Petrol Prices – No Logic At All!
When I call in to a service station to fill my car with petrol, I am mildly pleased that no matter what price I am paying, the tank of my current vehicle, unlike that of the previous one, will not hold $100 worth of fuel. Oh for the good old days when $20 would get me to the Gold Coast and back.
Our fuel prices have something – I’m not sure what – to do with prices in Singapore, but every time I fill the car I feel slightly sorry for the motorists in Europe who are paying about 40% more for the same product as we are here in Australia.
The wild fluctuations we experience world wide have nothing to do with supply and demand, which my economics lecturer way back in the 50’s asserted were, in a free market, the determinants of selling price.
No wonder the population of bike riders is expanding.