Skip to main content

Oil: Prices

Volume 481: debated on Monday 27 October 2008

To ask the Secretary of State for Energy and Climate Change what steps the Government is taking to ensure that falls in the price of oil are passed on to drivers via the pump price. (227362)

[holding answer 16 October 2008]: The Government believe that efficient and competitive markets for wholesale and retail fuel are the most effective means to pass falls in the oil price on to drivers. In order to ensure competitive pricing, the Office of Fair Trading monitors the UK petrol and diesel market. It is empowered to act if the price level appears to be the result of anti-competitive behaviour. The best way of ensuring a competitive market is for consumers to shop around to support trades who reduce prices and punish those who do not by not buying there.