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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: 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

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