FairFuelUK (FFUK) has received more than 15,000 signatures of support in the past day backing its call 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, […]
Home delivery specialist Hermes has branded the Chancellor’s decision to implement a 3ppl rise in fuel duty as “a disaster for the haulage sector”. Jon Tobbell, commercial director at Hermes, says: “Whilst we welcome the freeze in Vehicle Excise Duty, it pales into significance when compared to the pain being experienced by hauliers as a result of the rising price of fuel. “At Hermes we have seen a 30% increase in fuel costs and now spend well over £10m annually. […]
The Office of Fair Trading (OFT) has been branded ‘complacent’ and accused of carrying out a ‘continued whitewash’ after insisting that its study last year of the UK fuel market yielded no credible evidence of any market manipulation.
FairFuelUK (FFUK) has published new research “that blows the current thinking around fuel duty out of the water”, according to the head of the campaign.