Why do you think petrol prices are going down?

by La Posted 2012/07/04 14:47:39

Related Topics: News, Country, Drop, Countries, Price, Time

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Our prices have been surprisingly low for over a week. Usually they are only comparatively low for a few days, but they have gone lower than usual and stayed there. I found out it's because the ACCC (Australian Competition and Consumer Commission) has announced an inquiry into why petrol prices have been getting so high ;) This is very good news for the general public because every time the ACCC announces this, petrol prices drop down and stay down for 4 months or so :D YAY CHEAP PETROL!

Anyway I hear on the SH-grapevine that prices have come down a bit in other countries too. Do you know why that is happening for you? Or are your prices just as high as ever?

Idiot repubs 2012/07/04 15:29:03

+5
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More polls by La

Kat 2012/07/18 12:27:44

+2
Ours went down for a while, now they are coming back up.

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Stormy 2012/07/05 04:33:26

+2
Storage capacity in the US is at maximum levels so maybe the speculation and hoarding of oil by the Big Banks has eased the pressure on oil prices. Also economic downturn has eased demand. So demand is low therefore price drops.

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RicardoCabeza 2012/07/05 00:50:51

The initial onset of a new global recession is here... Reduced global demand is creating a situation where it is more expensive to keep refreshing existing gasoline stock than it is to sell at a lower cost...

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starguide 2012/07/04 17:41:38

+2
because the petrol companies hoarded so much they have no place to put it..

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La to starguide 2012/07/05 00:40:51

+2
Lol

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METALheadMom 2012/07/04 16:57:52

+1
DUH..... it's close to election time - that ALWAYS happens when someone wants to stay where they are.

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Anonymouse BN-0 ~bibbityboo~ 2012/07/04 16:25:05

+1
The Arabs have been exporting more oil to make an Embargo on Iran possible... Basically political scheming...

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S. Gompers 2012/07/04 15:44:47

+2
Because the price of a barrel of crude is falling.

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Idiot repubs 2012/07/04 15:29:03

+5

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Sister Jean 2012/07/04 15:26:36

+3
mid east lowered prices

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Kat 2012/07/04 15:11:28

+4
Supply and demand. The Arabs have opened the taps and driven prices down for political reasons. They can close them just as easily and drive them back up.

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