Coles vs Woolworths ( The pricing war)

Fuel discount  is definetly in the spotlight , thanks to coles for bringing it to  the spotlight  and now the Grocery / Fuel discount war is on ,and we the normal people  can rub our hand in glee while we  press on those Petrol fuel bowsers buttons and fill up with a grin.

Supermarket giants Woolworths and Coles have upped the ante in their price war by offering 40 cents a litre discounts on petrol. That equates to a $17.60 saving when filling up Australia’s biggest selling car, the Toyota Camry.

coles petrol war

Motorists who spend more than $300 in one visit at Coles or Woolworths supermarkets in the next three days will qualify for the discount, which must be redeemed in the next four weeks.

Shoppers who spend $200 or more will get a 25 cent a litre discount, while those spending $100 or more can receive a 10 cent a litre discount.

But  how many people really  feel these  discounts are not going to  be compensated by   the price of that spuds or then  can of baked beans or something else  suddenly increasing by  a couple a cents in the supermarket and getting compensated for the   fuel discount provided.

Senator Xenophon says the plans prove the supermarket chains and big oil companies regularly overcharge for petrol.

"If they can offer discounts at this level, this is proof that the big oil companies and the supermarkets are overcharging massively when they aren’t offering discounts," he said in a statement on Monday.

"This is further proof that a handful of companies have Australian motorists over a barrel."

Fuel discounts of up to 40 cents a litre being offered by supermarket giants Coles and Woolworths have been criticised as anti-competitive and manipulative

Todays stock prices

Coles

WES
22.840

Woolworths

WOW
26.700

coles woolworths fuel war

Forex trading (Australian Dollar) today

The Australian dollar closed higher today, halting a four-trading day losing streak after risk appetite lifted on new figures showing domestic business conditions have improved significantly.

At 1700 AEST, the Australian dollar was trading at $US0.7849/52, up 1.2 US cents – or 1.5 per cent – from Monday’s close of $US0.7732/34.It was the unit’s first positive close to a local trading session since July 7.During the day, the local currency moved between $US0.7814 and $US0.7874, the latter reached in the 30 minutes before the Sydney close.

The Australian dollar advanced one US cent during overnight session to begin the local trading day above $US0.7800.

~~ Stock Picks and Stuff from JJ ~~

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