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, […]
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 […]
Treasury minister Danny Alexander has pledged to review FairFuelUK’s (FFUK) economic report, which shows that the planned 3ppl duty rise in January will result in 35,000 job losses and reduce GDP growth by 0.1%. During a landmark meeting yesterday (29 October) with FFUK and its major backers the FTA and RHA, the chief secretary to the Treasury made a firm commitment to look closely at the Impact of fuel duty on the macro-economy report, produced by the National Institute for […]
Calls have been made for further investigations in the UK into alleged price-fixing in the oil industry, after European anti-trust regulators confirmed they had carried out raids on several firms involved in the sector.