Graphic indication of Australian petrol price ripoff

There has to be a relationship between the cost of petrol in Australia and world oil prices. The ACCC has been in the news lately making various claims so I thought I would compare trends between world oil and pump petrol prices. I got world oil data from IndexMundi and ULP from the AAA. Full size chart.

Using these data the chart shows a period of relative price stability during all of 2010 where I am assuming no oil companies were going bankrupt – so the chart axes have been adjusted to bring WTI and ULP prices close for that period. 2011 saw world oil prices rise in AU$ but there was a period from Jun to Oct 2011 when the reduced WTI price produced no flow-on reductions in pump prices. Then again from Jun 2012 to Apr 2013 the reduced WTI price produced no flow-on reductions in pump prices. B marks a three month period where motorists might have clawed back some losses.
Then there was 12 months of relative price stability from Oct 2013 to Sep 2014 before the world oil price began its prolonged crash which is not ended even today. It is obvious that by the relative prices of 2010 pump prices should have remained a lot lower after Jan 2015.
Assuming Australia uses ~18Billion litres of petrol PA – the price gouging at say 2 yrs @ 10c per litre is of the order of $1,800Million PA extra lifted from motorists wallets. The Caltex CTX share price shows a marked appreciation after the start of 2014. I realize there may have been increases in Fuel Excise since 2010 but the amounts would be slight compared to the yawning gap in my chart.

AEMO wholesale electricity prices compared across four states

Updating my chart of daily AEMO RRP prices across SA, NSW, Qld, Vic – we see the great South Australian price explosion of June which affected all states. Then by mid July prices in NSW, Qld, Vic were crashed back to pre-June levels – SA prices took a week or two longer to fall. Looking at the 30 day smoothed trend. For large chart.

Queensland prices have risen post July and rival levels in South Australia – why would this be?
New South Wales prices have risen post July but recent softness leaves the 30 day average just above $50.
Victorian prices have fallen post July and now look similar to April 2015.
South Australian prices slumped into September but since October continue their starring role.
It is interesting that the lunacy of negative daily prices is appearing in NSW. Periods of low prices tend to be when winds are strong – check chart to MW. NemWatch gives a realtime picture of generation.

South Australian Minister for Water expresses their Murray Darling Basin policy succinctly

SA MP reined in after ‘F*** you all’ comments over Murray-Darling Basin Plan – slapped on wrist with a bit of cooked lettuce.
All the Crow Eaters want is for the Murray Darling water to run into South Australia unimpeded – then they will do what they want with it – simple.
Imagine the meedja hysteria if a non-Left pollie had said these things.
We expect our politicians to speak robustly but his reported references to women surely make him unsuitable for cabinet office.
NSW and Vic should cut down on environmental flows and use the water as they see fit – then let what is left drain into the failed State of South Australia.

GreenLeft Australian Federal Govt messes with President Elect Trump

Signing on to Paris climate deal exactly as Donald Trump becomes US President Elect seems to me provocative and contrary to our national interest. But Hey – Turnbull & Co were expecting a win by Hillary. Pushing on with this tit for tat plan reveals the intensity of GreenLeft beliefs at the core of the Turnbull Govt. and in Obamaland – Australia to ratify Paris climate change agreement, despite concerns Donald Trump will withdraw – I would not say there are just “concerns” President Trump will withdraw from the Paris climate agreement – I think it is more of a certainty than that. I wonder if it is some quid-pro-quo for this idiot scheme with the Obama Administration to subvert the US transition period in their migration space – Australia ‘has plenty of time’ to strike refugee deal with US,
My own view on this Manus-Nauru deal over illegal country-shopping migrants is – “I hope it all blows up in our Govt’s face.”