Price control petrol
Posted by John, January 31st, 2009 - under Petrol.
Tags: ALP, Australian politics, Capitalism
My local petrol stations (and presumably in the name of ‘competition’ this occurred across most of Canberra) increased their unleaded price on Thursday from 91 cents to 124 cents per litre. Even leaving in GST and excise, this is an increase of about 36 per cent.
There appears to be no reason for this increase other than “extreme” capitalism in the form of massive profit taking. This makes Wall Street bankers look like angels.
I wonder if this increase (to line the pockets of the garage owner and oil companies and distributors) by fueling (pun intended) inflation will have an adverse affect in the long run on RBA thinking about interest rate cuts?
So can I suggest to Rudd and Gillard that they tackle this extreme capitalism head on? Price controls on these bastards might be the way to go. Or nationalise the whole industry and cut out the profit gouging of extreme capitalism.
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Comments
Comment from Arjay
Time February 1, 2009 at 12:21 am
the problem is that we have lees competition with fewer independant fuel outlets.Both kevin and John Howard have failed to give the consumer watch dogs real teeth,eg preditory pricing,and screwing the wholesalers etc.
Fix the price of fuel and there will be shortages.We need more competition.
Comment from Adam
Time January 31, 2009 at 7:42 pm
Easy way to put a stop to service stations doing this: go to the servo on monday or tuesday with a jerry, fill your tank and the jerry.
Ta-da, no more weekend refuelling!