Please explain to me.

[Oldfellah]

Ok we know petrol is at an all time high but why are oil companies putting up prices when the shipment has been obviously been bought and paid for and is on the way, should they not wait until the more expensive shipment that they have had to pay a high price for arrives?

It may be a simple answer but its something I cant get my head around.

[Magoo]

they exp[ain it away with a 'this weeks profit covers last weeks loss' argument.
apparently market conditions are such that they do have scenario's where they do lose money.

wish i could think of one.

[king1]

Brother in law has a garage, his logic is on occasion they have to pay to get the tanks filled (15000 litres) at a higher rate only to have the gas price come down the next day...

[Oldfellah]

I have been losing money hand over fist, not because of the high price of petrol but have lost thousands with kiwisaver so took the plunge and have arranged to close my account, bloody cheeky bank said its a long term thing you should leave it in, my answer was ... lady Im 71 with a heart condition and I might not have long term , and with that she handed me the forms to fill in. 

[Zurdo]

The last crude oil tanker is at Marsden Point. Once that is processed, we will no longer refine our own fuel...it will all come from overseas. Oil companies have an obligation to their shareholders...etc. There is 2 weeks supply of Adblue left in the country, once that runs out the trucks will stop. Motenui is now making Adblue, so we won't be dependent on China for it. It's urea...like don't we have that ?

[king1]

I have been losing money hand over fist, not because of the high price of petrol but have lost thousands with kiwisaver so took the plunge and have arranged to close my account, bloody cheeky bank said its a long term thing you should leave it in, my answer was ... lady Im 71 with a heart condition and I might not have long term , and with that she handed me the forms to fill in. 

They are absolutely right though.  Markets will always recover eventually, this is just market jitters from uncertainty.  But once you take the money out or change plans you lock in the loss permanently and can never recover it...

[king1]

The last crude oil tanker is at Marsden Point. Once that is processed, we will no longer refine our own fuel...it will all come from overseas. Oil companies have an obligation to their shareholders...etc.  There is 2 weeks supply of Adblue left in the country, once that runs out the trucks will stop. Motenui is now making Adblue, so we won't be dependent on China for it. It's urea...like don't we have that ?

Do you think this aspect (no longer refining our own fuel) is contributing to the price increases here or is it just a reflection of global oil prices etc

[Oh_hunnihunni]

Bit like my landlord. Soon as my super goes up, the rent matches it.

Bastards.

[Magoo]

The last crude oil tanker is at Marsden Point. Once that is processed, we will no longer refine our own fuel...it will all come from overseas. Oil companies have an obligation to their shareholders...etc.  There is 2 weeks supply of Adblue left in the country, once that runs out the trucks will stop. Motenui is now making Adblue, so we won't be dependent on China for it. It's urea...like don't we have that ?

Do you think this aspect (no longer refining our own fuel) is contributing to the price increases here or is it just a reflection of global oil prices etc

going by the furore in america and the uk its global

---

im going to pick up a hybrid for daughter/sonlaw. they have a 100km commute
grocery price rises, interest hike and petrol insanity will be very hard on them.

[Oldfellah]

My daughter has a hybrid but it still uses petrol to generate electricity, and I have read that if you want an EV there is about a 9 month wait, so we are screwed.

[Zurdo]

Do you think this aspect (no longer refining our own fuel) is contributing to the price increases here or is it just a reflection of global oil prices etc

We will be dependent on the world market of refined fuel...which of course is much dearer than crude. But Gull imports all it's fuel, and is cheaper than the big boys. Our own refined fuel will go the way of all the other things we used to make ourselves....but now get cheaper from China. It's all fine and dandy saying you prefer to support the local industries...until you have to pay the price...and then cheaper is much better.

[Magoo]

My daughter has a hybrid but it still uses petrol to generate electricity, and I have read that if you want an EV there is about a 9 month wait, so we are screwed.

'll get her something used.
not going crazy, $15k
still a cost of petrol but nowhere near what they currently burn.
about 60% cheaper by my reckoning.
this adds up to a substantial sum over the next couple of years

[Olive]

I have a little Aqua, basically a no-frills Prius. It's lovely to drive, cheap to run as long as we don't take it over the Kaimais, and cost less than $15K.

[Magoo]

I have a little Aqua, basically a no-frills Prius.  It's lovely to drive, cheap to run as long as we don't take it over the Kaimais, and cost less than $15K.

she mentioned the Corolla Fielder which has a similar body style

[Lilith7]

Bit like my landlord. Soon as my super goes up, the rent matches it.

Bastards.

I think they need to be legally prevented from doing that. A law which prevents any person, trust or organisation of any kind from requiring more than 1/4 of tenant's weekly income.

I bet there'd be a  few opting to leave the property market....

[Zurdo]

NZ isn't a country of renters and landlords...we are all new to this stuff. Now we are a country of people who can't afford a house, and people who have an extra house or two they rent out. Other countries have controls, we will have to do it too.

[SueDonim]

Bit like my landlord. Soon as my super goes up, the rent matches it.

Bastards.

I think they need to be legally prevented from doing that. A law which prevents any person, trust or organisation of any kind from requiring more than 1/4 of tenant's weekly income.

I bet there'd be a  few opting to leave the property market....

The tenant's income is private to the tenant and the landlord does not know what it is. We've heard so much in the press lately about banks requiring personal banking data before lending money. God forbid that landlords should say "Na, you can't have this house, you don't earn enough". As it stands, you sometimes get a feel for how well off tenants are (some have more income than we do!). If I was doing rent reviews I might sit on an increase for someone I think has no income other than the pension, and time an increase for when that goes up.

---

NZ isn't a country of renters and landlords...we are all new to this stuff. Now we are a country of people who can't afford a house, and people who have an extra house or two they rent out. Other countries have controls, we will have to do it too.

Some are new to it. I've been in the business 20 years, so not that new to it. We need the government to stop meddling. Our biggest problems in the last few years have been the increases in rules and regulations which have put the costs up for everyone.

[Oh_hunnihunni]

I have been losing money hand over fist, not because of the high price of petrol but have lost thousands with kiwisaver so took the plunge and have arranged to close my account, bloody cheeky bank said its a long term thing you should leave it in, my answer was ... lady Im 71 with a heart condition and I might not have long term , and with that she handed me the forms to fill in. 

Sheesh, you sexy beast, you have been holding out on me.

I didden know you was rich too. 

[Oldfellah]

I have been losing money hand over fist, not because of the high price of petrol but have lost thousands with kiwisaver so took the plunge and have arranged to close my account, bloody cheeky bank said its a long term thing you should leave it in, my answer was ... lady Im 71 with a heart condition and I might not have long term , and with that she handed me the forms to fill in. 

Sheesh, you sexy beast, you have been holding out on me.

I didden know you was rich too. 

My personality is far richer than my financial status lol

[Oh_hunnihunni]

Bit like my landlord. Soon as my super goes up, the rent matches it.

Bastards.

I think they need to be legally prevented from doing that. A law which prevents any person, trust or organisation of any kind from requiring more than 1/4 of tenant's weekly income.

I bet there'd be a  few opting to leave the property market....

Ahh but social housing runs by separate rules. I pay the max rent allowable for subsidised pensioner housing - 30% of gross primary income, which is why when that income goes up so does my rent. It is another petty meanness that disempowers us.

But hey, I'm blessed to have long term security, a safe roof, and a guaranteed income. There are so many without those basic life things these days.