THE PRICE OF PETROL

Otago Daily Times, Issue 17692, 1 August 1919, Page 5

THE PRICE OF PETROL

ANOTHER INCREASE.

(Fbom Odb Own Cokresfondent.) CHRISTOHIURCH, July 31. A riso of Is 4d per case in the price of petrol, notified by the Vacuum Oil Company as taking effect from to-morrow, is not viewed with equanimity by garage proprietors.

" We .have no redress," said the manager of a city garage, " and we simply have to pay. We are merely the ball, and the wholesale firm can bang us about as it likes. We used to buy at about 17s per case before the war, and sell at about 19s. The present retail selling price is 25s 8d per good grades. Wo make 2s per case, but out of that we have to allow for wastage, aud we require plant costing about £250 in which to store the petrol, a special insurance rate, and a license to sell it, so we do not get much out of the 25."

"Wlat is the Board of Trade doing?"., asked another. The maximum price of petrol had been fixed by the board at 26s 6d, but that was about two years ago, and since then the price of petrol had dropped. " We are quite at the mercy of the Vacuum Company," he added. "It is the, controlling factor. It is a matter which the Board of Trade should investigate." That the rise in price is not to be confined to petrol was made clear by this speaker, who said the drop in the exchange rate would hove its effect upon all American goods. A rise of £30 to £40 in motor cars was quite probable.

It is stated that tho taxi drivers held a meeting last night, and decided not to apply to the City Council for permission to raise their fares. They will themselves bear the increase without passing it on. A reporter was informed that the country was full of petrol. Thousands of cases have arrived in Lyttelton quite recently, and the British Imperial Oil Company's Euplectela is reported to be in Wellington now with 9800 cases of benzine. Large shipments are also expected at Lyttelton. If these stocks have been bought at current rates, as presumably they have, and if' the increased price is charged on them, they will realise much more than the usual return on the purchase price.