22 Nov Fuel Prices and the Reason for our Increases
Every motorist or even person in Australia knows about the price of fuel on the escalate ….. who knows for how long. Since 2006, Fuel prices have increased dramatically and don’t seem to be coming to a halt any time soon.
Recently, we have seen the biggest increase in diesel fuel escalating by .33c in 3 months. In February, 2008 fuel prices were seen at an average of $1.45 per litre.In May 2008 our fuel prices hit an average of $1.78 per litre.
It is predicted by NRMA president Alan Evans that by the end of June prices could be at the $2.00 mark.
This means for us as individuals, we are paying more at the pump, more at the supermarket and more basically everywhere we go. The products consumers buy need to get into the shops, stalls, retail outlets and restaurants somehow. From the food we eat to the clothes and lifestyle we maintain, we pay for.
If we take a glance back 12 months ago, fuel prices in May 2007 were an average of 1.27 per litre. Now, fuel prices are up by 51 c per litre – that’s an increase of 40% in 12 months, hitting an average of $1.78 per litre.
To put that into perspective, If we take all our vehicles and average out the tank size, we get 405 litres per truck which means at an additional $0.51 per litre, that’s an increase of $206.55 per tank per truck.
Evidentially, the increase of Fuel by 40% means we need to increase our pricing to stay above the “empty” line. Our pricing will be constantly reviewed to ensure any savings at the pump will be passed back to our customers.