THE OIL WAR.

Otago Daily Times, Issue 19013, 8 November 1923, Page 3

THE OIL WAR.

WHY PETROL HAS FALLEN. SOME INTERESTING FIGURES. A genuine war is said to have broken out. between the ."rent bnrona of the oil industry (S,:yri the Sydney Daily Telegraph). That accounts, in a measure, for concessions t<> consumers in which Australian users have participated lately. In 1 lie mass, Australians have more than a mete, ephemeral interest in the "oil war.' That Kiel is demonstrated by official figures relating to imports of oils into the Commonwealth. The records show that during the year J9'22-2'i, petroleum spirit, valued for Customs purposes at £3,521,643 was received into Australia. In addition, kerosene valued at ,£780,069 was received, and lubricating, mineral oil worth £6l 1,454. The total value of the group, including minor imports, was £5,380,297. From the United States, which is the seal of the price war now raging, Australia purchased, during 1921-22, no less than 30,600,Ollt) gallons of oils of various kinds. In the previous year imixirls from the same somco van to 38.810,000 gallons, the bulk, in both veins, being petrol, kerosene, otc. At the rate of consumption indicated by those figures, the reduction in the country's ‘'oil hill," caused by the cut in prices registered recently, must represent a considerable aggregate amount, and for his more or less modest share in the results the motor owner in Australia is devoutly thankful. When about to fire its first shot in the campaign, the Standard Oil Company of Indiana, U.S., cleared for action with an announcement of adherence to its established policy "that customers should never be compelled to pay a higher price Ilian that maintained and fixed by competitors.” If. accordingly reduced its price by 6.6 cents a gallon. The slashing of prices which has followed is proving so beneficial for "customers" of that and other “combatants" in the "war." that they are disposed to invoke blessings upon the organisation that fights longest and goes furthest in the battle.