Business Services Industry
City fuel tipped to fall 7c as world barrel prices tumble.
Australasian Business Intelligence, September, 2001
Sep 26, 2001 (The Sydney Morning Herald
ABIX via COMTEX) -- Within days, petrol prices in Sydney should fall $A0.07 a litre. The Organisation of Petroleum Exporting Countries has lowered prices within its cartel while maintaining production levels, to some degree as a response to the international economic situation. Oil prices dropped 15 per cent on 25 September 2001 to $US22.01 a barrel. The terrorist attack on the US has resulted in reduced demand for fuel. However, the chief executive officer of the Service Station Association, Kevin Hughes, said any military action or a repeat of the terrorist action on the US will push prices higher quickly. Northern Hemisphere demand for oil is also likely to increase with the onset of winter.
SERVICE STATION...
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