asked the Minister for Industry and Commerce if he is aware of the very severe hardship caused to working-class people because of increases in the price of petrol; and what steps he proposes to take in the matter.
Ceisteanna—Questions. Oral Answers. - Price of Petrol.
144.
There is at present the possibility of a world shortage of oil; supplies are difficult to obtain and world prices have been escalating. Freight rates for oil have also increased considerably. As a result there has been a substantial increase in the landed cost of oil. To compensate for this increase and for increases in wages and other costs, I informed the oil companies in recent months that I would not object to certain price increases on petrol and other petroleum products. Supplies of oil at present to western Europe generally are very much conditioned by the prices demanded by the oil supplying countries.