PETROL PRICES

Gisborne Times, Volume LXXXII, Issue 12254, 9 April 1935, Page 5

PETROL PRICES

AUSTRALIAN INQUIRY COMBINATION OF COMPANIES MAJORITY REPORT PRAISES OBJECT MINORITY REPORT- TAKES DIVERSE 1 VIEW CONSUMERS GAINED £3,000,000 IN. TRADE WAR (U.P.A. by Elec. Tel, Copyright.) (Received April 8, 8.30 p.m.) SYDNEY, April 8. The P.oynl Commission which inquired into petrol prices and the 'operations of the distributing companies -some time ago made its report available to-day. The majority report declare.? that there is no evidence that the policies promulgated between the major oil companies of Australia achieved any condition of affairs inimical to the country. They offend no accepted business practice. On the contrary, their aim was to achieve orderly marketing, prevent secret cutting of prices, and seek closer co-operation between companies in order to overcome extravagance in distribution costs and the granting of extrava-

gant credit . The minority report prepared by the chairman. Mr S. E. Lamb, K.C., stated that, during part of the period investigated, there was a combinaion between the Shell, Vacuum, Atlantic Union, and Texas companies, with, the object of preventing price cutting among themselves the suppression of competition, and the stifling of competition from outside. Mr Lamb expressed the opinion that the total gain to the Australian consumer during the petrol war of 1933 was probably £3,000,000.