FairFuelUK (FFUK) is calling for an investigation into the UK fuel market. FFUK wants the Office of Fair Trading (OFT) to take the issue on, after a report commissioned for G20 Finance Ministers warned oil traders may have been artificially inflating wholesale prices. It also wants the financial regulators to look at whether traders and speculators have, in the style of the banks and the Libor rate, “fiddled” the benchmark trading price for oil. In a statement the campaign group […]
The industry has welcomed the prime minister’s pledge to look at finding a way to avoid any more fuel duty rises during the current parliament.
FairFuelUK and its backers were joined by 100 MPs at the Houses of Parliament on Monday [4 March], where 40 MPs signed a letter calling upon the chancellor to cut fuel duty.
The founder of campaign group PetrolPromise has expressed his disappointment after the Office of Fair Trading (OFT) decided against launching an investigation into the UK petrol and diesel market. Campaign founder Robert Halfon, MP for Harlow, said: “I am grateful to the OFT for their work. But it is disappointing that they will not hold a full inquiry. For example, they admit that there is a problem with poor competition in many towns but they are not taking action.” “Government […]