CHEAPER PETROL.
American Over-Production to Blame. RUMANIA'S ULTIMATUM. LONDON, May 17. A reduction of 2Ad a gallon in the price of petrol is to take place from to-morrow. The reduction is the result of over-production in the Lnited States, combined with the fall of the dollar. It indicates that the laboriously contrived structure for the maintenance of prices by British, Dutch, American and Rumanian producers has collapsed because America cannot carry out the bargain. Oil shares on the London Stock Exchange are weak. A message from Paris says it is understood that Rumania at the impending International Oil Conference will deliver an ultimatum to the British, Dutch and American producers that unless the American supply is regulated Rumania will withdraw from the conference.
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Auckland Star, Volume LXIV, Issue 115, 18 May 1933, Page 7
Word Count
123CHEAPER PETROL. Auckland Star, Volume LXIV, Issue 115, 18 May 1933, Page 7
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