When oil prices spiked to $US140 ($A193.85) a barrel in 2008, veteran analysts declared that prices would reach $US200 or even $US300 a barrel, only for the market to promptly collapse. To this day no-one is quite sure why prices spiked or collapsed.
Given that experienced analysts are often completely wrong about what will happen to the market, it is little wonder that the Australian Competition and Consumer Commission and long-suffering Australian motorists are often mystified by price variations at petrol bowsers.
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