Office of Fair Trading fuel price action pleases RHA 06 September 2012

The Road Haulage Association is applauding the news that the Office of Fair Trading (OFT) has called for information on the UK petrol and diesel pricing sector.

In light of continuing public concern about pump prices, the OFT wants to identify any fair competition issues. It is inviting the industry, motoring groups and consumer bodies to submit information.

The OFT says it will also explore observations that reductions in the price of crude oil are reflected only slowly in falling pump prices, while hikes are immediate.

Other potential concerns include: the apparent dominance of supermarkets and major oil companies, claimed to make it difficult for independent retailers to compete; and geographical pricing variances adversely affecting rural communities.

"Diesel accounts for over a third of a haulier's operating costs," comments RHA chief executive Geoff Dunning.

"Between June 2007 and June 2012, diesel prices have risen by 43% – a rise that will no doubt have a had a very depressing effect on the economy," he adds.

The UK retail road fuels sector is estimated to be worth around £32 billion.

Author
John Challen

Related Companies
Road Haulage Association Ltd

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