Pumped up petrol prices are a preemptive Christmas strike
Motorists have endured a week of massive price gauging at the pump.
The gap between wholesale and retail prices is sitting at a record high after blowing out to 24.7 cents a litre.
Fuel retail expert and former Caltex Australia executive Bruce Rosengarten told Ross and John the rising price is tactic to avoid scrutiny over pre-Christmas holiday increases.
“Retailers have lifted the price so they won’t have to lift the price before Christmas, particularly in the week before when the tension of petrol prices will be even greater than this week,” he said.
“Just about the month or so ago the crude price was right up around the $85-mark, it’s now down at the $57-mark, so it’s been falling which is good for the oil companies, they’ll make a bit more money at this stage.
“They’ve lost a bit, so they’re balancing out their equations … in terms of margin.”
Click PLAY to hear more from Bruce Rozengarten’s chat with Ross and John