UK Motorists are being fleeced on average by approximately £5 each and every time they fill up their vehicles. FairFuelUK estimate that is the amount not being passed on at the pumps to consumers following the biggest and most sustained period of falls in Oil Prices in recent memory.
Lead campaigner for FairFuelUK, TV broadcaster and motoring journalist Quentin Willson said: “Brent crude has fallen US$49 since June and shocked the global economy. So why don't pump prices reflect what is the lowest oil wholesale price for five years? Something is deeply wrong in the road fuel market and we need an investigation into why these historic low prices aren’t being passed on to the consumer. We’ll be writing to Priti Patel, Exchequer Secretary to the Treasury, again to demand an enquiry.”
Howard Cox, founder of the highly successful FairFuelUK Campaign said: “Our 1 million campaign supporters just don't get it. Pump prices should now be at least 8p lower, maybe more! Who is profiteering by not passing these massive drops in oil prices? Priti Patel, Treasury Secretary, wrote to FairFuelUK saying she wants to see strong action in support of our Campaign's call for a full and transparent pump prices enquiry. It's now time for the Treasury to deliver on that shared desire. The average motorist is being fleeced to the tune of about £5 every time they fill up, and even more galling, the Government’s tax take is getting closer to 70% each time the price of oil falls.”
With millions of consumers angered, FairFuelUK is calling on the Government yet again to re-visit the issues of oil price manipulation and forecourt pricing and use the Competition and Markets Authority to set up an “OffPump” type enquiry to find out who is actually profiteering from holding back on dropping fuel prices.
Adapted from press release by Joe Green
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/10122014/uk-motorists-continue-fleeced-pumps-fairfueluk-willson-1970/