This makes a joke of fuel watch, which we haven't heard much about recently. We are paying about $1.56 in the A.C.T. I guess our pollies travel to Parliament house in their tax paid limos, with their eyes closed. Or maybe they are doing what they said, and watching the fuel prices - rise. I give up, there is absolutely no logic attached to these rises, just greed.

Fuel watch a joke? Of course.



$20million to set up a website which will be virtually useless, and serve only to get rid of independents.

There are already in existence a number of websites that people can access to find the cheapest petrol in there area. The RAC has been running one for years.







Look at Grocery watch ($17million) . Has been running for 3 months, and all they have come up with ,is the fact that one supermarket in particular has been cheaper overall.

If it had been successful in doing what was implied in the govt's spiel, that is to save "working families" money on their day to day shopping, I am yet to hear, or read anywhere this has been the case.



If GWatch had done what it was supposed to do, surely the letters pages and talkbacks and forums would be overwhelmed with praise.

What a joke....but I don't find it funny.

PS to my earlier post......

None of which excuses the greed of the oil cos, not bringing the price down at the petrol stations.

Yes a real rip off--we have just 2 service stations here and they are both the same price $1-52

No wonder we have a problem. You are SO right. 3 months ago oil was $146 per barrell & the pump price was $1.65 P/L.. Oil is now around $90 P/B. Just one tiny wee little problem. 3 months ago the Oz dollar was 99 cents US. It was 71 cents this morning, & the local pump price was $1.38 P/L. Caltex are actually only shafting us for a very few cents. Keep it up. You are terrifying the pollies with your intellect.

Innes

I cant really agree with your logic about the dollar value as t6he facts stack up like this:-

In Dec 2005 Crude oil was $90 per barrel and fuel per litre in Bris was 103.9 and Syd 113.9

The exchange rate USD to Aussy dollar was 75.85 in Oct 05 and 69.51 in Dec 05.

SO the mathmatics the fuel companies were using was either incorrect in 2005 or squed in 2008.

Whats your take on this info?

u3a Why do you have to stuff up a good arguement with basic facts. I am still trying to put together some facts. A few years ago Caltex, which refines & distributes most of Oz petrol was worth a little over $3/share. At that time, they were paying a dividend of approx 5% (from indistinct memory) In the last year their shares have gone as high as $23.95 & are currently $11.30 with a P/E of 7.98. They are refining the same quantity of fuel. Whoops something is wrong!! ACCC says they are not ripping us off & who would argue with those brains. Damn. Back to mental arithmetic school. This is embarassing!!!!

[size=4]I won't pretend to even halfway understand about share prices etc....math being my worst subject way back in school, and has never improved.

However ,none of the above explains why the prices change from one hour to the next...or even one day to the next.[/size]

Hi Koko, The only control of the fuel price is fuel watch & the Fair Trading arms etc. All totally incompetant. Under these circumstances, the major suppliers will carry on charging whatever they want, because they can.

Innes

I cant really agree with your logic about the dollar value as t6he facts stack up like this:-

In Dec 2005 Crude oil was $90 per barrel and fuel per litre in Bris was 103.9 and Syd 113.9

The exchange rate USD to Aussy dollar was 75.85 in Oct 05 and 69.51 in Dec 05.

SO the mathmatics the fuel companies were using was either incorrect in 2005 or squed in 2008.

Whats your take on this info?

.

Pretty clear from that then we are being ripped off and no one cares - as the public servants who are in charge and the politicians all over paid so dont even notice - dont pay out of their own pockets anyway - use taxpayers funds.

.

The last figure in Dec 05 is just about what the AU$ is today - so no excuse for not bringing down the prices from $1.54.9 ULP here today.

.

Heard also today that we can expect no rise next year due to financial crisis.

.