Australian average petrol prices, compared to the spot price of Tapis crude, remain elevated. As the first chart shows it appears both are trending in the same direction. Petrol prices have eased as the price of crude has dropped. However, it’s not until you look at the percentage moves in the year to date that you see the bigger picture. From the first available price reported in 2014 average petrol prices at the bowser have fallen 11.1%. In comparison, even when priced in Australian Dollar terms, the spot price of Tapis crude has been smashed, falling 28.3% in line with global energy prices. While there are lag times associated with what you see on the markets to what you pay at the pump, no one is disputing that, with a 17.2% disparity between the two it’s clear that someone, somewhere is making a healthy profit.