The New South Wales Government has been forced to concede most petrol station operators claiming to have no supplies of premium unleaded fuel have been telling the truth.
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There are fears that oil companies may be manipulating diesel prices because of the current inquiry by the competition watchdog into petrol price fixing.
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Russian Prime Minister Mikhail Fradkov signed Friday a resolution on the launch of oil and petroleum product trading in Russia from August 1.
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A leading Mexican politician says the State Petroleum Company Pemex is in crisis and urgently needs to undergo radical change and modernization. James Blears in Mexico City reports for VOA.
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A row between Turkey and Iraq over the shipment of petroleum products has been resolved.
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Turkey called on Baghdad to retract an apparent change in its oil policy.
Ankara says the change makes the Kurdish authorities in northern Iraq Turkey's sole interlocutors for contract renewals of Turkish firms that ship petroleum products to Iraq.
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