LOCAL PETROL PRICES.
NO ALTERATION EXPECTED.
RECENT DECREASE IN LONDON
No alteration in the price of petrol in New Zealand is anticipated in sympathy with the fall to Is Ijd a gallon, announced from London by cablegram last weeiL Competition among the oil refineries has developed into a "petrol war", in California, in which reasonable margins of profit have been sacrificed to the general delight of twenty million users of motor in the United States. A few weeks ago petrol was retailing at 15 cents, or 7|d a gallon, in many parts of America. The price-cutting began seriously in April, when first grades were sold to bulk dealers at 12i cents and second grades at 10£ cents.
The latest London price of Is l£d retail is Id below the price which has ruled during the last six months. In February the price in principal English centres stood at Is s£d. It then fell 2d, and within a few weeks another Id, the price of Is 2jd being then maintained up to the latest fall.
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Bibliographic details
New Zealand Herald, Volume LXIV, Issue 19717, 17 August 1927, Page 10
Word Count
174LOCAL PETROL PRICES. New Zealand Herald, Volume LXIV, Issue 19717, 17 August 1927, Page 10
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