As the financial crisis hit, oil prices have come down a long way since the highs experienced earlier in the year. The Aussie Dollar has also come down sharply against the Greenback. With these factors, should the price at the pump have fallen? Yesterday, as a silly protest, a petrol station in Blacktown started subsidising petrol, and sold Unleaded at 94.9c a litre for a while. According to 2Day FM, they were subsidising more than 30c off their wholesale price, which means, the petrol stations really don't make that much profit - all the profits goes to the petrol companies.
I will attempt to post some figures every Wednesday morning from now on and compare the price at the pump, crude oil, and exchange rates. This will hopefully give us a good idea of what is actually happening and how much we're being ripped off.
Unleaded: 140.9c / L
Exchange Rate: 0.6882 USD
Crude: 72.18 USD (104.88 AUD) / Barrel
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