AAP General News (Australia)
08-24-1999
VIC: BP says crude oil prices have doubled
Oil companies have hit back at criticism over petrol price hikes in the past six months,
saying crude oil prices have doubled.
BP has released data showing world crude oil prices have doubled in the past six months
from $US10 a barrel to about $US20 a barrel, meaning an inevitable price rise.
State consumer affairs ministers last week ordered the Australian Competition and Consumer
Commission to investigate the movement in petrol prices over the past six months.
Meanwhile, the manager of government relations for the Royal Automobile Club of Victoria
DAVID CUMMING says there have been over 50 inquiries and another would be a waste of time.
He says what would help motorists is an end to Federal CPI indexation of the petrol tax
which is currently 43.05 cents per litre.
AAP RTV hmg/er/sjg/rat/wz/pjg/am
KEYWORD: PETROL RACV (MELBOURNE)
1999 AAP Information Services Pty Limited (AAP) or its Licensors.
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