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Heavy Fuel Oil Import Prices

Volume 489: debated on Wednesday 28 October 1987

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asked Her Majesty's Government:Whether they are aware of charts recording heavy fuel oil import prices (including duty) prepared by Oil Prices Assessments Ltd., London, and quoted in the CBI document

European Industrial Energy Prices September/October 1986, showing the United Kingdom prices between 5 and 10 per cent. higher than those in Belgium, France, Germany, Italy and the Netherlands over a two-year period; whether they accept the accuracy of these charts; and whether there has been any significant change since September 1986.

The Government are aware of the work carried out by Oil Price Assessments Ltd. There have been no major changes in relative prices of fuel oil since September 1986; in fact the UK remains competitive with the other countries and it is French industry which experiences the highest prices, although there are limitations on the value of comparisons, as the CBI report itself pointed out. Duty on heavy fuel oil has not been increased since 1980.