The Price of Fuel Rose in January, Yet Shows No Sign Of Stopping
Petrol prices are set to jump 4p per litre in the next few days says fuel campaigners, after already rising by 1p per litre according to Experian Catalist.
Fairer fuel campaigners are now saying what’s needed is a review of the wholesale fuel market from OFT, said a spokesman for the Petrol Retailers Association (PRA). A review would help to see whether the price reductions of crude oil are being seen by drivers. From there OFT will announce whether it is worthwhile to conduct a full investigation of fuel prices.
Brian Madderson, chairman of the PRA said that “the OFT need help consumers by conducting a full market study that will lift the veil of secrecy from the wholesale cost movements”. The PRA are fully urging the OFT to investigate the huge rise in wholesale fuel costs in the four weeks since Christmas.
The effects of fuel increase is not only limiting what people are spending on other aspects of their lives, such as food and clothes, but it will start to affect the price of all of these goods due to the necessity of fuel to transport merchandise to retailers. This affects almost every retailer, so the fuel increase means that retailers may have to up their prices to accommodate the fuel increase.
Petrol stations have been forced to put their prices up this week and are expected to rise even higher.
Fairer fuel campaigners are now saying what’s needed is a review of the wholesale fuel market from OFT, said a spokesman for the Petrol Retailers Association (PRA). A review would help to see whether the price reductions of crude oil are being seen by drivers. From there OFT will announce whether it is worthwhile to conduct a full investigation of fuel prices.
Brian Madderson, chairman of the PRA said that “the OFT need help consumers by conducting a full market study that will lift the veil of secrecy from the wholesale cost movements”. The PRA are fully urging the OFT to investigate the huge rise in wholesale fuel costs in the four weeks since Christmas.
The effects of fuel increase is not only limiting what people are spending on other aspects of their lives, such as food and clothes, but it will start to affect the price of all of these goods due to the necessity of fuel to transport merchandise to retailers. This affects almost every retailer, so the fuel increase means that retailers may have to up their prices to accommodate the fuel increase.
Petrol stations have been forced to put their prices up this week and are expected to rise even higher.
