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Oil Prices

Volume 928: debated on Friday 18 March 1977

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asked the Secretary of State for Energy what is the current cost per therm of producing middle distillate gas oil and of providing heavy fuel oil and the current prices being charged for contracted supplies of both products.

A high proportion of the costs of the oil industry are common to its many products and markets. It is not possible to apportion such costs to particular products in a meaningful way. Prices charged for gas oil and heavy fuel oil in medium-sized new or renewed contracts are published quarterly in the department's statistical bulletin Energy Trends, copies of which are available in the Library of the House. The latest available figures will be published in the March issue and are equivalent to 18·7 pence a therm for gas oil and 13·5 pence a therm for heavy fuel oil. Both prices include duty.