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Oil bill

5th June 1982, Page 5
5th June 1982
Page 5
Page 5, 5th June 1982 — Oil bill
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Which of the following most accurately describes the problem?

THE OIL industry will have to invest over f:200m during the next three years to reduce the lead content in petrol to 0.15 grammes per litre.

And, added Lynda Chalker, Transport Under Secretary, who gave this figure in the Commons, in addition the industry would require about two and a half per cent more crude oil to maintain petrol quality.

At present volumes of consumption, and assuming a future average price of crude oil of about 1250 per tonne, the additional cost would be 1150 million a year.

For lead-free petrol, the major continuing cost would be a further increase of about two and a half per cent in crude oil needed, and on the same assumption about volume and price, this would raise the cost to MOO million a year.