SkyscraperCity banner
1 - 20 of 120 Posts

·
Registered
Joined
·
77,024 Posts
Discussion Starter · #1 ·
currently highest ever price at $1.72 prlt yesterday in sydney

big V8s are no longer being bought. you can get one for under $9000 instead of $25000.
no one is driving far anymore. death to driving holidays.?
30 petrol drive offs (fill up without paying) a day in sydney.
expected to reach $2.50 prlt next year.:nuts:

http://www.news.com.au/dailytelegraph/story/0,22049,23893146-5006009,00.html



Used car dealers slash V8 car prices as petrol costs soar

June 20, 2008 12:00am

WITH petrol prices skyrocketing, Australian's appetite for big, gutsy cars is dwindling, with used car dealers slashing the price of the fuel-guzzlers in an effort to offload them.

Dealers say high petrol prices have slowed demand for bigger cars so much they are struggling to keep their businesses open.

While smaller, more economical cars are holding their value, larger-engined cars are depreciating at a faster rate.

Everlast Autos used car manager Allan Homsi said more people were trying to trade big cars for something smaller and more economical.

"I've had four people just this week who have come in to trade in their old V6s," Mr Homsi said
"I just don't want to touch them. V8s were one of our best selling cars, now we can't get rid of them,"

Mr Homsi said, while V8s would once have dominated his yard, he now intended phasing them out by Christmas.

He said larger cars were selling at about half the price they were a year ago - while the price for smaller cars had only dropped by about $2000 during the same period.

He is currently selling a 2002 model 1.8 litre Honda Civic - that would retail for around $25,000 - for $8990.

Alongside it sits a similarly-aged 2000 model, 5.7 litre V8 Commodore SS - which retails for about $45,000, now going for $9990.

He said the Commodore had been in the yard for three weeks.

"A year ago I would have sold that car in about three days for $15,000 - now I'll be lucky to get $10,000."

He said the Civic would have sold for $11,000 a year ago, dropping only $2100.

With unleaded petrol prices rising past $1.70 a litre, it costs almost $130 to fill a Commodore or Falcon fuel tank.

Industry experts said prices - which reached as high as $1.72 a litre yesterday - were a factor in people losing interest in large cars. Motorists may also be forced to pay even more, with fuel costing $1.93 a litre at Perisher Valley in the Snowy Mountains.

Australian Automotive Intelligence consultant Richard Johns said large cars were depreciating far more rapidly than smaller cars.

"A standard five-year-old, six-cylinder Commodore is worth less than 40 per cent of what it cost new," he said.

"The average small car is running at about 50 per cent. We would attribute at least some of that to fuel prices."

Mr Homsi said fuel was top of the list of considerations for people buying a used car.

"They come in and the first thing they say is that they want a small automatic that's low on fuel.

"We had a guy in this morning offering to pay $8000 towards the finance owing on his 2007 model Commodore - he said he just couldn't afford to run it."

He knew of at least five dealers forced to close in the last year.

"These are people who have been in the business for years who can't stay afloat."
 

·
derp
Joined
·
10,274 Posts
do we need a new thread for every article that comes up on this subject?
 

·
Sydney: World's best city
Joined
·
40,696 Posts
Petrol prices have been as low as $1.50 in some parts of Sydney. We will all have to start making changes fast. Just use your common sense.
 

·
Registered
Joined
·
1,788 Posts
I use LPG and have no time for the fuel guzzling whingers esp the stupid women taking the kids 1 Km to school in the 4WD trucks.

Get out and walk with them you lazy bitches!

Might be a lot less OS trips in future as well
http://www.theage.com.au/articles/2008/06/20/1213770909129.html


Airline fuel surcharges reach $1000

June 20, 2008 - 4:27PM

Some airline passengers could soon be paying as much in fuel surcharges as the pay for their base airfare, research by Flight Centre suggests.

Flight Centre said Japan Airlines would soon become the first carrier to charge travellers a $1000 fuel surcharge on its popular Sydney to London route when its latest surcharge increases were applied from July 1.

Thai Airways and Malaysian Airlines will increase their fuel surcharge next week, taking the levy nearer to $1000 for their London routes.

Flight Centre managing director Graham Turner said the overseas airlines were defying the Australian trend, led by Qantas Airways and Virgin Blue, of increasing base airfares to reflect fuel price rises.

"At a time when most experts are predicting further fuel price rises, surely the time has come for fuel to once again be included in the base airfare," Mr Turner said.

The fuel surcharge will increase on a return Sydney-UK flight rise from $773 to $1076 on Japan Airlines, from $526 to $892 on Thai Airways and from $588.60 to $829.60 on Malaysian Airlines.

Emirates announced price rises from next month that did not have a fuel surcharge.

Mr Turner said airlines, by announcing price changes in advance, had presented travellers with a small window of opportunity to save.
 

·
Banned
Joined
·
1,298 Posts
I don't drive so it doesn't effect me :banana:

Yay for my crappy (albeit cheap) train service.

crazyknightsfan said:
do we need a new thread for every article that comes up on this subject?
No.
 

·
Registered
Joined
·
348 Posts
I use LPG and have no time for the fuel guzzling whingers esp the stupid women taking the kids 1 Km to school in the 4WD trucks.
TBH them taking them 1km isn't going to have a huge impact. What they do tend to do with noticable effect around here, is actually drive them the 25km+ to the city central schools from the suburbs. You just watch as the traffic evapourates on holidays. (obviously some people taking time off work too).

That 25km trip then means a 50km round trip generated to drop little timmy at school, when there are perfectly good (and even private) schools just a couple of KM away.

Hopefully with less people taking the car the bus routes improve, I think they already have, when I used to take the bus to school (long time ago now) it took about 20 minutes, for what was a 5 minute car ride.

I'm all for PT, and PT that is better than taking the car (ie, not 4x as long travel times, more like 0.8-1.2x as long. (Which does happen now at peak times to certain destinations).
 

·
Sydney: World's best city
Joined
·
40,696 Posts
China has ditched it's fuel subsidies which has triggered an 18 % rise in fuel prices over there. It has at least stablised prices during the week.

The speculators are a menance as well. If they think something is going to happen, up it goes e.g possible hurricances hitting Texas and Israel threatening to attack Iran.
 

·
Moderator
Joined
·
6,556 Posts
The speculators are a menance as well. If they think something is going to happen, up it goes e.g possible hurricances hitting Texas and Israel threatening to attack Iran.
Speculators are an easy target for blame but in reality oil is not a financial asset and incurs very high inventory costs due to the volumes involved. At the end of the day someone needs to take physical delivery of the good and it’s not going to be a big city investment firm. Speculators may add a dollar or two to the peak, but it’s always a short term thing.

The fluctuations in the price are more to do with the inelastic demand (consumers willing to pay any price and not willing to go without) and the high cost of inventory. Oil stockpiles are typically strategic (government run) rather than economic, and are small compared to daily public demand. Drillers are often secretive about their reserves and capacity (especially in non-western economies), hence prices can be bided up dramatically in a short period when someone in the supply chain sneezes. Wholesalers will pay anything to ensure supply knowing that a high price is still better than an idle refinery.

It’s not rocket surgery. For the price to fall either supply must increase or demand must decrease. Since it is a finite resource and we’re in a growing global economy, I wouldn’t bank on either scenario any time soon.
 

·
Regulator
Joined
·
392 Posts
There will always be cars on the road, even if petrol climbs over $2 a litre.

Congestion is still getting worse and worse every year, so I don't think the cost of petrol has necessarily stopped too many people driving, and if it has - that's a good thing.

I'm an LPG user as well. Much cleaner and better.
 

·
Registered
Joined
·
154 Posts
$5 a litre I say. Up and up.

Maybe it will get some of our nations millions of overweight out and about.
 

·
Registered
Joined
·
77,024 Posts
Discussion Starter · #15 ·
do we need a new thread for every article that comes up on this subject?
i created the "original" thread on petrol last year but its gone. There is another thread on 'watching fuel' but that isnt about petrol prices and how it is changing our way of life. not sure what that thread is about?
all i know is risjng petrol is creating problems. only the well off people will have cars just like the old days.
back to horse and cart i say.
 

·
Registered
Joined
·
194 Posts
I don't drive so it doesn't effect me :banana:

Yay for my crappy (albeit cheap) train service.


No.
Me to!, Thankgod Vline offers such great low prices for us studenys, its cheaper for me (Student) to go from Geelong to Melbourne on the train than it is to drive to the damn train station:lol:!

:banana:
 

·
Watch my Chops
Joined
·
6,035 Posts
I drive about 1 hour and 30 minutes combined to and from work each day. Yay for working in the construction industry.
 

·
Registered
Joined
·
511 Posts
I do not understand why the government will not set up a biofuel indstry here in Australia. We have land in the north that can be used to grow large amounts of crops. We could be the Saudi Arabia of biofuel. Maybe then we could go back to paying less than $1 a litre.
 

·
Champagne Socialist
Joined
·
11,972 Posts
Speculators add liquidity to the futures market - any market for that matter - where oil is traded - it just so happens that most of them are taking long positions (wanting the price to go up).

The same speculators who are adding liquidity now, will be doing exactly the same when a price crash / bubble burst occurs too - they'll close their long positions and open up short positions (wanting the price to go down).
 
1 - 20 of 120 Posts
Top