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Petrol prices inquiry launched

The Office for Fair Trading has opened an investigation into petrol and diesel prices. It has issued a "call for information" as it looks to see whether reductions in the cost of crude oil are being passed on to motorists.

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Motoring charity encourages scrutiny of petrol prices

An independent motoring research charity has welcomed the news that the Office of Fair Trading will be gathering information on the price of petrol and diesel in the UK.

RAC Foundation director Professor Stephen Glaister said:

We have always argued for pricing transparency and this review promises to provide it.

There has long been a suspicion amongst drivers that pump prices are much quicker to rise than fall. Now at last we should get a definitive answer on how the market works.

We also welcome scrutiny of what the rapid decline in the number of petrol stations has meant for fuel supply and price. In 1990 there were some 18,000 forecourts. Now there are fewer than 9,000.

– Professor Stephen Glaister, RAC Foundation

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