How stupid is Turnbull, page-84

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    The price of pe
    The price of petrol was set by the Howard Government back in 1997 at the request of BIG Oil by tying it to the Singaporean
    refinery wholesale price with add ons for transport etc etc. This was payback to the multinationals for their help in getting
    Howard/Costello elected. BIG oil wanted this formula because it is outside the jurisdiction of the ACCC and can be manipulated
    via their two main refineries in Singapore. Since then Big Oil has closed down most of its Aussie oil refineries.
 
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