HC Deb 27 July 1922 vol 157 cc685-6
64. Major GLYN

asked the President of the Board of Trade what is the cost of a gallon of refined motor spirit at the refineries in the United States of America in New York and in London to the consumer; what were the corresponding prices in 1914; what is the approximate rate of freight for the transport of the spirit across the Atlantic; and what prospect is there of the public requirements in petrol being available at prices which, whilst affording a rate of 10 per cent. interest to the oil companies, will help to lower prime mover costs in this country?

Sir P. LLOYD-GREAME

According to information which I have obtained from trade and other sources, the price at refineries in Philadelphia of motor spirit, of a grade distinctly inferior to No. 3 motor spirit, was, on 1st July this year, 22 cents per gallon. The price to consumers in New York was 26 cents per gallon. In July, 1914, the corresponding prices were 11 cents and 15 cents. These prices are for bulk supplies, and the standard gallon in the United States is five-sixths of a British Imperial gallon. The price in London for No. 3 motor spirit delivered in two-gallon tins at 2s. 3½d. per gallon on 1st July this year and 1s. 7d., inclusive of duty, in July, 1914. Most of the motor spirit imported into this country from the United States is carried in their own tank steamers by the oil companies and I am unable to supply information as to the cost of transport. I am afraid I cannot venture a forecast of future supplies, prices and profits.