No Rise In Petrol Prices For Some Months
WELLINGTON, Nov. 4. There will be no need for an increase in the price of petrol for sp'me months. This was stated to the Fost today by Mr Nordmeyer in a tele phone interview at Oamaru in answer to reported statements that the price would rise from 3d to 4d a gallon bef ore long "but -the new price was unlikely to be officially aimounced until after the General Election. "Persons supposed to be 'closely associated with the industry' who released to the Press ye'sterday the statement that the retail price is to be increased from 3d to 4d a gallon in the tteai future appear to "be well astray in their facts," said the Minister, "The facts, which are in possession of the Government and have heen supplied hy the oil companies, indicate . that there will he no need for an increase for some months. - . "No departure from the procedure which has operated for many years in fixing local prices is called for. Not only are suhstantial stocks in hand that. were purchased at prices into which devaluation does not enter, hut considerahle credits which accrued from falling overseas prices prioi to Septemher 19 are avaiiahie to offset i'ncreases in landed costs after that date."
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Chronicle (Levin), 5 November 1949, Page 5
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214No Rise In Petrol Prices For Some Months Chronicle (Levin), 5 November 1949, Page 5
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