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"GROSSLY INACCURATE"

PETROL PROFIT CHARGE

WELLINGTON, this day.

' "Grossly Inaccurate," was the description applied by the Minister of Supply,' Mr. Sullivan, to allegations that the Government had; obtained a profit of 3d a gallon on all petrol and that the direct profit taken from this commodity under lend-lease for the years 1941-44 was £3,120.000. He was replying to a question previously asked by Mr. G. F Sim (Nat., Rotorua), Mr. W. Sullivan (Nat., Bay of Plenty) and Mr. A.! S. Sutherland (Nat., Hauraki). "In terms of the Government s stabilisation policy and of the decision to include petroleum pro-1 ducts as goods for which prices were j to be stabilised, retail prices have | not been advanced in accordance j with increased landed costs beyond prices ruling at the date of the decision," said the Minister. "Landed costs, however, have shown considerable variations, but the impact of those variations is being borne by the Ministry of Supply. "While landed costs of petrol have recently shown a downward trend, the advices of all costs received from the suppliers are not necessarily final, -nor have the prices payable by the distributing companies been settled. To the extent that there is an apparent benefit on one commodity, the resultant credit, if ultimately available, is required to pff- i set excess charges still being absorbed by the Government on; petroleum products in general and in the meantime it is impossible to, estimate profits or losses over allj petroleum products. . " "The possibility of reducing the price of petrol to the public is con- ; stantly in the mind of the Govern-, ment, but in the circumstances this cannot be effected without taking j other relevant considerations into! account." ,

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AS19450719.2.104

Bibliographic details

"GROSSLY INACCURATE", Auckland Star, Volume LXXVI, Issue 169, 19 July 1945

Word Count
281

"GROSSLY INACCURATE" Auckland Star, Volume LXXVI, Issue 169, 19 July 1945

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