Office Of Fair Trading And Fuel Prices

EDM number 1000 in 2012-13, proposed by Robert Halfon on 30/01/2013.
Categorised under the topics of Industry and Oil, petrol and natural gas.

That this House is disappointed that despite a unanimous vote in Parliament calling for an investigation, the Office of Fair Trading (OFT) has refused to hold a full inquiry into allegations of anti-competitive behaviour in the petrol and diesel market; notes that their decision is despite evidence of market abuse handed to them by hundreds of independent petrol stations, transport firms, small businesses and members of the public through RMI Petrol, the AA, petrolpromise.com and FairFuelUK; further notes that even the OFT report admits that over the last 10 years the combined gross margin for refining, wholesaling and retailing has increased by 3.4pence per litrefor petrol and 7.2 pence per litre for diesel and that taking account of inflation, this represents an increase in real terms of 14 per cent for petrol and 41 per cent for diesel; and therefore calls on the OFT to reconsider its decision not to hold a full inquiry and to step up the pressure on the oil companies and financial speculators who are pushing up prices at the pump.

This motion has been signed by a total of 30 MPs.