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Oil price fix claim warning

The Energy Secretary Ed Davey has said that the 'full force of the law' will come down on oil firms if it turns out that they did manipulate oil prices. Oil firms Shell, BP and Statoil were raided as part of an inquiry into possible price fixing.

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Breakdown of the petrol price at UK pumps

The price of petrol at UK pumps has increased significantly since 2004, but the majority of that is down to tax.

In 2004 a litre of petrol cost, on average, 80p - 59p of which was tax. In 2012 the average price jumped to £1.36 as tax rose to 81p:

A breakdown of UK petrol prices in 2004 and 2012. Credit: ITV News

But despite the price of petrol increasing in the UK, the Office of Fair Trading found that - pre-tax - the country has some of the cheapest road fuel prices in Europe:

How the UK's petrol prices compare with the rest of Europe. Credit: Office of Fair Trading

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