Oil prices and the perceived machinations surrounding them are never out of the headlines or cartoons for long. Inevitably, it seems sizeable drop in the price of crude oil results in disproportionately small reduction at the petrol pump. At the same time, any small crude oil increase quickly bumps up the price of petrol. Understandably, though, there have been regular petrol price hikes in 2004/05 as the cost of imported raw crude has soared. In 2004 the price reached US$40 barrel because of high US demand, OPEC uncertainty and Middle East instability. In early April 2005 crude oil peaked at US$58 barrel – expectations of strong demand from China and the United States the main reasons. local factor that will push petrol prices even higher was the Government’s decision, in March 2005, to increase the country’s oil reserves to 90 days.
Klarc, NZ Herald, July 11, 1990.
From the NZ Cartoon Archive, Alexander Turnbull Library, P O Box 12349, Wellington, Tel/fax 04-474 3154
The national collection of cartoons and caricatures
