PRICES OF PETROL

Taranaki Daily News, 22 December 1932, Page 2

PRICES OF PETROL

INQUIRY IN AUSTRALIA. ALLEGED EXCESSIVE PROFIT. Sydney, Dec. 8. An investigation into costs and prices of petrol and motor oils, following allegations that importing companies are making excessive profit, has been ordered by the Federal Government, which has asked the Director of Development, Mr. John Gunn, to make a searching inquiry and given him authority to coopt technical advisors, states the New Zealand Herald correspondent. The powers which Mr. Gunn will possess to obtain evidence and access to documents are of particular interest, because when Mr. Fenton was ActingPrime Minister, customs officials who were appointed by him to conduct a similar inquiry were refused information by one of the major importing companies, and the inquiry proved abortive. The Prime Minister, Mr. Lyons, said one reason for the inquiry was the effect which oil and petrol prices had upon production costs in primary industries. The inquiry would be confined to imported petrol and petroleum products, and would cover as far as" -possible phases of the industry from source of production to consumer. Particular attention would be directed to. the prices of petrol and other petroleum products, and the various factors associated therewith; the contributions of the industry to revenue; and any other matters having a bearing upon current prices. Mr. Lyons said:—“Having in view the desire for a comprehensive survey of the industry and the general interest of the vendors and the community in the volume, of consumption and in price levels, which render increased consumption practicable, there is hope that all sections will render the utmost co-operation to ensure that the inquiry will be facilitated." . >.