Thursday, 17 July 2008

Would you use a fuel price monitoring service?

With the fuel prices almost reaching the $2 per litre mark, I am always looking for different ways to spend as less as possible when I am filling up the car. One of this ways was to exploit the volatility of fuel cycle. Sometimes, I believe that the fuel cycle is manufactured to keep the illusion that the poor driver is getting a bargain at the bowser, (I am probably too cynical).

Fuel watch
was a program that was first used in Western Australia with varying degree of success. It was introduced in 2001, so its effect on the local fuel prices would be well understood if it was to be introduced for the test of the country. Fuel watch was to provide the drivers to make an informed decision on when and where to get the next load of fuel.

An article in WA Today today has indicated that fuel price cycle in Western Australia has basically disappeared. It is not conclusive that Fuel Watch was the main reason. If the price cycle is as predictable as it is, what difference would Fuel Watch make?

I believe that fuel cycle will not totally disappears. It's price will still go up and down,following the world oil prices. It just that the fuel prices is not going to be as volatile as it has been. The volatility cycle will probably be measured in weeks rather than days.

Instead of investing money into Fuel Watch for the rest of the country, that money should be invested into more worthwhile projects such as ways of dealing with housing crisis, or getting more people in homes.

What do you think about a monitoring service like Fuel Watch?

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