PRICE OF PETROL.
DROPS 2D A GALLON. OIL COMPANIES' DECISION. ANNOUNCEMENT BY MINISTER (By Telegraph.—Press Association.) WELLINGTON, Tuesday. Oil companies operating in New Zealand have agreed to reduce the price of bulk petrol by 2d a gallon as from tomorrow. This announcement was made to-day by the Minister of Customs, the Rt. Hon. J. G. Coates. Following the increase in the tax by 3d a gallon on February S, the retail price of petrol went up 4d a gallon to 2/3 iirst grade. Of this increase it was stated that 3d was due to increased taxation and the other penny was accounted for by the higher exchange rate. In response to representations made in Parliament, Mr. Coates promised to reconsider the taxation, and later announced a reduction of a penny a gallon. The retail price then fell to 2/2 a gallon first grade. Mr. Coates held several meetings with representatives of oil companies. There was a final meeting to-day, and the companies' decision was announced later by Mr. Coates.
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Bibliographic details
Auckland Star, Volume LXIV, Issue 62, 15 March 1933, Page 3
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169PRICE OF PETROL. Auckland Star, Volume LXIV, Issue 62, 15 March 1933, Page 3
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