FUEL Companies Profit Grab

What exactly is going on here in Australia where we are still paying upwards of $1.40 per litre of fuel? Forget the excise tax, forget the GST component!!

The barrel has dropped significantly over the last few months and the fuel companies are slow to pass on these drops even though their margins won't be affected. Is this a pure profit grab and are the fuel companies just extending the margin gain by slowing down the decrease in fuel prices??? Absolutely!!

What are the consumer watch dogs doing?? Not a great deal!! I think the world is too busy worrying about the financial crisis and the fuel companies are using this diversion to keep on putting additional profit margin in their pockets.

The difference that 10 or 20 cents a litre makes to a family budget is substantial over a period of time and can help lower the cost of living for all people!!

What I'm concerned about here too is that due to higher fuel prices over the last 12 months of more the price of basic food items has risen too. My question is, will the supermarket chains begin to pass on any savings to the consumer when fuel prices do fall or will they too get caught up in the profit margin grab just like the fuel companies??

You tell me, I don't think it takes a rocket scientist to figure this one out. Let me know what you think people.....

RBA To Drop Rates - What are the Banks Doing?

The RBA is set to drop rates yet again but before you breathe a sigh of relief the major banks have already stated that they would not pass this onto the consumer. In my view this is an absolute joke and simply a profit grab from the banking institutions.

Think back a month ago when the RBA dropped its rates and the banks followed suit, this time the banks will not drop their rates so in effect what the banks are doing is regaining any lost profit margin they gave away last month! Welcome to shareholder return at the cost of the community!

What makes matters worse is that the Australian government in all their wisdom have seen fit to not enforce the lowering of rates to the consumer. In essence the Australian Government has become a toothless tiger, since when does the corporate sector not have to follow the guidelines set out by a government and how come the average person has to bear the brunt of profiteering.

We are up in arms about fuel prices and consumer watchdogs are all over oil companies like a rash but the banks seem to dictate their own terms regardless of whats good for the Australian economy.

If the government of today were to really make an impact then they should enforce through legislation that the banks do pass on the decrease to consumers so that the flow on effect will be that little light of hope for all who have a home loan.

To find out more please contact me via e-mail or go to my website which is www.aussiewisefg.com.au and you can touch base with me through there.