Petrol prices 'no rip-off'

Fuel price rises have been driven by tax rises and the hike in the oil price, the Office of Fair Trading has reported. It says it finds "very limited evidence" that retailers aren't passing on drops in the wholesale price to drivers quickly enough.

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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

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