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THE PRICE OF KEROSENE

IKW THE HATE OF EXCHANGE ACTS. Writing on tlic advance of Is. per case in the price of kcroEcnc, Mr. A. G. C'ato, manager for New 'Zealand of Mio Vacuum Oil Company, elates that "'this is duo to llie heavy losses that occur iu the con-

version of British currency in America, as well as lo increased prime costs at the source of supply. When the last alteration toolt place in eelliuir prices, the rate of excliant'o was W> to the pound sterling, or, in other words, w« received 17u. s}d. for each 20s. converted. The Bonsational and unprecedented downward movement continued to occur, hut it '-ias thought that when tho conversion c-Uc Toadied 4dol. (16u. ii.) to the pound, the turning point had been reached. The reverse haß happened. Kxeluinno lisb continued to fall, and we continued to bear the resultant losses, until to-day. villi evchange at 3.70 (15b. 2Jd.), and with higher prime- costs, we have, uo option hut to advance prices. We would also explain that vhiln tho lose m exchauce between August 18 (wfcen it was 4.i5d0l . or 17s. sjd.) and to-day (whon it i« 3.70d01.. or 15s. 2.M.). amountß lo 2b. 3d. in tho pound, wo are fortunately able, for Iho present, to limit the increase in sellinst prices to Is. per case, owing to our having succeeded in procuring somewhat hotter freight rates on vespcls that we. have recently chartered. We are ptill hopeful that exchange will bo slubilißori in the near future, in whicli event l;ero=eno selling prices will he adjusted accordingly-"

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19200107.2.98.5

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 13, Issue 87, 7 January 1920, Page 10

Word count
Tapeke kupu
263

THE PRICE OF KEROSENE Dominion, Volume 13, Issue 87, 7 January 1920, Page 10

THE PRICE OF KEROSENE Dominion, Volume 13, Issue 87, 7 January 1920, Page 10

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