§ 43. Lieut.-Colonel SPENDER-CLAYasked the President of the Board of Trade whether his attention had been called to the comparative price of petrol in London and New York; whether the wholesale price in London is 2s. 8d. and 2s. 6d. per gallon for No. 1 and No. 3, as compared to a price of 1s. 4d. per gallon in New York; whether his attention had been drawn to the recent rise in value of oil shares; whether there is evidence of profiteering in an essential commodity; and what action he proposes to take in the matter?
§ Mr. BRIDGEMANIn comparing the prices of petrol in London and New York it must be borne in mind that the London price includes 6d. Import Duty, freight, and costs of handling in this country. On the information before me I am not prepared to say that the margin of profit is excessive.
§ Lieut-Colonel SPENDER-CLAYHas the hon. Gentleman noticed the large rise 2270 in these shares? Can he refer this question to the Committee on Profiteering for consideration?
§ Mr. BRIDGEMANI will convey to my right hon. Friend the hon. Member's suggestion.