Oil Companies are running out of excuses

When is the last time you remember going to fill up your Automobile? For most people, it’s a least once a week. Even those chugging along in hybrid cars sooner or later have to make a stop to the petrol station. Now ask yourself, when was the last time you considered the price of petrol to be a fair and just? Not since September 2010 is the best answer one could give. During this time period, prices hovered around $1.70 to $1.80 for 91 Octane. http://www.scoop.co.nz/stories/BU1010/S00064/september-fuel-prices-stable-until-october-tax-inc.htm.
Today, the price of petrol per litre of 91 Octane sits at $2.20 throughout the major distributors such as BP, Shell and Mobil, with Gull selling at $2.18. New Zealand's Automobile Association spokesman Mark Stockdale asserts that these greedy conglomerates are merely using the most abject and lowly excuses for the sake of making higher margins. "The margins [before the increase] were at a level where, a year ago, they would have been acceptable to the fuel industry.Now the industry is saying that these margins are not acceptable, and the public don't understand the reasons why."
http://www.stuff.co.nz/business/industries/6576542/Fuel-firms-accused-of-chasing-greater-profits

One year ago a litre of 91 Octane was level with the highest price it had ever been, at $2.19. A later increase in May pushed it to a record price of $2.22 per litre, forcing many motorists to seek alternative methods of transportation (much to the delight of Green Party). A series of drops slowly and reluctantly came from these oil cartels as excuses began to run dry. Now, as price creep up again, be mindful that there is no valid reason for 80% of petrol increases because so often they're linked to events which are completely irrelevant or pinned on a dollar which has proven recently to bear little weighting. Below is a compilation of explanations from various company spokesmen and women.

"Oil prices have been rising in recent months on fears that Iran will disrupt supplies through a key export route."

"Oil prices are also being pushed up by fear of spreading conflict in the Middle East, with websites promoting a "day of rage" in Saudi Arabia on March 11." http://www.stuff.co.nz/dominion-post/news/4745822/Petrol-heading-for-record-high

"But Caltex and Greenstone Energy, which owns the Shell brand, told NZPA the price of refined oil had gone up faster than the exchange rate, prompted by demand in the United States and West Africa." http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10723374

These were three among many of the lousy excuses motorists had to swallow, finding out, sometimes up to three times a week, they'd have to pay more to drive their automobile around. Every time conflict and strife happens, it fulfils the reason to have a rise in the pumps. Who could forget the incessant blame Libya took for high petrol prices from these corrupt bigots. Yet no one remembered or cared to address Saudi Arabia doubling their production to account for Libya's diesel deficiencies.

Oil Companies now are in a similar position to a year ago. After yesterday's close in trade, the New Zealand dollar sat at 82.17 US cents, whilst in 2011 it was nearing a similar mark. http://tvnz.co.nz/business-news/nz-dollar-holds-near-week-high-4801403 When an increase occurs, these corrupt bigots continually moan about the New Zealand dollar bearing weight for the price rise when the exchange rate is low. They merrily did so last year after the terrible earthquakes in Christchurch and will continue to do so, unless proven by analysts of their unjust price fixing. This excuse is proven void right now; with a strong kiwi dollar, no decreases at the pump have yet occurred, despite oil prices hovering within the same price brackets for the last month (Based on Brent crude oil.) http://markets.ft.com/Research/Markets/Tearsheets/Summary?s=1054972

Comparatively, New Zealand ranks high among cheap petrol prices in the OECD. New Zealand also has an average income of just $54,000 NZD a year, "not the most high by international comparisons." http://www.averagesalarysurvey.com/article/average-salary-in-new-zealand/07163011.aspx Such an advantage doesn't cover much considering Australia, which has wages far superior to New Zealand, sells petrol at $1.50.

Excuses like this cannot last forever and those aristocrats in Parliament ought to put more pressure on these greedy Oil Giants to be more fair in their pricing. It's little wander so many New Zealand families are struggling. But don't tell Kiwi owned Z Energy that. They claim to be doing everything they can to keep their customers happy. In a few years time, if

the petrol price is at a fair price of $1.75 a litre, the Aotearoa whanau would believe it to be an honest expression, rather than a smug excuse to clean out motorists' pockets.