- 17 updates
RAC technical director David Bizley said the oil price fixing allegations were "worrying news for motorists" who are already suffering due to the high cost of keeping a vehicle.
He added: "The Office of Fair Trading inquiry concluded at the end of January that the UK fuel market was operating fairly and not against the best interests of motorists, and therefore that a Competition Commission investigation was not needed.
"Motorists will be very interested to see what comes of these raids. Whatever happens the RAC will continue to campaign for greater transparency in the UK fuel market and for a further reduction in fuel duty to stimulate economic growth."
Tory MP Robert Halfon has led a campaign calling for a full investigation into alleged cartels and market manipulation in the oil market for the past three years.
The Harlow MP, who founded the www.PetrolPromise.com website to campaign for cheaper petrol and diesel, said:
Shadow energy and climate change secretary Caroline Flint said:
Shadow financial secretary to the Treasury Chris Leslie said:
Statoil has confirmed a raid took place at its headquarters in Stavanger, Norway, earlier today.
Statoil said the inspection was carried out by the EFTA Surveillance Authority with the assistance of the Norwegian Competition Authority.
A statement on the firm's website said the inspection was carried out "on request of the European Commission".
"Statoil is cooperating with the authorities in their inspection", it added.
BP said it is "cooperating fully" with the EU's anti-trust body after it launched an investigation into allegations of oil price fixing.
A spokesperson said: "BP is one of the companies that is subject to an investigation that was announced earlier today by the European Commission.
"We are cooperating fully with the investigation and unable to comment further at this time", they added.
Shell has confirmed it is "fully cooperating" with the European Commission after the EU's anti-trust body launched an investigation into claims of oil price fixing.
A spokesperson said: “We can confirm that Shell companies are currently assisting the European Commission in an enquiry into trading activities.
"We are fully cooperating with the investigation. For legal reasons we cannot make any further comment at this stage”, the spokesperson added.
The European Commission is investigating the possible fixing of oil prices - there are reports that Shell, BP and Statoil have been raided.
This is potentially a very big story - it relates to the possibility an index like Libor that is used to price oil has been manipulated.
Shell and BP both confirm they are taking part in investigations, but they will not say much for legal reasons.
Latest ITV News reports
It is possible some of our biggest oil companies have been breaking the rules. If true drivers may have been paying over the odds for years.