Petrol is currently $1.77 a litre (that's about $5.80 a gallon for you folks in the US) - the highest it's ever been.
I found out today that BP have just decreased the discount to 7c/litre. So, I'm still paying less than the pump price for petrol, but it's a substantial increase - especially given that the pump price has increased by well over three times the discount I'm getting in the last year.
I find this somewhat concerning. My personal transport cost has only increased by $5 a week since the move, since I'm now carpooling instead of catching the bus. But I'm looking at how coffee's gone up by a dollar a bag, milk is now more expensive than petrol ($3 for 2 litres is super cheap, in a country where dairy cows outnumber people), and everything in Fidels has gone up by 50c in the last couple of months.
Now, the actual rate of inflation depends who you ask. One site I looked at had 2.6%. This site says 3.8%. That's a big difference. Most people's wages aren't increasing that fast.
I'm not trying to start anything, yes I've heard of Peak Oil, yes I know the world's supposedly headed for a recession and that the US dollar is sinking like a lead balloon. Doom! Gloom! I think most people are aware of these things. But for me, today, losing 2c/litre discount on my petrol tells me that BP is no longer in a position where it can afford to absorb the increasing cost. And that concerns me.
(As an indicator, my company uses 360,000 litres of 91 octane fuel a year. This is mostly in site visits to apprentices to check and mark off their training, which helps to ensure that your house won't fall down. Anyway, it adds up to $8,140 in loss of discount. That's a tidy chunk of money)