PETROL UP.
ONE PENNY RISE.
RETAIL AND WHOLESALE.
MEETING HIGHER COSTS.
Petrol prices, both retail and wholesale, were increased by Id a gallon in Auckland yesterday. Ordinary spirit is now 2/ retail and *u]>er 2/1.
Some of thf> resellers were taken by surprise, in spite of the fact that there had been rumours of a rise for some time past. The increase took effect from midnight on Thursday.
.Managing director of Atlantic Union Oil Company, Ltd., Mr. E. G. Martin, who was in Auckland yesterday, said that the local wholesale price was regulated by the conditions existing overseas when bulk purchases were made. Since the last increase in the wholesale price of petrol in December, 1936, the landed cost in New Zealand had increased by about 2d a gallon. The cost of fuel had advanced and freight rates had increased almost beyond belief. At the present time the companies were not getting any advantage from the increase in prices, as they were not recovering the additional costs. There should be little objection to the increase, added MY. Martin, a« the price of practically all other commodities had increased. The oil companies were merely taking the opportunity of doing what many others had been forced to do much earlier.
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Bibliographic details
Auckland Star, Volume LXVIII, Issue 282, 27 November 1937, Page 12
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208PETROL UP. Auckland Star, Volume LXVIII, Issue 282, 27 November 1937, Page 12
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