House debates Questions without Notice

Fuel Prices

Tuesday, 8 August 2006 House of Representatives

John Howard

John Howard Bennelong, Liberal Party, Prime Minister

3:02 pm

I did not make the prediction attributed to me. I said that there was in the immediate term no likelihood of it going down but I entertained the hope—and I think I used that expression rather than making an educated projection—that it was possible that it might return to a lower level, and I think I did indicate that. I gave no time frame to it. I do not in any way withdraw what I said. I am grateful that what the member for Hunter has done by his question is to confirm the fact that the price of petrol is overwhelmingly governed by the world price of crude oil. I think that is a very valuable acknowledgement in the current debate and I thank him for it.

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