Energy in Australia
Energy-in-Australia-2015
Energy-in-Australia-2015
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Figure 8.10: Retail fuel prices <strong>in</strong> <strong>Australia</strong><br />
200<br />
2014 – 15 Ac/L<br />
150<br />
100<br />
50<br />
0<br />
2002–03 2004–05 2006–07 2008–09 2010–11 2012–13 2014–15<br />
Average petrol retail price<br />
Average diesel price<br />
S<strong>in</strong>gapore spot price (benchmark)<br />
Notes: Prices are GST <strong>in</strong>clusive<br />
Source: <strong>Australia</strong>n Institute of Petroleum (2015) Annual Retail Prices; IEA (2015), Quarterly Prices and Taxes<br />
Trade<br />
<strong>Australia</strong> is a net importer of crude oil and other ref<strong>in</strong>ery feedstock but<br />
a net exporter of LPG. In 2014–15, <strong>Australia</strong> imported 24.7 gigalitres of<br />
crude oil and other ref<strong>in</strong>ery feedstock. The high proportion of imports<br />
as a share of total production reflects the fact that most of <strong>Australia</strong>’s oil<br />
production occurs off the north-west coast of Western <strong>Australia</strong>, which is<br />
closer to Asian ref<strong>in</strong>eries than domestic ref<strong>in</strong>eries on the east coast, and is<br />
therefore more profitable to export.<br />
With decl<strong>in</strong><strong>in</strong>g east coast production, domestic ref<strong>in</strong>eries on the east coast<br />
now mostly rely on imported feedstock. In addition to costs, crude grades<br />
produced <strong>in</strong> <strong>Australia</strong> are generally not as well suited for use by <strong>Australia</strong>n<br />
ref<strong>in</strong>eries as those sourced from other countries.<br />
ENERGY IN AUSTRALIA 2015 105