Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Crude oil price increases = petrol increases

17 August 2000 Media Statement

Crude oil price increases = petrol increases, but not the other way around

Petrol prices increases today reinforce the need for a benchmark petrol price, Deputy Prime Minister Jim Anderton said.

"Crude oil prices go up and down all the time. But it seems that when they go up petrol prices increase yet when they go down oil companies say crude oil is not a major factor in petrol prices," Deputy Prime Minister Jim Anderton said.

"A month ago crude oil prices were at a high of $NZ 66 a barrel. At that time petrol was $1.119 a litre.

"Over the next two weeks they plummeted to $NZ 55.72 a barrel. But the petrol price did not change.

"Since then crude oil prices have increased and so have petrol prices, by 3 cents on the 7th of August and another 3 cents today.

"It seems that crude oil price increases have a marked effect on petrol prices but crude oil price decreases do not.

"These contradictory signals from petrol companies reinforce the need for a petrol price benchmark.

"Petrol and crude oil prices move all the time. All New Zealanders want to know what is a fair price at any given moment.

"A benchmark price would take into account crude oil price movements and would allow more informed debate on this issue.

Jim Anderton said oil companies appear to be colluding in their attempt to blame tax for the price of petrol.

"What they are asking for is a government subsidy for increased petrol prices.

"When petrol prices go up spending on other goods goes down. So higher petrol prices do not deliver a net increase in total GST revenue received by the government.

"Petrol companies know this. If they can't tell the truth about this why should the public believe them about anything else," Jim Anderton said.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news