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Petrol prices probe 'a distraction'

Petrol prices probe 'a distraction' Image

An investigation into levels of competition between fuel retailers is failing to look at the real problems facing the sector, it is claimed.

The Office of Fair Trading (OFT) has launched the probe to see if there are competition problems that are contributing to the high prices at the pumps.

But Jakes de Kock, marketing director of The Fuelcard Company, believes the investigation is something of a red herring as it "does not cover any aspect of fuel tax".

He added: "Campaigners have worked tirelessly to lobby to reduce fuel duty and perhaps this review is really distracting us from the bigger issue of how the Government should be helping the transport sector through reduced taxation."

Fuel duty and VAT that goes to the Treasury accounts for more than half (58%) of the price paid by motorists at the pumps while retailers themselves receive under 5%.

The OFT investigation will focus on whether or not what is paid at the pumps reflects the price of crude oil.

As reported by Fleet News on June 7, crude oil prices dropped earlier this year but that did not result in lower prices on the forecourts.

published: 18/09/2012 17:00:00

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