Anger as fuel price inquiry is ruled out
CAMPAIGNERS say they are "bitterly disappointed" that the competition watchdog has ruled out a full investigation into the fuel market after concluding high prices are the fault of taxes and the cost of crude oil.
The Office of Fair Trading (OFT) said competition in the sector was "working well" and there was "very limited evidence" that pump prices rise quickly when the wholesale price goes up but fall more slowly when it drops.
Furious campaigners, who had called on the OFT to announce a full investigation into the sector, said drivers would feel let down by the findings.
FairFuelUK spokesman Quentin Willson said: "UK consumers will be bitterly disappointed. Every motorist and business in Britain instinctively knows that something's not right.
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"The OFT appears to have failed to address the key issues of why diesel is more expensive than unleaded in the UK when this is not the case in Europe, why falls in the oil price take so long to be reflected at the pump and why there are such variations in price, often from the same branded forecourts, within the same area."
AA president Edmund King said: "The OFT sees the fuel pricing market as competitive but this clashes with drivers' frustration on the forecourts. If fuel pricing is fair and competitive, there is no reason not to publish petrol and diesel wholesale prices to prove the point and reassure motorists."
OFT chief executive Clive Maxwell said: "We recognise that there has been widespread mistrust in how this market is operating. However, our analysis suggests that competition is working well, and rises in pump prices over the past decade or so have largely been down to increases in tax and the cost of crude oil."
4 Comments
by farley22
Friday, February 01 2013, 9:50AM
“why indeed "Pilly40",
they are servents of the people though and i believe it is time that the people stood up and took them to task on how they are not serving us but more serving themselves and theree pompous friends in the cabinet and business.
we are systematically being robbed on so many fronts now it is more then disgusting and damm well ilegal.”
by Pilly40
Thursday, January 31 2013, 8:33PM
“Why would they do anything about it when they get 80p a litre tax back”
by farley22
Thursday, January 31 2013, 11:38AM
“bit like the leverson enquiry, it was very much needed but when it reported its findings the goverment did not like it so they sacked it and threw it in the bin... at our expense.. 4 million i believe so why would people be suprised that this efectively got binned ..”
by BS_Hater
Thursday, January 31 2013, 11:03AM
“DID YOU REALLY EXPECT ANYTHING ELSE?
The fuel companies have unlimited resources to bribe any organisation and fake any figures demanded from them.
We all know that all the allegations about fuel prices in this country are completely true but NONE OF YOU DO ANYTHING ABOUT IT.
Make the little extra on your journey to fill up at the cheapest stations EVERY TIME, others then have to drop prices to compete.
WHY DOES NO_ONE SEE THIS????”