PETROL PRICE
RATE WAR IN AMERICA. Mr S. A. Cheney, a well-known figure in the motor tiade in Melbourne, whd has returned from a trip to U.S.A., referring to tlij price of petrol in America? Estates that a rate war, following enof* mous over-production, resulted in petrol being reduced to 13 cents (6£d), afl American gallon (four-fifths of an imperial gallon). This, said Mr Cheney, was the cost id San Francisco, aud the spirit was of good quality. When further reductions seemed in* evitable, the largo companies arranged with the Government to close down oil refineries for August, in older to prevent a glut on the market, Independent coni* I anies had threatened to reduce the pricS to 5d a gallon. Mr Cheney went on that in Honolulu (sis days from San Francisco) the pricS of petrol was 9d a gallon; but in Suva; the first British possession touched oft the return trip, it was Is 10|d a gallon*. He confessed that he was at a loss to account for the widely varying prices throughout the world.
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Bibliographic details
New Zealand Times, Volume L, Issue 11655, 20 October 1923, Page 14
Word Count
177PETROL PRICE New Zealand Times, Volume L, Issue 11655, 20 October 1923, Page 14
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