Minutes after Australia’s consumer watchdog declared oil companies had done the right thing by cutting the cost of petrol to appropriate levels, they thumbed their noses at motorists by ratcheting bowser prices up 12c yesterday.
Bannerman asks a question. Why is there a “normal weekly price cycle” which decrees that oil refiners make more profits at some points in the week than at others? If the Tapis market rate is trending downward, surely the retail price should do exactly the same?
Bannerman thinks something is very rotten in the state of our fuel economy.