THE PRICE OF PETROL.

Lyttelton Times, Volume CXXIII, Issue 15923, 8 May 1912, Page 11

THE PRICE OF PETROL.

MEASURES TO CHECK THE RISE. The condition of the petrol market in this city yesterday, showed little change from that of the previous day, save that tho highest price quoted dropped from 40s to 30s.' Even at the latter figure very little business was transacted. The conviction that the shortage is an artificial one is being rapidly strengthened in the minds of both the motor traders and motorists generally. Some motorists go so far as to declare that the garages, or some of thorn at any rate, have"larger supplies than tho.v will admit. It is stated that one firm advised its clients of tho likelihood of a shortage some time ago, with the result that motorists doing business with it are well supplied, while the firm in question, being forewarned, holds a substantial stock. Suspicion as to the realitv of tho shortage apparently militates’ against sales being .made at high prices to private motorists, while tho commercial users of motors are apparent-lv not yet feeling tho pinch. The manager of a leading firm of motor importers in this citv yesterday told a importer that he intended to use every means in his power to prevent the speculative holders of motor spirit forcing the■ prices’ ut>. He had a supn!v of 100 cases available for immediate delivery, and had completed , arrangements for further supplies to arrive in a few days, and he’intended today to oner petrol ?t nor ease to any one who Was a ' bona-fide user. This should have tho effect of reducing the price, at nil events temporarily, and speculators may thcrebv be induced to reduce their demands and assist to re.icve the pressure bv putting .their holdings on the market at reasonable re tea. .