[Syndrome]

Originally Posted by bobthebilda

All the current talk on oil prices is based on the Nymex price, which is well and good if you have a refinery based in Middle America. Australian oil or anything supplied into Australia is priced on Tapis, which is currently about US$63 per barrel, or US cents 42 cents a litre. That 42 US cents then becomes almost 60 Australian cents. Add in the circa 45 cents that gets added in Taxes, then you are looking at $1.05 per litre before refining,transport and retail margins are added in. The current terminal gate price is around $1.15 in most capital cities.

The thing that will drive petrol prices down the most will be less demand for the fuels in Asian countries. We probably see a bit in that now, with Diesel prices falling below ULP

http://hotcopper.com.au/threads/tapi.../#.VdwC2jbsk5t

It is impossible to find a chart for Tapis prices. Even the Australian Institute of Petroleum does not have it.

http://www.aip.com.au/pricing/facts/...uel_Market.htm