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Speaker 1: We know that those petrol prices continue to rise. On Friday,

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Speaker 1: there were still a few locations that were slightly fairer

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Speaker 1: than others. This morning, though, the prices for unlettered are

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Speaker 1: now sitting at a dollar eighty five point five and

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Speaker 1: above pretty much everywhere around Darwin. For your diesel they

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Speaker 1: range from a dollar eighty one up to a dollar

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Speaker 1: eighty five point nine. No doubt, it's hurting all of

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Speaker 1: us at the hip pocket right now. Joining me on

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Speaker 1: the line to give us a bit of an insight

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Speaker 1: is the CEO of AAANT here in the Northern Territory,

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Speaker 1: Anthony Hill.

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Speaker 2: Good morning to you, Good morning Katie Anthony.

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Speaker 1: What is causing this price increase at the moment.

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Speaker 2: There's a few things that play at the moment, so

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Speaker 2: I think certainly omicron globally is having an influence. There's

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Speaker 2: been some rebel rays on refineries in the Middle East,

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Speaker 2: which is where most of the oil is produced for fuel,

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Speaker 2: but also the political tensions between Russia and Ukraine are

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Speaker 2: having an effect, which is it's really and artificial downward

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Speaker 2: pressure on all supplies have also helped push the price

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Speaker 2: of petrol up to almost record levels.

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Speaker 1: And no it's not good news at all for any

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Speaker 1: of us. I noticed it on the weekend. I stupidly

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Speaker 1: told all of our listeners on Thursday or Friday last

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Speaker 1: week that I thought the prices were going to go up,

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Speaker 1: and then forgot to fill my own vehicle up so

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Speaker 1: paid top dollar on the weekend. How long do we

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Speaker 1: think they're going to stay high?

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Speaker 2: I think the forecast is really for the short to

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Speaker 2: medium term that we're going to be seeing these prices

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Speaker 2: hang around for a little while. Unfortunately. But when you

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Speaker 2: think this time last year we're paying a dollar twenty five,

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Speaker 2: it's a massive increase in obviously financial impact for all

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Speaker 2: territory families. But I do think that we're going to

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Speaker 2: be seeing this for a little while longer. Yeah, unfortunately.

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Speaker 1: And Anthony, how are we comparing at the moment to

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Speaker 1: other states?

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Speaker 2: Other states? We're a little bit different to other states,

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Speaker 2: seeing in fact, the Southern States have these quite massive

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Speaker 2: some cycles due to competition and larger markets. So you know,

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Speaker 2: day perth last week, we're around about the two dollar mark,

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Speaker 2: and so they're going through a pricing cycle and then

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Speaker 2: that could drop twenty cents in a few days times,

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Speaker 2: so they have this massive price cycle. We don't seem

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Speaker 2: to have that in the territory as much because of

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Speaker 2: the size of our market. It's more consistent, but unfortunately

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Speaker 2: we're seeing it consistently increase at the moment.

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Speaker 1: Yeah, it does seem that way. I know that I

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Speaker 1: had a bit of a look at the terminal gate price.

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Speaker 1: It's high. It's a dollars seventy one for both diesel

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Speaker 1: and unlettered this morning, and you know, I suppose to

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Speaker 1: a lot of people listening, it does seem as though

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Speaker 1: the minute the gate price goes up, it goes up

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Speaker 1: at the bowser, but that's not the case when it

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Speaker 1: goes back down.

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Speaker 2: Yeah, I mean there is a bit of a flow

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Speaker 2: on effect from when the retailer is buying bulk, so

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Speaker 2: when they buy in bulk, it will take little time

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Speaker 2: for it to flow through. But we're watching the margins

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Speaker 2: very carefully. We were through December January seeing margins that

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Speaker 2: through the retailer is probably higher than what we wanted

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Speaker 2: and called that out. But we saw that drop and

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Speaker 2: it's probably this morning to see that come up a

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Speaker 2: little bit from where it's came. But yeah, so we'll

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Speaker 2: keep a very close time on that and call it

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Speaker 2: out when we think it's too high.

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Speaker 1: Yeah, and we will certainly do the same. How got

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Speaker 1: a caller rang through last week on Thursday, I believe

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Speaker 1: it was, and he was filling few his car up

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Speaker 1: with fuel and the price went up by six cents

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Speaker 1: at the time, so essentially he was starting to fill

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Speaker 1: it up. They asked him to stop, and then it

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Speaker 1: ended like they put the prices up and he had

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Speaker 1: to fill his car up at the higher rate. Is

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Speaker 1: that allowed?

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Speaker 2: Look, I would have thought if you commenced filling up,

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Speaker 2: you get it at the price that he pulled up at.

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Speaker 2: So be an interesting one to follow up because it's not.

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Speaker 2: That doesn't seem right.

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Speaker 1: No, I thought the same. It didn't certainly didn't seem

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Speaker 1: very fair. Well, Anthony, I suppose it's at this point

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Speaker 1: in time. It's one of those things. There are so

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Speaker 1: many factors at play, but it's tough. It's tough going

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Speaker 1: when you look at those petrol prices.

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Speaker 2: He certainly is. It's a have of our control somewhat.

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Speaker 2: But and I said, it is a bit of a

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Speaker 2: supplying demand at the moment. So the supply of all

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Speaker 2: those major oil for producers can't keep up those global

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Speaker 2: markets open up as well, so a lot of pricing pressure.

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Speaker 2: I think it will be around for a little while unfortunately,

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Speaker 2: so drive conservatively. I think there'll be a bit of

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Speaker 2: a grin on those that have bought EV electric vehicles. Yes,

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Speaker 2: at the moment, but most of the affordeth Unfortunately, it's

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Speaker 2: here here for a little while longer.

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Speaker 1: Well, Anthony Hill, the CEO of A A n C.

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Speaker 1: We really appreciate your time, mate, no doubt we'll talk

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Speaker 1: to you again very soon.

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Speaker 2: Absolutely, thanks Katie, thank you,