Price Of Oil?

[Nitro_X]

I paid $2.09 for 98 the other day.

 

[vc commodore]

So if a US conglomerate, and an OS competitor got together under the banner of an organisation to collude on prices set in Aus, theres nothing Australian Law can do because that organisation is not the member entities?

So if we decide to prosecute them and win, who gets the dollars from the successful law suit?

To date, I am yet to hear of any consumer that has gotten a slice of the fine pie, when companies are prosecuted for price fixing....I would be happy to see a case where the consumer has gotten that slice of the pie

 

[vc commodore]

Launceston has hit $2.26 for 98, yet I can buy it near home, 30 mins away, in a small town for 17cpl less, go figure?? It's not just crude driving up prices, it's price gouging at its finest here.

Around my area it varies from 177.9 to 197.9 p/l for 91....That's from 6 servoes between home and work, with the majority being owned by the same franchise owner..

The weekend just gone, it was 1.99.9 p/l for 91, yet 250 kays away, it was 164.9 p/l for 91 in country S.A....And again, those prices were for the same franchise owner of the servoes....So go figure

 

[J_D 2.0]

$1.74 over our side of town. The Costco effect.

That’s the low point of the cycle then as the wholesale price is 172.7 for Brisbane. The servos almost never let the price get lower than their cost.

 

[J_D 2.0]

So if we decide to prosecute them and win, who gets the dollars from the successful law suit?

To date, I am yet to hear of any consumer that has gotten a slice of the fine pie, when companies are prosecuted for price fixing....I would be happy to see a case where the consumer has gotten that slice of the pie

That does happen in America. They also have stronger whistle blower laws in the US as well. Whistle blowers can be entitled to a share of the penalties.

 

[vc commodore]

That does happen in America. They also have stronger whistle blower laws in the US as well. Whistle blowers can be entitled to a share of the penalties.

So if you blow the whistle, you get a slice of the pie...If you are unaware you have been scammed, or find out after the ruling is handed down, you still get screwed over?

Doesn't sound fair for the little man, but it is still nice to know at least someone/or others get a slice of the pie in America...

 

[J_D 2.0]

So if you blow the whistle, you get a slice of the pie...If you are unaware you have been scammed, or find out after the ruling is handed down, you still get screwed over?

Doesn't sound fair for the little man, but it is still nice to know at least someone/or others get a slice of the pie in America...

The SEC awards money to whistleblowers and I do remember hearing about cases in the US where the whistleblower/s have shared in multimillion dollar payouts.


https://en.wikipedia.org/wiki/Whistleblower_protection_in_the_United_States


“To qualify for an award under the Security and Exchange Commission's Whistleblower Program, information regarding possible securities law violations must be submitted to the Commission in one of the following ways:

• Online through the Commission's Tip, Complaint or Referral Portal; or.
• By mailing or faxing a Form TCR to: SEC Office of the Whistleblower.

The four factors that may increase an award are:

1. the significance of the information provided by the whistleblower
2. the assistance provided by the whistleblower
3. any law enforcement interest that might be advanced by a higher award
4. the whistleblower's participation in internal compliance systems - as in, if you reported on a company that you currently or used to work for, did you report internally first, and did you participate in any internal investigation

There are also three factors that can decrease the percentage of an award. They are as follows:

1. culpability
2. an unreasonable reporting delay by the whistleblower
3. interference with internal compliance and reporting systems

 

[vc commodore]

The SEC awards money to whistleblowers and I do remember hearing about cases in the US where the whistleblower/s have shared in multimillion dollar payouts.


https://en.wikipedia.org/wiki/Whistleblower_protection_in_the_United_States


“To qualify for an award under the Security and Exchange Commission's Whistleblower Program, information regarding possible securities law violations must be submitted to the Commission in one of the following ways:

• Online through the Commission's Tip, Complaint or Referral Portal; or.
• By mailing or faxing a Form TCR to: SEC Office of the Whistleblower.

The four factors that may increase an award are:

1. the significance of the information provided by the whistleblower
2. the assistance provided by the whistleblower
3. any law enforcement interest that might be advanced by a higher award
4. the whistleblower's participation in internal compliance systems - as in, if you reported on a company that you currently or used to work for, did you report internally first, and did you participate in any internal investigation

There are also three factors that can decrease the percentage of an award. They are as follows:

1. culpability
2. an unreasonable reporting delay by the whistleblower
3. interference with internal compliance and reporting systems

So this does say, if you are whistleblower, you get rewarded, which I think it quite right...However if you are unsuspecting and find out too late, you get nudda....

 

[J_D 2.0]

So this does say, if you are whistleblower, you get rewarded, which I think it quite right...However if you are unsuspecting and find out too late, you get nudda....

Yeah. I guess they want to encourage people to come forward. As opposed to our government who actively prosecutes whistleblowers to stop them from speaking up.

 

[wetwork65]

The wholesale price of 91 unleaded is currently 177.7 cents per litre.


https://aip.com.au/pricing/terminal-gate-prices

Cool, so according to this website my local service stations are selling U91 at a substantial loss, at a retail price of $1.77 also considering the cost of having the doors open and pumping it into my fuel tank?
What a bunch of great guys.