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.
– OFT chief executive Clive MaxwellThere 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.
Fuel prices 'due to taxes & oil prices - not retailers'
Despite enormous price rises in the last few years, an Office of Fair Trading report into the UK's fuel market found it is 'working well'.
The fuel price questions I want answering
Pump prices are rising yet again. The wholesale cost has risen almost seven per cent since Christmas alone. Now they want answers.