Petrol Retailers' welcome investigation on oil price manipulation

Published 15/05/2013 00:00:00 in Press Releases

The Petrol Retailers’ Association (PRA) welcomes the move by the European Commission to investigate alleged oil price fixing by the major operators.

The PRA submitted a complaint on oil price fixing to the Office of Fair Trading (OFT) in January 2012.

Brian Madderson, PRA Chairman, commented “The UK's competition authority rejected industry calls from the PRA, supported by Robert Halfon MP and his cross-party group of backbenchers, to examine oil price and wholesale cost movements.

“Earlier this year the PRA drew attention to the 8pence per litre (ppl) increase in wholesale cost of petrol from end December to late February which could not be explained by new geo-political issues or other economic factors.

“More recently, our independent petrol retailers have seen wholesale costs move by over 5.2ppl in less than seven days.

“Such volatility has been a relatively new and unwelcome market phenomenon which cannot be explained to confused and irate customers on our forecourts.

“Independent retailers hope this Europe led investigation will help to provide the proper price transparency that consumers and businesses deserve and need.”

ENDS

NOTES TO EDITORS:

Keely Scanlan, Press Officer
Tel: 020 7307 3410
Mob: 07825097697
Press Office direct line: 020 7307 3422   
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk       Email: keely.scanlan@rmif.co.uk

The Petrol Retailers’ Association is an association within the Retail Motor Industry Federation (RMI) which represents the interests of operators in England, Scotland, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses.

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