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Inflation has been slightly higher than projected. Measured by the consumer price index (CPI), inflation is now higher than 3%. A strong rise in prices for electricity and petrol has pushed up CPI inflation since autumn 2007. Inflation has increased in many countries. Oil and gas prices have risen further through spring. Capacity utilization in Norway is high. An ample supply of labor, strong productivity growth and considerable terms of trade gains through several years have boosted the growth potential of the Norwegian economy. Growth in the Norwegian economy seems to have slowed as expected in 2008 Q1. Enterprises in Norges Bank's regional network report high capacity utilization but moderating growth in most of the industries. Monetary policy in Norway is oriented towards annual con...
Asked by The Weekly Gleaner whether the price increase by Petrojam could have been tempered to a smaller percentage, Mr. daCosta said, "We don't usually absorb the cost. Oil price is a commodity with an international benchmark and if you sell below that your operation won't be viable," he explained. Mr daCosta added that oil has to be paid for in foreign exchange and, therefore, movement of the exchange rate must affect local prices. Unleaded (87) $43.98 P/L from $40.46 P/L Auto diesel $41.01 P/L from $38.22 P/L
WASHINGTON (AP) - Soccer moms and commuters aren't the only ones feeling the bite of rising fuel costs - every time the price of gasoline goes up a penny it costs the Postal Service $8 million. We are definitely feeling the pressure," Deputy Postmaster General Patrick R. Donahoe told The Associated Press.
Senate Majority Leader Harry Reid's attempt to raise taxes on U.S. oil companies Tuesday night would not have lowered the $4 price tag on a gallon of gasoline. The political stunt fell short of the 60 votes needed for passage, but Mr. Reid vowed to bring back the attack on "big oil" before any final deal on next year's budget or the debt ceiling could be reached. At a press conference just prior to the vote, Mr. Reid read notes from a Congressional Research Service (CRS) report that concluded the Democratic bill would not raise gas prices. The Washington Times' Emily Miller asked Mr. Reid if his legislation would lower the price at the pump, and Mr. Reid said no: "I think that it's not going to have any effect on the price of gasoline." The Democratic leader said he wanted lower petrol ...
CAMBRIDGE, England, March 15, 2011 /PRNewswire/ -- etyres, the UK's leading online tyre company, is backing the national FairFuelUK campaign, led by prominent motoring expert Quentin Willson, as petrol and diesel prices reached record heights in March 2011. With the prices set to soar even higher in April following a second VAT hike so far this year, the online tyre company has added its support to the campaign.
SHARE PRICES ON BURSA Malaysia have been on the downtrend since the March 8 general election. This is compounded by the knock-on effect of the sudden steep hike in petrol pump prices and weakening consumer sentiment. A quick look at the top 10-20 stocks which are still holding up the benchmark Kuala Lumpur Composite Index (KLCI) will show likelihood of the local equity market already trading below its post- election low.
A RISING disposable income following the hefty increase in salaries of nearly one million civil servants, a reduction in corporate tax to 26% by 2008 and the Government's commitment not to hike petrol prices are expected to benefit the food and beverage (F&B) sector. `Consumer sentiment should remain positive,' says Khair Mirza, an analyst at Aseambankers equity research.
SOMEWHERE, deep in the bowels of the Beehive, busy bureaucrats are dusting off an enormous, 25-year-old file entitled Carless Days. As soaring petrol prices and fears of a terrorist-caused shortfall in the oil market pushes the energy panic button, this is just a precaution, but it does raise some interesting questions about how much we have learned from past energy disasters and how many times we want to keep making the same mistakes. Back in the late 70s and early 80s, New Zealand found itself about where it is now, a potential victim of the fickle world oil market. A concerted effort was started to insulate the country from external fluctuations in fuel supply and price. Carless days were introduced, where people were banned from driving their vehicles on predetermined dates to reduc...
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