PETROLEUM.

Timaru Herald, Issue 170270, 15 July 1920, Page 4

PETROLEUM.

QUESTION OF SUPPLIES

INCREASE IN PR-ICE.

Recent advices from California (says a Wellington paper) point to the fact that exports of petroleum products must dwindle to a jninimum unless there is a radical change in 'he oil situation. The refiners are refusing to accept orders for gasoline or. for the lighter oils, but this is not expected to affect the contracts now in hand. Lubricating products may be obtained, but orders for tho export of kerosene were refused in April last. '■According to the export returns of kerosene and benzine from California for the year ending June, 1919; NewZealand was the largest customer, _as i the following figures . show. .During j tho year under review the refineries ! exported £6,525,000 (approximately) worth of oil, nnd the Chinese, and Japanese makets absorbed all the kerosene that could bo shipped. Of the total value of exports.- New Zealand was debited with £1,108,500, China £1,090,250, Australia with £755,500; Japan '£404,500, and'the- Philippines with £692,500 worth. ' The Board of' Trade bas sanctioned fin increase in'the price of benzine by |2s 6d.per case. Although the publio j are paying what is considered a~ fairly stiff price at present the landing and freight charges, it is held,-justify the increase, nnd as the companies are I securing a good price, New Zealand may soon have larger stocks to' meet j the present scarcity. The present po- ' sition is said to be far from satisfac- | tory, and some importers say they can I only hope that supplies will be well maintained.