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NZ Petrol Firms are Ripping us off.

 
 
XP
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Posts: n/a
 
      08-31-2005


Just heard on the New that Petrol is going up because of the US Hurricane

But we have a 90 Day stock here, and that new price would not hit here for
some Months and it was Only the US price.


Plus on the BBC World news it just stated it was a Blip and the price went
back down to what it was before.

Even the DOM listed it as a Blip..

Its about time the Government got off its Arse and did some think about this,
as all the Petrol firms here are a Cartel and making millions out of this..


Competition just does not work here at all.


 
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Redbaiter
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Posts: n/a
 
      08-31-2005
XP says

>
> Competition just does not work here at all.
>

Another stupid commie.. **** off moron, there's too many of your
braindead ilk posting their boring clapped out commie **** here
as it is..

Get you buddy Klark to stop taxing petrol at rip off rates and
using the money to buy the votes of racists and bludgers rather
than straight away smearing free enterprise with propaganda you
leftist dumb****..

The real cost of petrol
SATURDAY , 24 JANUARY 2004
By KAREN CHAN

Nearly everyone takes a hit in the pocket when petrol prices go
up. But few of those who shelled out an extra $2 for a tank of
gas after price hikes last week realised that nearly $1 of that
went to the Government.

In fact, of the $44.36 it costs to fill a 40-litre tank, $21.71
will pay for taxes, duties and levies.

So while much of the public outcry during last week's increase
was directed at the multinational oil companies that dominate
the New Zealand market, the extra money flowing into government
coffers re-ignited ire felt about taxes - not least because
another 5 cents-a-litre fuel tax has been proposed from April
next year to help fund the Government's transport strategy.

Road Transport Forum chief executive Tony Friedlander, who
speaks for truckies and road transport companies, said as a
"significant beneficiary" of last week's price hikes through
goods and services tax, the Government needed to re-think the
way it uses money raised through fuel.

"Too great a proportion is being siphoned off for other uses.
There is absolutely no guarantee the money is going to be spent
on improving roads," Mr Friedlander said.

He estimates just 25 per cent of the money raised through fuel
is spent on roads.

--------------------

Big Four oil firms over a barrel - one may quit NZ

SUNDAY , 18 AUGUST 2002
By GREG NINNESS

One of the "Big Four" oil companies could be forced out of New
Zealand as rising competition erodes profits.

All the major oil companies operating in New Zealand - Shell,
BP, Caltex and Mobil - had their profits slashed last year and
Caltex and Mobil traded at a loss.

BP's managing director Peter Griffiths said he would not be
surprised if one of the Big Four quit the New Zealand market in
the next few years. He would not say which company he thought
was most likely to pack its bags, but was adamant it would not
be BP.

"New Zealand is a very small market and the most isolated OECD
country in the world. It has the longest supply chain for oil
companies but the returns from this market are very poor," said
Griffiths.

None of the oil companies saw any scope to recover cost
increases by increasing margins, which meant prices should stay
keen for the foreseeable future.

The accounts of the major oil companies show all suffered sharp
declines in profits as they were unable to pass on higher costs.

The worst result was posted by Caltex which made a net loss of
$78.8 million from total revenue of $1.123 billion, compared
with a net profit of $12m in 2000.

Caltex, which also owns the Challenge! chain of petrol stations,
appears to have suffered from a major cost blowout. Sales were
up $118m while the cost of petroleum products increased $180m
and total costs rose $220m.

The company's balance sheet was also hammered. Assets increased
by $96m to $844m, most of which appears to have been debt funded
with liabilities rising $231m to $768m. A special dividend of
$71.5m paid to its overseas parent (compared with an ordinary
dividend of $12m in 2000) helped reduce total equity to $75.6m
compared with $211m in 2000.

Caltex's corporate communications manager, Niall Kramer,
attributed the company's loss to "a really, really tight market
with very thin margins".

He would not comment on the likelihood of one of the "Big Four"
quitting New Zealand. Asked if Caltex was committed to staying
here, he said: "We have just been through the Chevron-Texaco
merger. Nobody has had that discussion."

Mobil also had its profits squeezed between costs which rose by
$41m to $1.613b and sales which declined by $3m to $1.573b. This
produced an operating loss of $25m compared with a profit of
$28m in 2000. A tax credit of $9.16m and profits from associated
companies reduced the bottom line loss to $12.2m.

However, its balance sheet had been strengthened. A $55m drop in
assets to $589m was more than offset by a $173m decline in
liabilities, which lifted shareholders' equity by $18m to $235m.

Mobil has not declared a dividend since 1999 when it sent
$133.6m back to Texas.

Spokesman Peter Thornbury said the result reflected the tough
retail environment and price discounting which had become a
feature of the market.

The company was confident it could generate future profits and
was continuing to invest in facilities such a new service
stations.

BP was also squeezed between flat sales and rising costs which
pushed profits lower, although the company stayed in the black.

Revenue rose $5m to $1.537b while the cost of petroleum rose
$12m and total expenses increased by $15m. This reduced net
profit to $16.7m from $34.6m in 2000.

The dividend, which was set at $40m in 1999 and 2000 was reduced
by 75% to $10m.

BP also strengthened its balance sheet, with assets up $7m to
$690m and liabilities down by $37m to $553m, lifting
shareholders' equity to $137m from $93m.

Shell is by far the biggest player in New Zealand because of its
huge investments in oil and gas exploration and production, and
related areas such as chemicals. Compared with petrol retailing
those activities are extremely profitable and provided Shell
with healthy revenue.

In the four years since 1998, Shell has generated revenue of
$6.3b which had enabled it to declare dividends of $992m.

But even Shell was not immune from the profit squeeze which
afflicted its competitors last year.

Revenue was up $124m to $1.938b while expenses rose $264m to
$1.8b. Net profit fell from $191m in 2000 to $107.4m last year.
When activities such as oil and gas production and refining are
removed, the remaining profit is $31.1m compared with $62.4m in
2000.

Shell executive director Bruce Emson said the figures showed
what the oil industry in this country has been saying for some
time. "We beat this drum but nobody ever believes us - we are in
an increasingly competitive marketplace and the performance of
the industry has been pretty poor compared with previous
years," he said.

Emson believed competition would get even tougher. "In New
Zealand we have increasingly competitive pricing regimes and
increasingly competitive market players like Gull (in the North
Island) which operates off a different cost base to the rest of
us and is a very efficient player. And (supermarket chain)
Foodstuffs has announced it is getting into petrol retailing
next year. So competition will continue and I expect for the
next year or two or maybe even longer, it will keep getting
tougher."



 
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Rob
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Posts: n/a
 
      08-31-2005

"XP" <(E-Mail Removed)> wrote in message
news:(E-Mail Removed)...
>
>
> Just heard on the New that Petrol is going up because of the US Hurricane
>
> But we have a 90 Day stock here, and that new price would not hit here

for
> some Months and it was Only the US price.
>
>
> Plus on the BBC World news it just stated it was a Blip and the price

went
> back down to what it was before.
>
> Even the DOM listed it as a Blip..
>
> Its about time the Government got off its Arse and did some think about

this,
> as all the Petrol firms here are a Cartel and making millions out of

this..
>
>
> Competition just does not work here at all.
>
>


I won't be able to afford to run my computer at this rate!


 
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Mutley
Guest
Posts: n/a
 
      08-31-2005
XP <(E-Mail Removed)> wrote:

>
>
>Just heard on the New that Petrol is going up because of the US Hurricane
>
>But we have a 90 Day stock here, and that new price would not hit here for
>some Months and it was Only the US price.
>
>
>Plus on the BBC World news it just stated it was a Blip and the price went
>back down to what it was before.
>
>Even the DOM listed it as a Blip..
>
>Its about time the Government got off its Arse and did some think about this,
>as all the Petrol firms here are a Cartel and making millions out of this..
>
>
>Competition just does not work here at all.
>


I wonder the same about the 90 day stock which I believe we had an
addition 1cent added to the price recently to help the oil companies
take their stock to 90 days. But hey you do know that the oil
companies have a fleet of B747s that ever nite fly this new high
priced fuel to NZ every nite just so that we won't have to use that
old cheap stuff they flew over last week..
 
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dersu
Guest
Posts: n/a
 
      08-31-2005

"XP" <(E-Mail Removed)> wrote in message
news:(E-Mail Removed)...
>
> Its about time the Government got off its Arse and did some think about
> this,
> as all the Petrol firms here are a Cartel and making millions out of
> this..
>

I agree that it's about time the government did something about the cost of
fuel. It is not the fuel companies I blame though it is the bloody
government that is taxing the hell out of the motorist. What the government
should be doing is reducing the outrageous amount of tax that they are
stealing from us all with every litre.

D.


 
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Waylon Kenning
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Posts: n/a
 
      08-31-2005
T'was the Wed, 31 Aug 2005 16:08:35 +1200 when I remembered XP
<(E-Mail Removed)> saying something like this:

>Its about time the Government got off its Arse and did some think about this,
>as all the Petrol firms here are a Cartel and making millions out of this..


I reakon. I saw the story in the paper the other day about the dairy
owner who has the northern most petrol pumps in New Zealand, and he
was making at least 2 cents a litre off petrol!

2 cents! That's like 0.013% of the total price! I only wish I could
charge those margins on computer parts
--
Cheers,

Waylon Kenning.
 
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MarkH
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Posts: n/a
 
      08-31-2005
Waylon Kenning <(E-Mail Removed)> wrote in
news:(E-Mail Removed):

> I reakon. I saw the story in the paper the other day about the dairy
> owner who has the northern most petrol pumps in New Zealand, and he
> was making at least 2 cents a litre off petrol!
>
> 2 cents! That's like 0.013% of the total price! I only wish I could
> charge those margins on computer parts


Maths not your best subject eh?

I think that you will find it much closer to 1.3%, you were only out by a
factor of 100.



--
Mark Heyes (New Zealand)
See my pics at www.gigatech.co.nz (last updated 16-August-05)
"The person on the other side was a young woman. Very obviously a
young woman. There was no possible way she could have been mistaken
for a young man in any language, especially Braille."
Maskerade
 
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Harry
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Posts: n/a
 
      08-31-2005
Waylon Kenning wrote:

> T'was the Wed, 31 Aug 2005 16:08:35 +1200 when I remembered XP
> <(E-Mail Removed)> saying something like this:
>
>>Its about time the Government got off its Arse and did some think about
>>this, as all the Petrol firms here are a Cartel and making millions out of
>>this..

>
> I reakon. I saw the story in the paper the other day about the dairy
> owner who has the northern most petrol pumps in New Zealand, and he
> was making at least 2 cents a litre off petrol!
>
> 2 cents! That's like 0.013% of the total price! I only wish I could
> charge those margins on computer parts
> --


That isn't the true margin. Most small petrol retailers also
adjust their pumps to deliver less fuel than is metered.
Take a calibrated can to any pump and find out for yourself.
Most owners will also say "... but it was just checked yesterday ...".

So while you might grizzle about petrol costing $1.40/liter most
people are totally unaware that they are actually paying about $1.60/liter.


 
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Bret
Guest
Posts: n/a
 
      08-31-2005
On Wed, 31 Aug 2005 18:38:15 +1200, Waylon Kenning
<(E-Mail Removed)> wrote:

>T'was the Wed, 31 Aug 2005 16:08:35 +1200 when I remembered XP
><(E-Mail Removed)> saying something like this:
>
>>Its about time the Government got off its Arse and did some think about this,
>>as all the Petrol firms here are a Cartel and making millions out of this..

>
>I reakon. I saw the story in the paper the other day about the dairy
>owner who has the northern most petrol pumps in New Zealand, and he
>was making at least 2 cents a litre off petrol!
>
>2 cents! That's like 0.013% of the total price! I only wish I could
>charge those margins on computer parts


Perhaps you would like to purchase at those margins, cos if you want
to sell at those margins you will find plenty of customers.
 
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Matthew Poole
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Posts: n/a
 
      08-31-2005
On Wed, 31 Aug 2005 18:23:09 +1200, someone purporting to be dersu didst
scrawl:

>
> "XP" <(E-Mail Removed)> wrote in message
> news:(E-Mail Removed)...

*SNIP*
> government that is taxing the hell out of the motorist. What the government
> should be doing is reducing the outrageous amount of tax that they are
> stealing from us all with every litre.
>

You realise that if the Government were to remove all taxes except GST
from petrol, the price would still be over a dollar per litre? Current
price excluding all tax is almost 89c/L.
Doing so would, of course, require that the funds generated be made up
from some other part of the tax base.

--
Matthew Poole
"Don't use force. Get a bigger hammer."

 
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