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Reaction to OFT fuel cost report

30 January 2013 #CV Sector #News #Truck #Van

The transport industry has reacted fiercely to the Office of Fair Trading (OFT) report on fuel prices in the UK.

Today’s verdict ruled that no inquiry into the price of petrol and diesel was necessary, and that rising costs are in line with the increase in price of crude oil and tax.

The Petrol Retailers Association (PRA) has criticised the decision not to conduct a full study into the sector; PRA Chairman, Brian Madderson called it ‘a prime opportunity’ to target market manipulation.

The Road Haulage Association (RHA) has said it is ‘bitterly disappointed’ at the news, with Chief Executive, Geoff Dunning announcing that the RHA along with FairFuel UK had worked hard to raise the issue with both Westminster and HM Treasury:

‘To hear that the OFT does not consider the disparity between barrel and pump price warrants further investigation will come as a real blow to every user of road fuel in the UK.’

AA President, Edmund King said, “if fuel pricing is fair and competitive, there is no reason not to publish petrol and diesel wholesale prices to prove the point and reassure motorists.’