PRICE OF PETROL TO INCREASE
PA WELLINGTON, Nov. 3. The retail price of petrol is to be increased from 3d to 4d a gallon in the near future. The new price is not likely to be officially announced till after the general election, or to become effective before then, and it is possible that the price will be gradually increased. The price rise will follow the similar movement in Great Britain, South Africa and Australia. An increase of 3jd a gallon has been authorised in Britain, though up till late last month the actual increase was 2sd. An increase of 3£d was authorised in Australia within the last few days. A rise in the price of petrol in New Zealand became inevitable when price increases were allowed in other parts of the Commonwealth, persons closely in touch with the industry said to-day. There could, in effect, be only one world price for petrol—the sterling area could not sell it cheaper than the dollar area. If it did so, all petrol produced in the sterling area would be bought up by the dollar area. About 92 per cent, of the petrol produced in the world was stated to have “ dollar implications.” The new petrol price is expected to affect the prices of all other petroleum products.
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Otago Daily Times, Issue 27229, 4 November 1949, Page 6
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215PRICE OF PETROL TO INCREASE Otago Daily Times, Issue 27229, 4 November 1949, Page 6
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