Plastics hit by oil price hikes, supply shortfalls

CHRIS CLARK: Paying $1.10 for a litre of petrol is bad enough, but the impact of high oil prices doesn’t stop there. When oil goes up, so does the cost of another of life’s essentials, as Stephen Long explains.

STEPHEN LONG: When it comes to rising oil prices, this is only part of the story. Plastic comes from oil — and plastic is everywhere. You may think of plastic as cheap, but it’s cheap no longer.

NOEL WILLIAMS, MANAGING DIRECTOR, DOW CHEMICAL: Prices of plastics have moved from maybe a year to 18 months ago from a $700 level up to $1,500 a tonne in US dollars and that’s been across the board on just about all the plastics.

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