reeves said: "The price of crude oil has been steadily falling and this is continuing to flow through into the cost of refined product."

    The last petrol price decrease was 8c a litre on Friday. Petrol has dropped more than 40c since July 17.

    Mark Stockdale, of the Automobile Association, said: "The petrol cut is excellent and reflects continuing reductions in the product price, coupled with a steadying exchange rate - and we hope another drop will also be forthcoming for diesel."

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    Don't worry they will be back up in a jiffy.
    Cheers

    Cliff

    Nelson, New Zealand
    NZ Citizenship in 2000, been in NZ 15 years now
    Arrived NZ in 1997 from Las Vegas, Nevada, USA

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    Ooo, you're such a pessimist, Cliff

    You're also probably quite correct

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    Welshgirl

    I would agree with that but I am also a futures day trader. Trust me, it will go up a lot this next time so much that current prices will look cheap. This is no stopping it. Can't tell how fast it will rise but will go to $200 USD a barrel.

    Basic price funamentals will rule.
    Cheers

    Cliff

    Nelson, New Zealand
    NZ Citizenship in 2000, been in NZ 15 years now
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    Five oil firms drop petrol prices, just two drop diesel
    2:40PM Thursday Oct 23, 2008
    By Edward Gay

    Oil companies have all dropped the price of petrol by four cents a litre while only BP and Shell have dropped diesel as well.

    Caltex, Gull, Mobil all dropped petrol by four cents but did not drop diesel.

    Caltex spokeswoman Sharon Buckland said diesel and petrol prices had been "de-coupled for some time now" and the international market price of diesel had not gone down overnight.

    But Shell spokeswoman Jackie Maitland said her company had seen a softening in price and had passed that on in time for the long weekend.

    "We could see some decrease in the cost of the product," Ms Maitland said.

    She said the decrease in petrol has been larger than diesel.

    BP spokeswoman Anita Ferguson said both the price of petrol and diesel had decreased on the international market.

    More here.
    Mother Bear

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    Petrol prices go down
    Updated 10:48AM Monday Nov 03, 2008

    Shell, BP, Caltex, Mobil and Gull have dropped fuel prices by six cents this morning.

    Shell spokeswoman Jackie Maitland said Shell was selling 91 petrol for 166.9 cents a litre and diesel for 125.9 cents.

    She said the decrease in price was due to a stabilising Kiwi dollar and a continued decrease in the international barrel price.

    "That said, the market remains volatile and we commit to reviewing our prices daily so we can pass on the best available price to our customers," Ms Maitland said.

    BP spokeswoman Diana Stretch said the drop was due to international price declines. Prices at BP and Caltex are the same as Shell's.

    Gull is one cent cheaper with 91 octane petrol at 165.9 and diesel at 124.9. Gull's bio-fuel petrol mix is 163.9 cents a litre.

    Gull retail manager Dave Bodger said the markets were volatile.

    "It's been down, up, down, up for the last few days," Mr Bodger said.

    Mobil had earlier only dropped petrol by four cents, leaving diesel unchanged and giving competitors a two cent advantage.

    But Mobil adjusted its price just after 11am, coming into line with competitors.

    Mobil spokesman Alan Bailey said earlier his company had seen a need for a decrease but did not think fall in the international was low enough to justify a drop of six cents at the pump.

    "The market of course is very competitive and if others are doing it, you can't afford to stay off the pace," Mr Bailey said.

    Shell
    91: 166.9
    Diesel: 125.9

    Gull
    91: 165.9
    Regular-plus: 163.9
    Diesel: 124.9

    Mobil
    91: 166.9
    Diesel: 125.9

    BP
    91: 166.9
    Diesel: 125.9

    Caltex
    91: 166.9
    Diesel: 125.9

    NB: all prices measured in cents per litre of fuel

    - NZHERALD STAFF

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    Petrol is now cheaper than when we arrived at the end of March! Wonder how long it will stay
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    Thumbs up

    Petrol cheapest for 14 months
    By NICK CHURCHOUSE - The Dominion Post | Tuesday, 11 November 2008

    Kiwis can look further afield for their holidays with another cut in the price of fuel taking a litre of petrol to its lowest point for the past year.

    A fall of 5c a litre in petrol prices took 91 octane to $1.58, with 95 octane at $1.63. Diesel did not change.

    The price is 61c a litre lower than petrol's high point in July and the lowest it has been in 14 months.

    The 28 per cent drop from the record high point of $2.19 translates directly into savings, equating to about an extra 120 kilometres from a $50 tank of fuel in an average Toyota Corolla.

    Automobile Association spokesman Mark Stockdale said the price of refined petrol had dropped steadily and petrol companies had dropped retail prices in line with it, keeping their importer margins largely constant.

    There was no way to know how far the price could go, but at some point it would become unprofitable for the refineries.

    "It's great news for motorists and how long it will continue we will have to wait and see."

    Diesel had not had the same decreases because it was a staple requirement for industry. "You still need diesel to run an economy."

    Demand for petrol was more volatile and responded more quickly to economic concerns, Mr Stockdale said.

    The stability of the exchange rate between the New Zealand dollar and the US dollar - settled around US60c - was helping translate drops in international fuel price to the pumps.

    The fight for margins at independent service stations remains tough. Most New Zealand service stations are company-run, but a few are in private ownership.

    After 30 years in the industry, former Motor Trade Association president Chris Kirk-Burnnand sold his last petrol station in 2007 because he said the margins were uneconomic.

    He said that, as petrol got cheaper, the percentage charged by banks and credit card companies was less and eroded less of the retailer's profit margin, which was fixed at about 4c per litre.

    "It takes a bit of pressure off, but no one is making any money in this game."

    He said that, as the oil companies set the price at the majority of service stations, the independent stations were obliged to follow to compete.

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    Shell, BP and Caltex drop fuel prices
    12:55PM Wednesday Nov 19, 2008

    All four major petrol companies have dropped their fuel prices by 5 cents today.

    Shell, BP, Caltex and Mobil are now selling 91 octane petrol for 148.9 cents a litre and diesel for 120.9.

    Gull is one cent lower with 91 at 147.9 and bio-fuel mix at 145.9. Gull is selling diesel at 119.9

    BP spokeswoman Diana Stretch said the price decreases came after a fall in petrol and diesel prices.

    She said there could have been further drops had the New Zealand dollar held against the US dollar.

    "If it had stayed at 60 cents we may have seen a drop of between 6 and 7 cents instead of five.

    Shell spokeswoman Kylie Reeves and Caltex spokeswoman Sharon Buckland said the decrease in price at the pumps was due to a drop in the refined product prices.

    Ms Reeves said since July 17, petrol had dropped 70 cents per litre. Diesel has dropped 65 cents since the July 8.

    - NZHERALD STAFF

    From here.
    Mother Bear

    Try to bloom wherever you are planted.

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