49
Dairen.
Unit of sale.
Retail selling price
Duty
Nett retail selling price
American Gallon.
.66 Japanese sen.
.nil.
66 Japanese sen.
Converted into Hong Kong currency at rate of Yen 146-H.K. $100, and into
Imperial Gallons at rate of 1 American Gallon equals H.K. 54 cents for 1 Imperial Gallon.
England.
Unit of sale.
Gross retail selling price
Duty
Nett retail selling price
0.8325 of an Imperial Gallon, this
Imperial Gallon.
.1/5d.
8d.
9d.
Converted into Hong Kong currency at rate of H.K. $1.00=1/8d. this equals H.K. 45 cents for 1 Imperial Gallon.
Canton.
Unit of sale.
Gross retail selling price
Duty
Nett retail selling price
American Gallon.
.97 cents H.K.
41 (40 to 43 c. H.K., say 41). 55 cents H.K.
Converted at rate of 1 American Gallon=0.8325 of an Imperial Gallon, this equals
II.K. 66.7 cents for 1 Imperial Gallon.
Hong Kong.
L'nit of sale.
Imperial Gallon.
Gross retail selling price
$1.10.
Duty
.25.
Nett retail selling price
Nett retail selling price
.85 prior to 25.12.34, .75 since 25.12.34.
Summary.
Gross returns to Oil Companies on one Imperial Gallon reduced to Hong Kong cur-
rency.
Shanghai Dairen
England
Canton Hong Kong
51 cents,
54
45
33
""
66.7
"
85
"
before 25.12.34,
75
since 25.12.34.
2. While realising that the discrepancies revealed in this table were partly ac- centuated by the conversion of prices into terms of Hong Kong currency, neverthe- less we felt that some explanation was needed of the apparently excessive charges in Hong Kong and we accordingly requested the views on this matter of the three big oil concerns in the Colony.
3. Summarized briefly, the explanations given by the Oil Companies are as follows:-
"A." Owing to over production throughout the world prices of petroleum products have been forced down to unremunerative levels, and as a consequence the major distributing companies have been faced from time to time in various parts of
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