THE PETROL SHORTAGE.

Lyttelton Times, Volume CXXIII, Issue 15922, 7 May 1912, Page 9

THE PETROL SHORTAGE.

SPECULATORS HOLDING b SUPPLIES.

HIGH PRICES QUOTED

The fact that there was hkoly to bo shortngo of supplies of motor spirits .', tlr dominion trems to have been -,- <i some days ago by a number of mostlv outside the motor busi,lo- It seems to have been quite unsuspected by tho proprietors of some ; of tho biggest garages in the city, who have therefore been taken unprepared Thoso people who had information that i shortage* was imminent aro said to have made large speculative purcl,tws It seems extremely probable that had there been no rumour of a shortage of supplies the present inflation of prices would not have occurred 60 early, and might even have never occura-ed at all. In short, the abnormal demand by speculators in view of a possible shortage has removed so much motor spirit from tho retrular market that the shortago was made inevitable. The big motor firms are indignant that they were not informal of the possibility of delayed supplies, when such information was available to outsiders, but tho local branch of the Vacuum Oil Company retorts that it was careful to give no information to anyone, and that in any the garage people should have been wide awake enough to know the position of the- market. • A reporter yesterday visited, tho principal garages in this city..with a view to ascertaining what supplies were available and what prices wore being quoted. In no case was a largo supply reported, and the prices quoted were 40s and 30s per case. Two firms stated that thev were supplying their own clients at the lowest prico for which they themselves could obtain delivery, and were buying no more petrol than was absolutely necessary to fill their own and their clients' reasonablo requirements. Ono of the principal taxicab proprietors said he could obtain sufficient petrol to keep his cabs in commission and supply clients. Another firm stated that it had only supplies sufficient to keep its own demonstration cars running for two days, hut that it had no intention of paying fancy prices for petrol. The opinion was universally expressed that there was plenty of petrol in Christchurch, and that it would soon come on to the market at a reasonable price, as no one was likely to pay famine prices when no real famine existed. A leading firm of importers stated it had 1000 gallons arriving by tho Mokoia,, available for delivery to-day, and it intended selling at 30s a case in order to check a further rise of prices. A shipment of 500 cases would shortly arrive for this firm from Australia, and it would be at once placed on the market at the lowest possible prico in order to compel speculators to release their stocks at reasonablo prices. Others stated that they expected supplies within periods varying from a week to four weeks. The statement attributed to the Wellington manager of the Vacuum Oil Company, that there was no real shortage, and that he was filling orders at normal rates, was vigorously denied locally, and tho reporter was shown tele(irams from Foxton offering petrol at 32s 6cl, and from Palmerston North at 40s, showing that the shortage was quite as acute in Wellington province as in Canterbury. A telegram to the Wellington branch of tho Vacuum Oil Company yesterday elicited that there were no supplies there at all, while the Christchurch branch is also unable to give deliveries. In regard to the Hohenfels's cargo, no definite information is available. It is stated that she has 1500 cases for New Zealand, but ibis shipment is probably a mixed one of kerosene, naphtha, benzine and lubricating oil, an<l the proportion of petrol is unknown. Orders for quick delivery have recently been taken by a local firm, which is relying on drawing on a' bulk supply in Australia; but it is expected that, as this spirit will have to be canned, and as the passenger steamers will only carry 500 cases at :. time, delivery may be somewhat late.

Speculators were yesterday offering petrol to the various garages at 35s a case, but very little, if any, business was done at this figure. A cablegram sent by a Christchurch motor importing firm, to Melbourne yesterday, asking for a quotation for a large supply of petrol, met with the reply: "Cannot quote. None available."

THE POSITION IN AUCKLAND [Per Press Association.] AUCKLAND. May 6

Further inquiries made with regard to the shortage of benzine indicate that opinions ns to the position aro diverse, and conflicting .statements were mot with. The proprietors of one or two largo motor garages stated that tho position was by no means acute, and that they were not alarmed as to being; able to procure sufficient supplies until the next shipment arrives. On the other hand, wholesale merchants and large retailers definitely stated that the Vacuum Oil Company has been totally unable to supply any benzine, and that it in turn is compelled to refuse customers who order it. One large distributor informed a " Herald " reporter that up to last week about a tenth-of his orders had been filled, but now not a single case was procurable. Tho immediate consequences in some cases were extremely .serious, as the river launches which colloet and convcv daily supplies of milk to factories in the country wore useless, and consequently the milk was being wasted. The ordinary price of benzine is lis 6d per care, but owing to tho scarcity it would bo possible, n merchant stated, to sell hundreds 01 cases nt the present time at anything from 20s to 30s per case. Tt is understood that those who still nave a few cases left in stock aro asking about £1 j per case.

SHORTAGE AT DTINEDIN. rPzii Press Association-.] DUNEDTN, May G

Inquiries made at local aarages today elicited tho fact that the proprietors have stopped the sale of petrol to any one except their clients and then only in reduced quantities. Keen 'inquiry is being received from Christchurch for bensiino' and petrol and one firm received an order for the former at an advance of 4Jd per eallon on tho ordinary price, but it could not be supplied. ' The possibility of importing supplies from Australia is being considered.- The Melbourne branch of tho Imperial Oil Company is understood to have, only a limited quantity beyond ordinary requirements.