INTERNATIONAL MARKET WATCH

PRICING

Weekly Petrol Prices Report

Weekly Diesel Prices Report

Australian Market Snapshot

Facts about Prices

Terminal Gate Prices (wholesale)

INTERNATIONAL MARKET WATCH

The charts below show recent movements in international benchmark prices relevant to the price of petrol and diesel in Australia. These market prices include the Singapore price of petrol (MOPS95 Petrol) and diesel (Gasoil 10ppm sulfur) and the market price for Tapis Crude Oil.

Australia's local oil refineries constantly compete with imported petroleum products from large highly efficient refineries in Asia, regardless of the cost of importing and refining crude oil. Consequently, the price of petrol at Australian refineries is based on international petrol prices. If local prices were higher than international prices, imports of petrol would displace local production.

The above charts show the market prices for unleaded petrol, diesel and crude oil. Crude oil, diesel and petrol prices are closely linked, as the price of crude oil accounts for the vast majority of the cost of producing a litre of petrol or diesel. Crude oil is purchased in US dollars, meaning that changes in the value of the Australian dollar against the US dollar have a direct impact on the relative price of crude oil in Australian dollar terms. Therefore, changes in the Australian dollar/US dollar exchange rate must be taken into account when looking at movements in crude oil prices.

General Note:	AIP publishes the Platts crude oil and product quotes for the purpose of price transparency and to assist in demonstrating that the movements in product prices follow the medium term movements in crude oil prices. The Platts Tapis quote was chosen as a representative regional crude oil price marker which is quoted daily and is based on the expected price of cargoes loading 15 to 45 days in the future. By utilising the Platts Tapis quote AIP does not intend to reflect the actual purchase prices of crude oil by individual AIP member companies. Consequently, appropriate care should be exercised when using this data to infer financial performance of individual companies.
Note 1:	The Petrol, Diesel and Crude Oil prices are provided by Platts (McGraw-Hill Inc), and represent the end of day assessment for the price of Mogas 95 Octane Petrol, Gasoil and Tapis. From 1 January 2009, the diesel price marker is 10ppm sulfur diesel, consistent with changes to Australian fuel standards.
Note 2:	This price data is Copyright © 2009 the McGraw-Hill companies all rights reserved. The McGraw-Hill companies make no warranties as to the accuracy of information, or results to be obtained from use. No portion of the publication may be photocopied, reproduced, retransmitted, put into a computer system or otherwise redistributed, without prior written Authorisation from Platts. Platts is a trademark of the McGraw-Hill Inc.
Note 3:	Exchange Rates are taken at close of business (4pm AEST) each day as published by the Reserve Bank of Australia.

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