Oil Price Relief for Oz Carriers?

[damien b]

Both the 1929 and 1987 market crashes saw our market fall around 50% in value, so i guess going by that the bottom of this crash may be around the 3000 -3500 mark.

As others have said with the falling Aussie dollar our fuel price at the bowser isn't going to get much cheaper despite falling oil prices.

[Andrew M]

Oil has fallen by a greater % than the $, but the price of petrol has stayed about the same.

It is falling slowly with the current wholesale price of petrol around 1.42 per litre

[Philip Argy]

Originally Posted by NickN

I feel sorry for everyone who has their nest egg tied up with the big superannuation companies, you guys must have lots a fortune over the past few weeks.

You're not wrong, Nick - my BT super balance went backwards by 17% in the 12 months to 30 September! I gave them notice of withdrawal on 15 September to move it into my SMSF and they told me yesterday that my balance had reduced by a further $75,000 just since I'd given notice. Luckily I'd ticked a box that required them to put the entire balance into their cash management account upon receipt of the withdrawal notice so they will have to wear the subsequent loss (which they've now agreed to).

[Rhys Xanthis]

Who would've known ticking a box meant $75k!

[Rhys Xanthis]

To resurrect this thread;

At 12PM WST, NYMEX Light Crude was at $48.49.

Quite a drop!

You can keep an eye on it here at Bloomberg Energy.

[Marty H]

Going to be some interesting fuel hedging negotations next year thats for sure.

[Montague S]

Originally Posted by Rhys Xanthis

To resurrect this thread;

At 12PM WST, NYMEX Light Crude was at $48.49.

Quite a drop!

You can keep an eye on it here at Bloomberg Energy.

yea..and maybe you can post the AUD drop too. we still need $81 AUD to buy 1 barrel of crude.

[Rhys Xanthis]

Originally Posted by Montague S

yea..and maybe you can post the AUD drop too. we still need $81 AUD to buy 1 barrel of crude.

Ugh, tell me about it...

As soon as we book our first overseas holiday for 17 years (since i was 6 months old), this **** happens.

[John C]

edited as the conversation had moved on