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 […]
Chancellor George Osborne has postponed the 3ppl fuel duty rise planned for 1 August until January 2013. Following lobbying by FairFuelUK (FFUK), culminating in a threat from the Labour Party to force a vote on an amendment to the Budget legislation earlier today, Osborne announced the freeze. However FFUK founder Peter Carroll says: “There are serious longer-term issues to address on fuel taxation and pricing – but for today, we thank the government for listening and acting.” Robert Wilcox, MD […]
Last month to the collective relief of the road transport industry, chancellor George Osborne froze duty once again, announcing September’s 3ppl increase would not happen.
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.