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petrol prices

Oil & Gas

MPS back fuel pricing campaign

More than 30 MPs are backing a campaign for the competition watchdog to fully investigate vehicle fuel pricing amid growing anger around the “rip-off” cost of diesel. FairFuelUK said 32 MPs from across all parties had pledged their support this week to its campaign for the Competition and Markets Authority (CMA) to look at retail price changes in relation to oil cost fluctuations, commodity speculation, wholesale prices and distribution costs “to stop further blatant, opportunistic and unfair profiteering taking place at the pumps”. The support comes as the RAC called on supermarket fuel retailers to make further cuts to the price of diesel, saying a reduction in wholesale costs leaves scope for at least another 3p cut.