The price of oil hit a 13-month low last night! Which was all that some people needed to whinge about petrol prices. Specifically, they accused us of profiteering because the price of petrol didn't also go down to a 13-month low overnight.
These people fail to understand that we have to sell the stuff we bought at the higher price before we can buy some at the low price and pass the savings on. Also that 13 months ago the Australian dollar was worth 90-something US cents and it's now worth 60-something US cents, so it won't go that low in Australian money terms anyway.
These people fail to understand that we have to sell the stuff we bought at the higher price before we can buy some at the low price and pass the savings on. Also that 13 months ago the Australian dollar was worth 90-something US cents and it's now worth 60-something US cents, so it won't go that low in Australian money terms anyway.
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