Downing Street said that Mr Cameron has not spoken with BP about their concern about the rising compensation costs from the 2010 Gulf of Mexico oil spill, nor did he raise the issue with president Obama or other US authorities during his visit last week. A Number 10 spokesperson said:
Ultimately this is an issue for BP. The Prime Minister will always listen to the concerns of British businesses and consider any issues raised.
The Office of Fair Trading (OFT) has defended its investigation in to petrol pricing saying that it lacked information:
The Office of Fair Trading carried out a call for information on UK road fuels, the findings of which were published in January of this year.
As part of this call for information, the OFT asked for evidence on whether speculation or manipulation of oil spot and futures markets or inaccurate oil or wholesale road fuel price reporting could be leading to higher pump prices.
The OFT stated these issues could potentially raise serious concerns but no credible evidence was submitted to the OFT in response to the call for information.
The European Commission has confirmed on May 14, commission officials carried out several unannounced inspections in a number of countries at the premises of companies active in and providing services to the crude oil, refined oil products and biofuels sectors.
The investigation is being conducted by and is a matter for the European Commission, and the OFT is currently assisting the commission with its inspections in the UK.
– Office of Fair Trading statement
In January the OFT found that price rises were driven by tax rises and the hike in the oil price, and said it found "very limited evidence" that retailers were not passing on drops in the wholesale price to drivers quickly enough.
A Conservative MP blasted an Office of Fair Trading (OFT) inquiry into petrol prices as "limp-wristed and lettuce-like" in the wake of price-fixing allegations.
Harlow MP Robert Halfon, who has campaigned for cuts to duty and greater transparency in the market, said despite the Commons unanimously calling for a thorough probe into petrol pricing, the regulator failed to spot any of the allegations currently under review.
Mr Halfon said: "Do you not agree that what happened was the OFT carried out a limp-wristed, lettuce-like inquiry when they should have done a full 18-month inquiry into what has been going on?"
Energy Secretary Ed Davey defended the OFT as an "independent body, a strong body", which has powers to determine its own investigations.
Mr Davey made a statement updating MPs on the launch of a European Commission investigation into oil companies BP, Royal Dutch Shell and Norwegian company Statoil.
RAC technical director David Bizley said the allegations were "worrying news for motorists" who are already suffering due to the high cost of keeping a vehicle:
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.