SEQ fuel price cycles driven by same servos

first_imgSEQ fuel price cycles driven by same servos Griffith University researchers have found evidence of price leaders influencing the pattern of fuel prices in Greater Brisbane and Gold Coast in the latest update on the Queensland Fuel Price Reporting Scheme (QFRS).Lead author Associate Professor Parvinder Kler from Griffith Business School says the latest data allowed the team to pinpoint the beginning of fuel price cycles based on a handful of operators.“One of the benefits for SEQ motorists is that other petrol stations won’t necessarily react immediately, giving consumers time to save at the bowser if they’re using fuel price apps powered by Queensland Fuel Price Reporting data during a rising price cycle.”According to the report, price cycles lasted 27 days on average after fuel prices begin to rise.“There tended to be only three or four retailers kickstarting the fuel price cycle. This doesn’t mean all of a brand’s retailers behaved the same way, rather we found it was particular bowser locations that would go first.“There are many different owners of brand franchises, so we concentrated on business owners of the servos and the same three or four were consistently the first to increase their prices and the rest would eventually follow.”Associate Professor Kler says the real time price tracking data suggests Queensland’s Fuel Watch Scheme produces different price cycles to Western Australia which requires retailers to lodge prices the day before.“This leads to more predictable price fluctuations they tend to go up one day and come down another day in the week.“In Queensland, particularly in the Greater Brisbane and Gold Coast areas we don’t see that, retailers can change their price at any time, which makes it complicated.“Whenever these few petrol stations decide to hike or lower their prices, it sets the price point for everyone else and a cycle begins. But we don’t see this play out in regional areas.”The 18-month milestone report estimates the scheme has saved consumers using unleaded fuel products about $8 million in Brisbane and about $9.8 million in Southeast Queensland per year. Brisbane motorists filling up at the minimum price could save about $147 per year while Gold Coast and Ipswich residents could save $129 and $144 respectively at the pump.Griffith University has been engaged by the Queensland Government to provide an expert independent assessment of the QFRS and will deliver a final report in 2021. /University Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, Brisbane, business, gold, Gold Coast, Government, Griffith, Griffith University, Ipswich, petrol, price, Professor, Queensland, school, university, Western Australialast_img read more

Mould & Vaughan buy L&G’s One Fleet Place

first_imgThe deal for One Fleet Place, EC4, was revealed in Property Week before Christmas (19.12.08).The 170,000 sq ft City of London office building is mainly let to Denton Wilde Sapte until 2025 at around £36/sq ft.King Sturge acted for London & Stamford Property and Jones Lang LaSalle acted for Legal & General.Raymond Mould, the non-executive chairman of London & Stamford Property, said: ‘This building combines an excellent blend of building quality, current market rent, long lease length, secure income and given the leverage we can apply, it gives us a very good income return on our investment.’AIM-listed London & Stamford Property is externally managed by LSI Management which is run by Raymond Mould, Patrick Vaughan and Humphrey Price who are also non-executive directors of London & Stamford Property.Mould, Vaughan and Price founded London & Stamford Investments in 2005 with backing from General Electric Pension Trust. The business was then acquired by London & Stamford Property last October.London & Stamford Property is also thought to be in exclusive talks to buy a stake in British Land’s Meadowhall shopping centre in Sheffield.last_img read more

AES Dominicana Turning Andres LNG Terminal into Regional Transshipment and Bunkering Hub

first_imgAES Dominicana, an affiliate of AES Corporation, plans to turn its AES Andres LNG terminal in the Dominican Republic into an LNG transshipment and bunkering hub for the Caribbean, Central and South America by 2016.The company enlisted George Nemeth, previously employed at ExxonMobil, Merrill Lynch Commodities and Koch Supply and Trading, to help with the new project.”Work has begun to re-configure the existing AES Andres LNG receiving terminal in the Dominican Republic for LNG re-loads onto vessels between 10,000km-60,000km,” says Nemeth.”The combination of AES Dominicana’s ability to procure competitively priced LNG and the capability to deliver small loads of LNG allow for cost effective gas conversion solutions for smaller-load fuel consumers in the region. The facility is also located along many shipping routes ideally positioned to provide LNG bunkering services to vessel owners and operators who are increasingly drawn to LNG as a propulsion fuel.”The AES Andres LNG terminal will be ready for re-load operations in the third quarter of 2016. Current developments for vessel bunkering infrastructure are also underway.”AES Dominicana aims to become a regional transshipment hub in order to provide cost effective energy solutions to fuel consumers in the Caribbean, Central and South America,” said Edwin De Los Santos, President of AES Dominicana.last_img read more