https://www.afr.com/politics/federal/oil-prices-surge-as-wor…
Looks like petrol prices ain't coming down and
Aus retailers just need excuse to increase prices
Oil Prices Surge as World on Edge over Ukraine
life is suffering on 14/02/2022 - 15:56
Last edited 14/02/2022 - 17:00 by 1 other user
Last edited 14/02/2022 - 17:00 by 1 other user
Comments
The cash rate will never go up to +6%.
People should get used to low cash rates for the next 20Y.
Based on what exactly?
Based on the +$600B national debt.
The feds will keep 🖨️ 💵 to pay 👵 debt with new debt.
It's the fiat money 💀 🌀.
@rektrading: Run away inflation if rates don't increase.
It's a mistake to think the RBA controls interest rates in Australia, they can only influence a few points up or down.
Australia is a victim of US and overseas rates, they need to keep parity or our currency becomes devalued. We're an importer.
If the US can keep rates steady we're safe, if not we and the world follow.Funny seeing first home buyers praying for higher rates. They'll need to still pay the big deposit, then they'll need to pay 4.5k per month instead of 2.5k.
@Dorge: Jerome Powell isn't going to raise the cash rate in any meaningful way to nuke the US economy.
People that are hoping for a +6% cash rate need to calm down and take a seat. It won't happen in their lifetime.
@rektrading: The cash rate climbed from 0.25% (GFC levels from 2008-2016) to a peak of 2.5% from 2016-20 then Covid hit. Dropping rates to 0% in response.
They are chasing out of control inflation now, inflations at 40yr highs. I think it's conservative to think they will be 1% by the end of the year.
I would expect them to increase from there, going plus +2.5% looks easy.
@Dorge: that was before the massive QE
today, the same tool cant be used anymore
rates will need to go up, but definitely not by much before they see the economy runs into all sorts of trouble
@Dorge: Yes, you are correct
The FED raised rates to 2.5%in 2016/7 just to "normalize them.
So was just a routine rate increase back up from emergency rates which were no longer considered necessary.We now have runaway inflation in both US and Australia and probably in many other countries as well which we haven't seen for decades
The so called experts tried to tell us it was transitory however Its now being fueled on may fronts so will be difficult to get under control.
Biden's mega spending plan, if it goes ahead is only going to add a lot more fuel in the US.The FED will try to scare people by raising rates by 0.5% in March and then smaller incremental increases thereafter for the rest of 2022. So they will easily get back up to 2.5% within 12 months If this doesn't work who knows how much higher they will need to go to get inflation under control.
And again as others have said the RBA will have to follow suite otherwise risk an AUD currency collapse to 60c and below which will see imported goods escalate by 20%-30%. Of course OS holidays will also rise by the same so dampening our appetite for OS trips. This will then put pressure on domestic holidays as it has over the last 12-18 months.But as others have pointed out The FED and RBA are walking a tight-wire.
They have run-away inflation in one hand and massive debt in the other.
Which one will weigh down more on the RBA,…high inflation or a debt crisis?The problem is that the published CPI figure does not reflect the real inflation rate and the real threat.
I made a post here a while ago asking what OBs thought the true inflation rate was and by far the most thought it was between 10% and 20% and I tend to agree.
Its much the same in the US with real inflation running closer to 15%.
So we have mega problems now on both sides fueled by massive government spending policies, ongoing COVID-19 shut downs and ultra low interest rates..
Will be a very interesting 2022
People that are hoping for a +6% cash rate need to calm down and take a seat. It won't happen in their lifetime.
That is what Christopher Skase said back in 1990s … although was referring to +15%
It will not happen overnight … but it will happen
(copycat'ed from some hear shampoo or cream thingy) :-)
@rektrading: When I got my first mortgage at age 21 or so, interest rates were 12% and I was told by all experts that I should not fix my mortgage rates as they could only go down… I lost my first home (and therefore my 1st home owners subsidies, at 20% interest rates a year later…. I think people want interest rates to go up now to stop real estate from going up in price. They are less worried about repayments (!) and more concerned about getting a deposit to get into the market….
@rektrading: I couldnt give a rats which gladhanding flunky got handed the job of US central banker as a retirement gift from Goldman Sachs. No one chooses 10%+ inflation rates. But when they come along, the central bank is basically a pimple on an elephant's arse. Its very simple. If you keep cash rates at 0% when inflation is running at 10%, then you end up in an inflationary spiral whereby people borrow free cash now to buy the goods that they know will be worth 10% more in a years time.
When you get to that point, you then have two choices:- hyperinflation, or currency controls.
The only way rates will stay low is if current cost push inflation is a momentary blip caused by Covid. Some of it is, and some of it isn't. A lot of basic commodities have been getting more expensive for a long time. For quite a few years now, this was being counteracted by ever decreasing prices of value-added goods, mainly from China. But not anymore.
@rektrading: It happened in my lifetime (and probably yours) - double actually - so let's see what happens.
Interest rates are a double-edged sword, so there are ample opportunities to make money if they go up
@R4: Australia is +$600B in debt while the US debt bill is $30T.
They can't pay the interest now at a low cash rate. They'll get rekt when they raise the rates.
@rektrading: Maybe, but in reality whether interest rates go up here will largely be decided by what happens in the US. Out of Australia's control basically.
@rektrading: Couldn't agree more with this
"Australia is +$600B in debt while the US debt bill is $30T.
They can't pay the interest now"
The numbers have got so high they have lost relevance. Might as well be 70000 gazillion dollars in debt. Makes no difference.
Just creates a bigger divide between the haves and have nots.
Property mogel just borrows against property value to pay for $40/ L petrol.
Nursing home worker works all day just to be able to drive to work.
Next time you get denied something at work due to lack of budget …tell em just to print more. Government do it, it's Fiscal policy. We do it, it's a crime.
@Dorge: Higher interest will hopefully drive house prices down, as people aren't taking out million dollar loans like its nothing….
Two-thirds of Australian government debt is held by non-resident investors
Interest rates in Australia need to stay attractive (high enough) so our international creditors stay onboard.
@BigBirdy: Mainly the US, Japan, UK and of course in shares which are held by organisations like Black Rock etc!
@BigBirdy: Yep. If the US and Europeans move and the RBA doesn't, the carry trade will evaporate, and Australia will have to look elsewhere to fund its current account deficit.
Never say never, however 6% certainly isn't realistic for many many years.
I tend to agree with this.
even a few % higher interest rate will rekt people…..have people seen the average house price in
sydneyeverywhere in Australia at the moment? double digit growth but wage growth of ~2%…. doesnt require a maths genius to see an issue herePeople are leveraged to the eyeballs at the moment.
6% this year is completely impossible, barring the economy collapsing and hyperinflation taking hold.
6% are you serious? Do you understand what a catastrophic affect that would have on the economy. This would require additional money that would come out of the budget to pay the interest on our debt and there would be a huge upward pressure on our exchange rate thus killing many of our export industries. Mortgage rates would skyrocket and many many people would be unable to repay loans. And guess what those people and the rest would tighten their belts and there would be a massive drop in demand and a huge increase in unemployment. Housing prices would fall but guess what the only people who would benefit from this would be the ones with high paying jobs and plenty of money, not your aspiring first home owner. Share prices would fall, super balances would take a massive hit.
Yes these people are taking a risk with big mortgages but it's ordinary folk who would suffer the consequences.
There will be a rate increase probably a few by this time next year but may be 50 to 75 basis points and it's probably needed but 6%, your dreaming.Whilst I agree with you, to play Devil's Advocate - are you aware of The Great Reset?
Basically the idea is to flood markets with cheap loans the last decade or so, then raise them when inflation starts to run away but force wages to remain low (through mass immigration, use of robots to take away jobs or ESG/social credit system to put barriers on peoples employment) so the far majority of people can't afford anything apart from paying the interest on the huge loans they took out because that was the only way to own a home the last decade. When asset prices crash, the only people who will be able to afford them if inflation continues but wages remain low are the likes of Vanguard or Blackrock with their 7+ trillion of dollars assets, each, to then rent back to us. The plan is also to restrict those who are allowed to work in a decent paying job through social credit systems to keep the majority of people in perpetual serfdom to the World Economic Forum leaders. As you may be aware, many banks and governments around the world will only fund or grant money to organisations that have an acceptable ESG score.
As they have told us "By 2030 we will own nothing, and be happy". I'm not saying it's true, but if it wasn't - what would they do differently to achieve the outcome they have told us for many years they want?
The Great Reset?
Bitcoin 🔧 this.
The IMF wanted to fk El Salvador over before they would give them a $1B loan.
El Salvador said eat my 💩 and made Bitcoin legal tender, started to mine 🌋 Bitcoin and is now issuing a $1B Bitcoin bond.
@rektrading: It doesn't matter if the new draconian powers that be control all electronic communications and can enact 'emergency powers' to watch over all transactions and imprison the regime's undesirables if they solicit donations - as Justin Trudeau enacted as of this morning against the working class trucker protests.
It also doesn't help that ledgers are public and make it very easy to be tracked and traced. Also don't you find it really interesting how the hackers for the oil pipeline had their private keys to the ransom money found despite using Monero washing services? SHA-256 was made by the NSA after all and Satoshi Nakamoto does translate to 'central intelligence'.
@studentl0an: They don't control the network.
Satoshi designed the network to be P2P. This has been tried and tested for 13Y. It works.
El Salvador was the first country to use it nationally. Canada because of the censorship will be the second high profile country to use it as P2P.
Russia will be the third to use it if they're forced into a corner.
https://www.ozbargain.com.au/comment/11765143/redirGm fam,
Today is a great day.
This is for the people that haven't been following Putin and how he will change the world.
”Ursäkta språket – men vi skiter i västs sanktioner”
https://www.aftonbladet.se/nyheter/a/RrnBR5/ryssland-kan-int…We don't give a 💩 about sanctions.
The next country will be China when they take Taiwan.
Also don't you find it really interesting how the hackers for the oil pipeline had their private keys to the ransom money found despite using Monero washing services?
I don't find it interesting because the key was on the server. The feds filed a court order to use the key.
https://www.justice.gov/opa/press-release/file/1402056/downl…The hacker's Bitcoin address bc1qq2euq8pw950klpjcawuy4uj39ym43hs6cfsegq
https://bitinfocharts.com/bitcoin/address/bc1qq2euq8pw950klp…@rektrading: They control the networks that every network, including bitcoin, runs on. It's like saying they don't own your car.. sure but they control the roads, petrol stations, licensing conditions and if spare parts are allowed into the country or not. With the draconian crackdowns on freedom that we have seen the last few years - it won't matter if the network is compromised or not when you literally face jail time for using the service. They make the rules, not us plebs anymore.
On the topic of cars and not making rules, did you know that part of Biden's economic stimulus bill was that all new cars made from 2026 onwards will require a remote kill switch? https://www.musclecarsandtrucks.com/biden-infrastructure-bil…
I'm sure that will never be abused or used against dissidents…
Back to BTC I find it strange that you make a lot of (IMO correct) comments about how govt lies to us all the time, yet would use that government document as proof that SHA-256 has no backdoors. Do you really believe that people who are capable of puling off the ransom just kept their key for any LEO to access without breaking encryption? Surely you must have some reservations? Or would admitting that be bad for business?
They control the networks that every network runs on.
The only way to shut down the network is to shut down the Internet. The damage to the world economies would be unquantifiable.
This case was filed in U.S. DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA, SAN FRANCISCO. Address US District Court Clerk, 450 Golden Gate Ave, San Francisco, CA 94102, United States.
Kraken, a US crypto exchange has an office 6 min from the Courthouse at 237 Kearny St #102, San Francisco, CA 94108, USA.
I'm by no means a blockchain forensic but it doesn't take one to connect the dots.
The Victim X sent 75 BTC that they bought from OKEX to https://bitinfocharts.com/bitcoin/address/15JFh88FcE4WL6qeML….
The feds followed the BTC from 15JFh88FcE4WL6qeMLgX5VEAFCbRXjc9fr and waited until someone tried to cash out the BTC to fiat money at bc1qq2euq8pw950klpjcawuy4uj39ym43hs6cfsegq (the "Subject Address").They then filed a warrant with the Court to use the key.
@rektrading: I have wrote how they will control the network, through controlling the internet and jailing people who use it once they make it illegal. It's happened now in Canada as of this morning, banks are freezing the assets of people who went to the truckers protest after Trudeau enacted emergency powers to suspend the human rights of who he deems undesirable.
Please tell me how you intend to access the internet when it's either illegal to do so, or all the devices you use to access the internet are now all forced through a government firewall?
Again, if you believe that those who are capable of the ransomware put the entire amount onto an exchange wallet, or anywhere a key could be accessible - I don't know how to argue against that. I think you need to at the very least have some nuance about it and accept that it's very possible that the feds are not telling the truth - something which you say all the time.
@rektrading: Of course it is - but it's of course possible that SHA-256 backdoor (or other backdoor) was used to put the BTC into that wallet, or move it around to then be seized.
We are talking about a sophisticated ransomware group who would have been aware of all of this yet they still put all of the money into an exchange wallet? That seems really fishy to me.
I'm not saying that it's the case. I'm saying it's a possibility and for someone like yourself who makes a lot of comments about governments lying - it seems a bit weird that you seem so sure to think they must be telling the truth this time.
@rektrading: The IMF doesn't want to see the money it lends to El Salvador being gambled away on bitcoin. That's perfectly logical and rational.
Imagine yourself lending money to a family member who then says 'Oh, thanks, I'm off to the casino to double my money!'
@Cluster: El Salvador doesn't want or need IMF trash loans.
BREAKING 💥 El Salvador considers raising $4 BILLION through additional #Bitcoin bonds 🇸🇻 https://t.co/27xJ8vMUwx
Bitcoin is legal 💵 in 🇸🇻. They're mining Bitcoin every day to buidl, unlike the USD trash that is controlled and inflated by Biden & Co.
And government wouldn't do something that would so obviously harm the econom… oh wait… they already have been for two years now.
Whoever said cash rate will top +6% I believe they are living in Mars, please land on earth and understand the reality. Most state government coffer runs on stamp duty and moreover if the cash rate increase to +6% , I think my rough calculation majority at least 30 to 40% of Aussie will go broke or most will increase their rental to somewhat adjust their repayment. The last option will be going broke. So don't overthink or dream too much RBA may raise interest rate maximum of 2 to 2.5% beyond that it is not affordable for the economy. So stop squealing like a stuck pig and start saving to have your own roof.
If you read newspaper articles and believe it then you are wasting time. They write articles to cover the space but the reality is different.
The cash rate right now is 0.1%, the lowest it has ever been. The average mortgage rate is what, 3.x%? So even if the RBA cash rate is 2-2.5% the rate charged by banks will undoubtedly be higher, probably 4-5% which is very close to 6%.
You don't seem to understand that inflation hurts everyone; the poor, the rich, home owners etc. Do you think people who took out stupid sized loans and followed the market like sheep deserve to be taken care of above everyone else?
Wrong. Inflation only hurts people with no assets. It benefits people with assets, especially if they've taken credit to acquire said assets.
This comment infuriates me. I am one of those that took out a loan with my young family. Our house cost way more than it would have two years ago. Where we started looking and where ended up are considerably different suburbs. It absolutely suck that my mortgage is so high. I guess your eyes my family is stupid. I am also well aware that interests will go up - everyone is.
People need to live. People want to settle down with their families. Renting is really hard and expensive long term.
Wishing people who have bought houses to suffer from high interest rates is really average take on the situation.
Wait, you knew your mortgage was stupidly high (I sure hope you're not spending more than 30% of your after tax income on housing, or that you lied on your mortgage application, or that you relied on the bank of mum and dad and used them as guarantors — a dangerous practice that is becoming prevalent by FHBs in this country) but you still bought anyway? Did you even think about what would happen if rates rise, or did you just assume that rates would remain low forever, especially after years of low rates, and especially during a pandemic when it was obvious to everyone that the RBA was printing money? Do you know what happens when large swathes of cash is printed and fed into the economy? Something called inflation tends to follow. And do you know how inflation is combated? By raising interest rates.
See that's the thing that especially worries me, people like yourself who have frankly, IMO, FOMO'd into property in the past few years don't seem to understand macroeconomics. You took that mortgage out on your own accord. You (presumably) DYOR. You ensured you could afford the mortgage, the banks even stress test loans. So you should not be worried at all because I'm sure you can service the loan, right? The banks stress test to at least a few percentages up from your actual rate. You'll be eating rice and beans if it happens, but at least you can still pay for your house. Unless of course you lied on your loan (another thing that I'm sure happens often in this country, which is why FB marketplace is flooded with people selling their crap probably because they are already feeling the strain).
As someone who rents, it's hella ironic you're telling me it's hard and expensive (although a mortgage could easily cost more than rent anyway).
Every man and his dog in this country and planet wants a property of their own (i.e. to live in, NOT an investment property), but property investors keep going out and buying them using equity that comes out of thin air because some rando said "yeah your house is now worth $200k more" poof free money. Investors don't care about anyone but themselves, so the logic I'm using here is the same — I don't care about people who FOMO'd into property, they made their bed so they have to sleep in it (I don't disagree this attitude is extremely toxic and selfish either). Blame investors, not me for why you had to pay such a high price and why when rates go up you're going to feel even more of a squeeze.
I advise you to fatten up your offset account as much as you can before June. Eat beans and rice for the next three months, because the official rate is 0.1% and the average mortgage rate is 3.x%. Banks have already hiked, so when the RBA increases by 0.25% or 0.5% that will be multiplied by the banks. A 0.25% increase could easily result in a 1% increase by the banks.
I honestly think at 2% houses should be around the $700k range especially when they're 30-40 mins out of the CBD. Just because you go to an auction and some bloody idiot pays $1m for a run down piece of crap house (fine, the land is what they're buying but it's still not worth it) doesn't mean they have any idea what they're doing. I mean, look at this idiot who bought an overpriced property to renovate when they have never even renovated a house before. I don't even care if they make profit on it, this is not sane behaviour. You don't go acting like you know what you're doing just because you like watching The Block, unless of course you don't mind shoddy craftsmanship because who cares — you're going to sell it anyway.
I don't think the rest of the country (especially those who are saving diligently in the hope to buy one day) should suffer inflation to protect FOMO'ers honestly. I don't think the people on welfare who either can't work or are disabled, or people trying to make ends meet, or elderly people on the pension should be punished via inflation to protect people who FOMO'd into property either. You don't seem to realise that inflation hurts everyone, but rising rates only hurt borrowers.
TL;DR Seems you FOMO'd into property, you're not the only renter who wants their own house, why should the nation protect borrowers when inflation will ruin everyone else. There are so many issues that are stemming as a result of how this nation treats property as some get-rich-quick scheme and it is frankly stupid and dangerous.
TLDR
Buy hard assets 👉 wait for appreciation 👉 borrow fiat 💵 👉 buy more hard assets 👉 🔃.
Interesting reading. Although I think some of your points are off by a bit.
I worked for a bank for 21 years. They aren't going to raise rates much beyond the RBA's rises. They'll be well aware that the prices have been artificially inflated by FOMO. At least, upper management will. They'll just blame a bunch of other people, like the brokers or the peons selling the loans. However, the massive write down from large housing losses would be bad for the banks. So they'll raise rates, but only just above the cash rate. The bad part will be when the US, UK and Euro markets / banks raise rates. Australian lenders borrow heavily from overseas, so rate increases from overseas investment lenders will see out of cycle rate rises here too. The banks won't eat all those rate rises that hit their profit margins too much. They have large investors to appease as well.Personally, I'm with you in the lack of sympathy for people who go out and buy houses in places like south west Sydney for $1.2 - $1.5mill for these small 4 or 5 bedroom homes on 300-450sqm of land. Often the asking price will be up to $100k less than the selling price.
The people I do have sympathy for are the next generation. Those teenagers now, who will, at current rates, never afford a home. I can see banks here coming up with intergenerational home loans. Loans that go beyond 30 years and are made for the children to take over when they inherit the house. How else will people be able to afford them?
As for rate rises, I think we'll see no more than 0.5 - 0.75% this year. Too much and the economy will be hit too hard too soon. Should it? Sure, but I'm an arse. Let it all burn.
@AuSlade: Property isnt expensive.
We are pack animals, and buying property near the pack is expensive.
Step outside, and cheap houses are everywhere.
Im selling my 3 bedroom house for $140k.
A 4 bed house with big yards and a pool will set you back about $320k.
Its close to the beach, no traffic going to work, 300 full sunshine days per year year, has a shopping centre and you can get a job paying $100k+ even if you have zero qualifications.
You couldnt pay me to live anywhere near Sydney. Why people are paying for such a shitty lifestyle is beyond me.
Pre covid we would do 2 -3 international holidays per year with combined incomes of $120k after tax. House payments are about $100 a week.
Plenty of cheap housing out there.
@tunzafun001: Firstly, I didn't neg you. I honestly think that in order to neg someone you have to comment.
Secondly, housing, in most of the eastern seaboard of Australia is hellishly expensive. When you take into household income, I'm starting to think when rates rise (not if, when), a heck of a lot of people will be in significant trouble. People really seem a little shallow in their thinking. Even the banks do it when assessing a loan. Their thinking is this: Expenditure is $xx /month and current rates are 2.3%, if we assess this on 5.3% you can afford it. Sure… Now… However, by the time we see 5.3% loan rates, the expenditure would have gone up as well, more than likely higher than the income would have.
Tada… Mortgage stress.
As for your extreme example. You provided no details as to where you live. Which State ? Suburb ? What are the standard job prospects ? Could the region accommodate a large intake of people and sustain them all?
I'm sure we'd all love to be paying $140k for a house, making $200k a year and living the life of luxury. My parents moved from Canley Vale to Leumeah in the mid 70's and I've grown up in the Campbelltown region of NSW ever since. My first "house" was a 2 bedroom villa. We've bought, sold, made and lost money. That's life.
For a lot of people, living in a remote location just isn't possible, and for others, it's not what they want. I want my daughter to have the best education I can give her, with the choices I can provide, and that may not be possible in a smaller, remote place. Paying idiotic amounts for housing because we have a population that's growing faster than the housing market can keep up with is not a sustainable system. Eventually it'll all go bang.
@AuSlade: Yeah, all good on the neg. Neg away people. Truth hurts.
Totally agree on your sentiment. The rate rise with an inflation kicker is going to pants a lot of people. In desperation, crime rates go up, society turns on itself…etc etc.
I can't for the life of me work out how for example, Coles has any workers in Sydney, or how you have any teachers etc? The numbers don't crunch. Teachers must either be old (and bought property early), or all be in share houses?? I dont get it?
My example is Whyalla in SA. A city built in the 60's for ship building. Lost half its population, now all coming back for steel making, building lithium plants, solar farms, desalination plants etc etc. Housing, jobs, facilities, beach, weather. It's all there. But there are heaps of these around in WA, SA. The East coast is an over cooked pressure pot.
If you want the best education. These places are infinitely better. I know this first hand working in a regional city and then coming back to one of the most prestigious schools in the state. It was an absolute shit show of egos, old ways and disorder. All under the cloak of a label. Avoid.
Honestly people, jump on Google earth, jump on realestate.com, jump in the car and have a look.
Neg away….
TL;DR you seem like a pretty average person
@Gowrie29: I hope you can cope when rates increase. As I said, better get on the rice and beans now.
If it keep follow the yellow/yolo arrows then we're all doom lol https://www.tradingview.com/x/yJq5PeZX/. I forgot a few details https://www.tradingview.com/x/5Tkuk0rd/
Looks good. Fewer people will be driving means less traffic.
I dont like it thou, it gonna a misery society …
They just Tryna make an extra buck b4 the alien invasion
Lucky to be still WFH
Puts a further nail in the coffin of the (de)central(ised) business district.
WFH for the win, 1 tank lasts a month rather than a week so I'm still better off.
Quite a narrow way to look at this issue.
Just because you don’t have to fill up at the bowser doesn’t mean that the trucks that ship goods around the country somehow don’t use petrol to get around.
High oil prices increase the cost of everything.
Correct, trucks don't use petrol, they use diesel.
And the story is behind a paywall, so that kinda narrows my view a bit (1st paragraph I believe).
Semantics, but ok, I should have said diesel, it is still derived from crude oil as you are probably aware.
12ft.io is a thing FYI.
@Brian McGee: It’s a website that helps to remove paywalls on articles, so you don’t have to use an excuse that you can’t read the article and there’s actually nothing dodgy about it at all, but yeah, everything must be a conspiracy… better stock up on that tinfoil.
@macfudd: Saying something is dodgy can mean various things, for example that it’s untrustworthy.
I don’t disagree that bypassing a paywall is basically stealing, gotta do what you have to to save for a house these days. If housing was cheaper I’d be more willing to subscribe.
@macfudd: Google is already paying for news that is behind the wall. consider this is as being paid for in advance.
Dude high fuel costs affect supply chains (trucking and freight trains) in Oz and those prices are passed on as higher costs for the goods we purchase.
What do you think container ships that deliver goods to Oz run on? Hmmm…..
I don't know a fuel type called Hmmm.
figures
bunker c
Feels good to drive a hybrid and get 5-6L per 100km
Don’t need a hybrid for that - can get close to that from a diesel golf.
:(
Before or after the VW emissions tracking software kicks in?
laughs in 2015
hah, under-rated comment
Diesel cars use the least amount of petrol
None in fact
In particular those using clean diesel :-o
I get 100km for 4.9 - 5.7L on the highway in a non-hybrid with eco tires.
Hybrid is nice for the city or short trips to supermarkets, otherwise, the difference is not so significant.
Also, you need to factor in the higher original price for the hybrid. usually only pays for itself after 80,000 - 100,000 km which is again useless if you only to short city trips. The average driver does like 15,000km a year.
i get 6L/100kms in traffic and 5L on highway with 2.5L Rav4 Hybrid without Eco Tires.I think i will recover the extra cost on Hybrid compared to same Rav4 (non hybrid $2.5k* cheaper) version with in 32,000kms* i.e. < 2.5yrs for me. Given the cost of petrol right now, it wouldn't take that many kms to recover the cost.
Prices and kms are estimated only*
Pays for itself just before it needs new batteries, just in time for owners to start paying for it all over again. ;-p Mind you, most won't own the car that long anyway… after all their talk of "saving money on petrol and the environment", the vast majority of people who buy shiny new toys like these will get the itch in a year or two and "need" to buy another one, and nearly all the rest of them by year 3 or 4. Meaning in reality they saved nothing, spent more, buy again, so never stop paying - the piddling amount they saved on fuel is wiped out by the tsunami of depreciation, high repair costs, needing to buy another one, etc.
Making things even worse, lots of people compound their "I'm saving money and the environment" fantasy by putting their shiny new toy on their home loans… meaning they're paying them off… sorry, I should say, paying MULTIPLE cars off because again they don't keep them long enough to "save" anything… for the entire 2-3 decades it takes to pay out the loan.
Less fuel and environment are their excuses. The reality is they're not helping the environment or saving anything by buying a new car every 1-4 years. The person driving the 10+ year old non-hybrid, that has already depreciated, and has no batteries, is. They buy it cheaper, either without a loan or pay it off much sooner, can be repaired by any mechanic without specialised proprietary diagnostic equipment, and at the end of its life either gets a respray and trim and lives another 40+ years, or gets melted down to make another shiny new hybrid for another person fooling themselves. ;-D
Get a hybrid for the benefits - nicer driving - no smoke when stopping - and it needs less maintenance
Jeez that’s… actually pretty terrible for a hybrid. My petrol powered VW averages 4.6L/100km over a tank. This is 80% city driving. And I have a mean right foot. Sub 4 on a highway run.
Which VW?
Probably something 1L turbo DSG
He's getting less than advertised (unheard of) for a 1.0L ULP Polo, so must have come back from the future with VW's next generation ICE engine.
@nigel deborah: I had a 1.0 turbo Suzuki baleno, internal clock averages 4.5/100km
Reality was using around 5-5.5.I would put $20 in and would say 300km, but only get like 250.
@nigel deborah: Not the future, 2015!
I drive an Up! guys - no turbo, no DSG, no diesel. Though I am of the understanding that the 3cyl engine has since been turbocharged and used in other VW’s (The current gen Polo and T-Cross IIRC). It’s an absolute peach.
My record is 910km on a highway run, 35L tank = 3.81L/100km.
A usual tank gets me 750km. That’s 4.6L/100km.
Been like this for a while now.
Gm fam,
Today is a great day.
This is for the people that haven't been following Putin and how he will change the world.
”Ursäkta språket – men vi skiter i västs sanktioner”
https://www.aftonbladet.se/nyheter/a/RrnBR5/ryssland-kan-int…We don't give a 💩 about sanctions.
Prices came back so hard after global lockdowns ended.
came back? They've soared to record heights. $1.99 for 91 unleaded? Thats extortionate.
Aus retailers just need excuse to increase prices
Since when do they need an excuse to raise prices ???
FFS get the invasion over and done with and we can get on with life
Buy a Tesla? Or any of the other completely and utterly inferior electric vehicles. /s
elon is a giant (foul language) but even at this rate you'd give him the money so you can avoid servos… forever
its like amazon… you know Bezos is the worst but you cant beat those savings!
I refuse to even look at Amazon. Signed up to a free trial to prime yo watch something, then cancelled. That’s as far as I’ll go.
Just what we all need, higher petrol prices.
Let’s hope Lowe grows some balls and increases interest rates. I hope the cash rate reaches 6% this year to cool prices. The RBA’s inaction is just protecting people who took out stupid $1 mil loans on houses assuming rates will never go up for the next 30 years whilst savers are punished. Makes no sense.