Petrol prices 'no rip-off'

Fuel price rises have been driven by tax rises and the hike in the oil price, the Office of Fair Trading has reported. It says it finds "very limited evidence" that retailers aren't passing on drops in the wholesale price to drivers quickly enough.

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Quentin Wilson: We 'have to' bring down fuel prices

Later today the Office of Fair Trading will release their findings into whether reductions in the price of oil are being passed on to motorists.

Speaking to ITV Daybreak, Quentin Wilson from the FairFuelUK Campaign said: "[Petrol] is a forced purchase, nobody wants to make, there is a possibility of monopolistic and anti-competitive practices. We cannot afford this at the moment."

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RAC: 'We hope fuel review will bring transparency'

We hope the OFT's findings will finally bring some much-need transparency to fuel pricing.

While people understand petrol retailers' need to raise prices when industry wholesale costs go up, it is extremely frustrating to watch prices go up far faster than they ever come down.

Rising fuel prices cause economic hardship for millions and hinder the growth of the economy, so it is vital that the process is both fair and clear.

– RAC technical director David Bizley
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