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Petrol station pricing mirrors bank tactics on interest rates, review finds

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Administrator. Graeme
Staff member
PETROL stations jack up prices up to eight times faster than they drop them, a five-year review has found. And the worst spots for this in Victoria are Bendigo, Ararat, Benalla and Yarrawonga, the study by the University of New England, in NSW, concluded.
Professor of macroeconomics Abbas Valadkhani likened the phenomenon, dubbed "rocket-feather pricing", to that of banks quickly slugging customers with higher interest rates but passing on rate reductions at a slower pace.
"When the cost of petrol goes up, the retail price shoots up like a rocket. But when the wholesale cost goes down, the price goes down like a feather," Prof Valadkhani said.
His research, which studied outlets at 111 metropolitan and country locations nationwide, examined the speed of price movements when retail unleaded fuel prices were substantially above or below expected levels.

Petrol station pricing mirrors bank tactics on interest rates, review finds | News.com.au

FFS it took them 5years to work this out ?? who the hell gets paid for these studies
 
This bloke is a deadset genius and should commended for all his hard work and effort to produce such an indepth and insiteful study......:rolleyes::rolleyes::rolleyes:

But while we are on the topic of fuel, farkin Coles, coz they have their discount voucher for 4 or 8 cents off, all it means is they are 4 or 8 cents higher then other fueloutlets, example, diesel 156.9 at coles, some private place selling diesel 148.9:rolleyes::rolleyes::rolleyes:

Dont farkin get me started on the price of diesel compared to petrol either.....
 
Well every consumer has known this for decades.

The old excuse for slow price drops has always been that they payed the expensive price for the fuel in the tanks, yet they did not worry about selling the cheap fuel in the tanks at the expensive price when prices went up:rolleyes:

Don't understand how they get funding for these studies and how it took them 5 years to work out, all they had to do was ask a consumer or two.

Next there will be a 5 year study to show that the volume on commercial breaks on TV is heaps louder than the actual movie....the advertisers been telling up for years this is not happening, there must be something wrong with my ears then:mad:
 
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can't expect them to just give the fuel away...
 
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can't expect them to just give the fuel away...

No one expects them to give the stuff away, but it's consumer gauging when they have a few hundred thousand litres bought at a cheap price then quickly whack the price up to sell the cheap petrol they have already bought at the expensive price, so fuel goes up within minutes of a price rise.

Yet when it comes to drop the price, they wait till they buy the cheap fuel to put the price down so might take a few days to come down.

That's just ripping off the consumer.


But while we are on the topic of fuel, farkin Coles, coz they have their discount voucher for 4 or 8 cents off, all it means is they are 4 or 8 cents higher then other fueloutlets, example, diesel 156.9 at coles, some private place selling diesel 148.9:rolleyes::rolleyes::rolleyes:

Our local Woolies service station is the cheapest in town even before the shopper docket discount, buy a can of 'Mothers' and if you filled your car up you actually pay less than if you left the can in the fridge...stupid, so I have a collection of 500ml Mothers cans sitting behind the bar at home.
 
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sorry, italics = sarcasm :)

of course it's gouging... but we are in a capitalist market, everyone wants to make as much money as possible...
they justify it by saying consumers have a choice of which day to fill up...

When I was driving 1000km to work a week, I cared...
now I don't care so much :D but they are still k#ntses
 
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Our local Woolies service station is the cheapest in town even before the shopper docket discount, buy a can of 'Mothers' and if you filled your car up you actually pay less than if you left the can in the fridge...stupid, so I have a collection of 500ml Mothers cans sitting behind the bar at home.
'
same my local woolies and coles servos are the cheapest in town , the indep and also the mobile are both sky high

when the coles has the 20cent dockets , a friend that works at the servo saves them as you reuse them , i had a good stockpile of them
 
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