OFT REPORT ON PETROL PRICES RAISES HACKLES OF BRITISH FUEL CONSUMERS

THE RESULTS of the inquiry by Britain’s Office of Fair Trading (OFT) into higher pump prices for petrol and diesel over the last 10 years appear to have wrong-footed pundits and dismayed motorists and business groups. Most people, it seems, had expected the probe, whose conclusions were announced at the end of January, to find at least some evidence of market manipulation and profiteering at various points in the fuel supply chain. They were wrong. Nobody was doing any ripping off, it argued. Higher prices in recent years had been the result of “higher crude ...


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