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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


Average fuel prices in the UK from 2009-2012

According to the AA's fuel report in December 2012, throughout the year the cost of petrol in the UK averaged 136.40p a litre and diesel 142.48p.

Previous average pump prices across a year were:

  • 2012: petrol 136.40p, diesel 142.48p
  • 2011: petrol 133.65p, diesel 138.94p
  • 2010: petrol 117.24p, diesel 119.60p
  • 2009: petrol 100.02p, diesel 104.38p

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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