‘UK fuel price hikes need full probe’

The competition watchdog has ruled out a full-scale review of petrol and diesel pricing in the UK after concluding that high prices have been driven by tax rises and rising oil prices.

However, furious campaigners, who had called on the OFT to announce a full investigation into the sector, said they were “bitterly disappointed” by the findings.

“UK consumers will be bitterly disappointed. The nation will feel let down. Quite frankly, I’m shocked…Every motorist and business in Britain instinctively knows that something’s not right,” said FairFuelUK campaign’s spokesperson Quentin Willson.

“They did not address the whistleblower evidence of potential rigging of the oil commodity market. Where is the fairness in all of this?” he added.

British consumers have seen a 38 percent increase in the price of petrol and a 43 percent rise in diesel costs between 2007 and 2012. Nevertheless, campaigner’s attempts on price transparency have so far remained futile.

MOS/MOL/HE

Source Article from http://www.presstv.ir/detail/2013/01/30/286413/price/

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