Petrol Retailers' support MP’s decision to hand petition to the OFT

Published 12/07/2013 00:00:00 in Press Releases

The Petrol Retailers’ Association (PRA) fully support Robert Halfon MP’s campaign and petition for a full Office of Fair Trading (OFT) enquiry into Oil Pricing Process.

The PRA submitted a formal complaint in February 2012 to the OFT regarding competition in the market for retail road fuels.

Our call for a full UK Market Study was supported by many other trade associations and the cross-party group of MP’s led by Robert Halfon.

Despite the obvious lack of transparency and the increasing volatility of wholesale costs, the OFT decided to turn their back on the problems and announced in January this year that they had insufficient evidence to warrant an investigation.

Robert Halfon MP has now called upon other MP’s from all parties to join him on Monday 15 July to hand in a 30,000 signature petition at the OFT calling again for a full and transparent inquiry.

Brian Madderson, Chairman of the PRA said, “We fully support the decision to hold the OFT to account following their failure to act on allegations that included concerns that the wholesale oil price might be subject to manipulation. PRA submitted a further complaint in February 2013 citing the unexplained rise in the wholesale cost of petrol by nearly 10ppl over just a few weeks.

“The subject of oil price manipulation is one that has evoked too much disquiet (the G20 Finance Ministers raised this possibility over two years ago) and whistle-blowing. It is time that our UK competition authorities grasped the nettle so that investigative action is taken.

The PRA fully supports this protest as it confirms our position in the industry as instigator of a call for a vigorous inquiry by the body responsible for upholding fair competition in the UK”.

 

ENDS

 

Notes for editors:

 

Rupal Rawal, Communications Assistant
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: rupal.rawal@rmif.co.uk
The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

 

Back to Articles
Back to Articles

Cookies

This site uses cookies. Some cookies are essential to ensure our website works for you in the best possible way. You may delete and block all cookies from this site, but parts of the site may not work. To find out more about cookies on this website and how to delete cookies, click here to see our cookie statement.

Close