World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

OPEC Say: "It's Not Our Fault"

OPEC: Why You Pay So Much For Gasoline And Other Oil Products

Whenever the prices of oil products such as gasoline (petrol), diesel or heating oil rise, OPEC is usually made the scapegoat by some sections of the media, politicians and the general public. “OPEC must raise output,” the cry goes up. This is based on the incorrect assumption that the Organization is responsible for high product prices. The point has been made many times before, but it is worth repeating: OPEC is NOT directly responsible for high gasoline or heating oil prices. The following analysis shows why.

Most consumers believe there is a directly proportional link between crude prices and the prices of products such as gasoline and heating oil. If product prices go up, then it must be because crude prices are going up. In other words, OPEC is perceived as being directly responsible for high gasoline or heating oil prices. Nothing could be further from the truth. Although there is a link between crude prices and product prices, it is neither direct nor proportional, and the main reason can be summed up in one word – TAXES. Of course, end users of petroleum products are not being told the truth.

More

© Scoop Media

 
 
 
World Headlines

 

Rohingya Muslims Massacred: Restrictions On Aid Put 1000s At Risk

Amnesty: The Myanmar authorities’ restrictions on international aid in Rakhine state is putting tens of thousands of lives at risk in a region where mainly Rohingya people are already suffering horrific abuses from a disproportionate military campaign. More>>

ALSO:

Werewolf: Gordon Campbell On North Korea, Neo-Nazism, And Milo

With a bit of luck the planet won’t be devastated by nuclear war in the next few days. US President Donald Trump will have begun to fixate on some other way to gratify his self-esteem – maybe by invading Venezuela or starting a war with Iran. More>>

ALSO:

Victory Declared: New Stabilisation Funding From NZ As Mosul Is Retaken

New Zealand has congratulated the Iraqi government on the successful liberation of Mosul from ISIS after a long and hard-fought campaign. More>>

Gordon Campbell: On The Current US Moves Against North Korea

If Martians visited early last week, they’d probably be scratching their heads as to why North Korea was being treated as a potential trigger for global conflict... More>>

ALSO:

Gordon Campbell: On The Lessons From Corbyn’s Campaign

Leaving partisan politics aside – and ignoring Jeremy Corbyn’s sensational election campaign for a moment – it has to be said that Britain is now really up shit creek... More>>

ALSO:

 
 
 
 
 
 
  • Pacific.Scoop
  • Cafe Pacific
  • PMC