§ Mr. Skeetasked the Secretary of State for Energy what is the current price of crude oil in the United States of America, Middle East and the EEC.
§ Mr. John SmithThe prices of crude oils vary widely according to their quality and the terms of individual contracts.
The average cost of imported crude to refiners in the United States during March 1975 was $13.17 per barrel, including $1.00 import fee. Supplies of cheaper domestically produced crude reduced the average acquisition cost of all crude to $9.30.
The average price of Saudi Arabian light crude in the Middle East is believed to be about $10.20-$10.25.
Up-to-date details of the average cost of oil imports into the EEC are not readily available. The average cif price of imported crude in the United Kingdom in June was £37.43 per ton, equivalent to $10.90 per barrel.