‘Lack of competition not to blame for rising fuel costs’

Rises in pump prices for petrol and diesel over the last 10 years have been caused largely by higher crude oil prices and not a lack in competition, a report from the Office of Fair Trading has claimed.

The news could come as a disappointment to campaigners fighting for a fairer deal on fuel prices, who have questioned the business practices of Scottish Fuels, one of the main suppliers for the isles.

However the report appears to leave the door open for further action should evidence emerge of anti-competitive business practices.

It also points to increases in tax duty imposed against fuel as another reason for the price hikes.

A statement released by the OFT today read: “The evidence gathered by the OFT suggests that at national level competition is working well in the UK road fuel sector, although it has identified an absence of pricing information on motorways as a concern and does not rule out taking action in some local markets if there is persuasive evidence of anti-competitive behaviour.”

For full story, see this week’s paper.

ONE COMMENT

Add Your Comment
  • Harry Dent

    • January 31st, 2013 12:47

    Government quango supports big business, now there’s a shock.

    REPLY

Add Your Comment

Please note, it is the policy of The Shetland Times to publish comments and letters from named individuals only. Both forename and surname are required.

Comments are moderated. Contributors must observe normal standards of decency and tolerance for the opinions of others.

The views expressed are those of contributors and not of The Shetland Times.

The Shetland Times reserves the right to decline or remove any contribution without notice or stating reason.

Comments are limited to 200 words but please email longer articles or letters to editorial@shetlandtimes.co.uk for consideration and include a daytime telephone number and your address. If emailing information in confidence please put "Not for publication" in both the subject line and at the top of the main message.

200 words left

This site uses Akismet to reduce spam. Learn how your comment data is processed.

logo

Get Latest News in Your Inbox

Join the The Shetland Times mailing list to get one daily email update at midday on what's happening in Shetland.