Ripped Off Again

So far in 2014 the spot price of Tapis crude, priced in Australian Dollar terms, has fallen 26.1%. From the last reported price for 2013, $151.30/l, the average price for fuel in Australia has fallen just 1.1%, even after the recent plunge in crude prices globally. While those who own shares in refiners will be smiling (or at least hedged), it’s clear that someone is is┬ábenefiting from widening margins and it’s not Australian motorists!

Source: Australian Institute of Petroleum


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