Why crude oil price goes down but the petrol price is still at its peak in Australia?

The oil companies use as a reason, the market and that it takes two weeks for any increase or decrease, to flow through to the consumer. I live near a terminal in South Australia and have seen one tanker come in, unload and then leave. Three to four hours later, another comes in, fills up from the stored oil and then ships it back overseas. Keeping oil in short supply and keeping the price artificially high! I know the tanker that comes in, is empty because of its draft (where it sits in the water).





In addition to the excuse, is the fact that our dollar has lost considerable value, in recent times and with governments casually trying to misquote, what any advice was from the Reserve Bank, as to what was required, in order to keep us out of the stock market's bottomless pit, it is not going to change anytime soon. Confidence is waning.





The opposition has not been doing anything intelligent themselves, either, of-late. The person called ';Opposition Treasurer';, has herself been caught out, with plagiarism allegations. Such originality!Why crude oil price goes down but the petrol price is still at its peak in Australia?
OPEC has begun discussing cutting production of oil in order to bring up the price of a barrel of oil. An OPEC decision should come within the next couple of weeks. It will then take another couple of weeks for the effects of the reduction to influence oil prices. It is reasonable to expect another few weeks for the price of a barrel of oil to influence the price of gasoline. In short prices should begin to rise towards the end of the year.





It should be noted that gas prices fell because of the global economic slowdown. The longer it takes for the economy to recover, the longer gas will be cheaper.





Hope that helps. If you are interested in finding out more about oil prices and the economy visit Truly Newsworthy at http://www.TrulyNewsworthy.com.Why crude oil price goes down but the petrol price is still at its peak in Australia?
Rampant profiteering by the oil companies. The prices are coming down slowly in the UK now but nowhere near where they should be.





The argument is that it takes time to filter through the system and down to the pumps. Utter crap really as they were quick enough to raise the prices as soon as they could.





There should be a law against this kind of profiteering and holding people to ransom.
it will never come down to the level it was ,as they think where all used to the price of it now ,we are all suckers
Aussie is upside down remember ! It's gravity !!!!
it takes those oil tankers a long time to reach Australia, the $150 are still being unloaded.