HIGH PRICE OF PETROL.

Taranaki Daily News, 23 August 1919, Page 12

HIGH PRICE OF PETROL.

A FURTHER RISE SAID TO BE PROBABLE. There does not appear tn bo any likelihood of petrol coining down in price ■or Bomo time (says the Wellington Times). The rate of exchange with •tmerica lias affected the position and after the shipments now on the water have {rone inio consumption, there is every possibility of a further advance in price being announced. The purchasing power of the sovereign lias declined to such an extent that manufacturers say they have been compelled to advance the price of their goods to meet the altered conditions'. Then, again, there lias been an all-round increase in wages to meet the high cost of living; freights are high and shipping inadequate to meet the demand. In consequence of the shortage of ships, goods manufactured for export have to be stored for indefinite periods; thus further expense is incurred and it is all passed on to the public. Motorists in Great Britain have been no better off than those in New .Zealand; in fact, they have been in a far worse position. During the war jieriod the ,purchase of benzine for pleasure cars was prohibited, and the fuel was almost unobtainable for business purposes. It was quoted at 3s (Id to 4s a gallon, but there were no supplies. In New Zealand there was never a real shortage of petrol during the war- Although more than double in price if could be obtained, and so pleasure cars were retained in commission. PERSIAN OIL FIELDS. It would be difficult to predict' when benzine will come Sown in price. Regular shipment from the east const of America may have some effect, but it is questionable if there will be any material to motorists until the oil fields at Baku and in Persia are in full operation. Much has been said about the oil fields in Persia that are to ye developed, with English capital. If the wells come tip to expectation, New Zealand and Australia should have no diffitni'.y in obtaining all the benzine and other mineral oils required at a reasonable price. There would, no doubt, be a strong bid by America to bold, her present position in the oil market, but the use of oil-driven machinery is increasing at so rapid a rate that there i will be no need for a cut-throat war. BENZINE LOST IN TRANSIT. j The manager of a linn that has been in the habit of importing benzine from America in Tegular shipments, stated that there is not the immense prollt from the sale of petrol that people imagine. In some shipments it is astonishing what damage is done during the voyage from America. The shipments, be said, come forward in sailing vessels mostly, and if bad weather is met with the cases, despite the care that is taken in stowing them, work free to a certain extent, and the consequent chafing, combined with rough handling, is the cause of large quantities, of petrol bo'pig lost. There is never a shipment in 'which the cargo does not require reconditioning, all adding to the expense. "The recent advance of prices in America must reflect to the full extent on the New Zealand market in the near future.'' he said, "and the lirin which I represent has decided to stop all shipments until the market is more stuble."