Live updates

OFT recognise 'widespread mistrust' in fuel market

We recognise that there has been widespread mistrust in how this market is operating.

However, our analysis suggests that competition is working well, and rises in pump prices over the past decade or so have largely been down to increases in tax and the cost of crude oil.

Our call for information has not identified any evidence of anti-competitive behaviour in the fuel market at a national level, where competition appears to be strong.

There may be some issues at a local level. Where we receive evidence of potential anti-competitive behaviour we will consider taking action. For example, we have recently opened an investigation into the supply of road fuel in the Western Isles of Scotland.

– OFT chief executive Clive Maxwell

Dept for Energy considering response to fuel prices report

The Prime Minister's official spokesperson was asked whether the PM was disappointed at the Office of Fair Trading's report into fuel prices.

She said it was for the OFT to look at the issue, adding that they have made it clear that if there is further evidence of alleged price fixing, they will look into it and take action.

But for now, the Department of Energy and Climate Change is considering its response to the OFT's report.


Concerns over fuel prices at motorway service stations

The Office of Fair Trading said its investigation into the UK fuel market identified a lack of pricing information on motorways as a concern and it not rule out taking action in some local markets if there was "persuasive evidence of anti-competitive behaviour".

In August 2012, prices were on average 7.5ppl higher for petrol and 8.3ppl higher for diesel than at other UK forecourts.

OFT: UK fuel market 'working well'

Competition is "working well" in the UK road fuel market and rises in pump prices over the past decade are largely due to increases in tax and the cost of crude oil, according to an Office of Fair Trading report.

It found "very limited evidence" that pump prices rise quickly when the wholesale price goes up but fall more slowly when it drops.

The Office of Fair Trading has completed its review into fuel prices. Credit: Press Association


Load more updates