PRICE OF PETROL.
REDUCTION IN AMERICA. BY CABLE—PRESS ASSOCT ATION —COPYRIGHT ,mu N ? W y° RK > July. 19. In© continued reductions nationally in the price of petrol reached an unusual stage when the Standard Oil Company announced a one cent drop in the Eastern Metropolitan districts, bringing the. price here down to 19 cents wholesale, while in the Western-, Great Lakes., and mid-Continental sections the price has reached 12 cents a gallon and even lower. The causes attributed are over-pro-duction by the small independent companies, who. have engaged in a number of new drillings, and the unprecedented rainy and cold spring, which has seriously curtailed the pleasure of motoring and .agricultural tractor operations. Independent companies have been forced into virtual bankruptcy. Therefore they are unloading the product for any price. This benefit cannot be extended abroad, especially to Australia, because the independent companies are badly disorganised and are lacking in tankers and other export facilities.
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Hawera Star, Volume XLVIII, 21 July 1924, Page 5
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155PRICE OF PETROL. Hawera Star, Volume XLVIII, 21 July 1924, Page 5
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