Oil prices on the march up


Crude oil drives increase: Crude oil drove the increase. The index for mineral fuels was up 7.3 per cent over the quarter, and a whopping 53.9 per cent for the past 12 months. But it’s not just imported oil that is getting more expensive.

Animal, vegetable oil prices rise 22.9pc during year: During the March quarter, there were also increases for animal and vegetable oils (up 6.3 per cent for the quarter and 22.9 per cent for the year), manufactured goods by material (tip 2.2 per cent for the quarter) and miscellaneous manufactured articles (up 2.2 per cent).

Commodities up 37.5pc: Over the full year, apart from mineral fuels, there have been big increases in commodities and transactions (37.5 per cent) and crude materials (9.1 per cent).

Good news for exporters: The news is good for exporters with the index up 5.1 per cent during the quarter and 22.9 per cent over the past 12 months.

The Canberra Times, 22/4/2006, p. 23

Source: Erisk Net  

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