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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