- Title: YUGOSLAVIA: RUSH ON PETROL SUPPLIES AS PRICE INCREASES ANNOUNCED.
- Date: 17th November 1973
- Summary: 1. GV Vehicles on road 0.03 2. GV ZOOM IN Cars queue at petrol station for petrol 0.11 3. SV & CU Cars fill up with oil and petrol (2 shots) 0.16 4. SV PAN Station to queue of cars and trucks (2 shots) 0.24 5. GV PAN Light traffic to empty petrol station (2 shots) 0.35 6. CU Oil products on display (2 shots) 0.43 7. CU Petrol pump register 0.48 8. SV Cars in driveway for supplies (3 shots) 1.05 9. SV Car leaving 1.09 10. SV PAN Another car leaves 1.20 Initials BB/1701 TM/PN/BB/1722 Script is copyright Reuters Limited. All rights reserved
- Embargoed: 2nd December 1973 12:00
- Keywords:
- Location: LJUBLJANA, YUGOSLAVIA
- City:
- Country: Yugoslavia
- Reuters ID: LVA8F15SNY9IOLGDN93DYVZXN21D
- Story Text: Supplies of motor and household fuel in Yugoslavia were back to normal on Wednesday (14 November) after an earlier disruption prompted by fears that prices would rise for the second time in a month.
From the first of November, the price of petrol and other oil products in Yugoslavia rose by an average of 40 per cent. The government described it as a "temporary measure" caused by the enormous increase in the price and transport cost of crude oil from the Middle East.
Oil prices in Yugoslavia also went up nine per cent in June.
The Yugoslavian Finance Minister Janko Smole flew to Kuwait on November 8 to discuss the oil situation. Both Libya and Algeria had previously agreed to supply Yugoslavia with substantial quantities of oil. On November 9, Iraq also guaranteed Yugoslavia oil supplies by approving expert of one million tons of crude oil in 1974, twice the previous amount.
Iraq said the decision was in accordance with its policy to "sell oil to friendly countries and those not exposed as pro-Israeli."
After the Yugoslav decision to increase the price of patrol to consumers, the demand fell and noticeably fewer motorists ware using their cars for weekend trips. But by November 7, the demand rose sharply as many motorists believed a further price increase was on the way. Long queues of vehicles appeared at many filling stations.
The government announced there would be no further price increase and no rationing of supplies and by November 14 the situation had returned to normal.
SYNOPSIS: In Yugoslavia, a government decision this month to increase the price of petrol and other oil products by an average of 40 per cent has upset both supply and demand.
Sales fell initially and fewer motorists were using their cars for weekend trips. But by the end of the first week of November -- as these scenes near Ljubljana show -- demand rose sharply again prompted by fears that another privet increase was on the way. The Yugoslav government quickly announced there would be no further price rises, and no rationing of supplies and by last Wednesday there situation was back to normal.
The Yugoslav government described the 40 per cent price rise as a "temporary measure" caused by the enormous increase in the price and transport cost of crude oil from the Middle East. The Finance the Middle East. The Finance Minister flew to a number of Arab oil states to get guarantees of continued supplies of crude oil.
The Iraqi government agreed to double its crude oil exports to Yugoslavia in 1974, in line with its policy to sell oil to countries "not exposed as pro-Israeli".
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