OFT say petrol pricing is fine and you should stop thinking that it isn't
The investigators at the Office of Fair Trading have been sniffing petrol – and they’ve decided that there’s nothing more to be done as a result.
The reason for their sniffing was a bit of a mooch around in the murky world of petrol pricing and trying to decide if there should be a full investigation into the possible absence of competitive pricing.
But there’s nothing to see apparently, with ‘competition is working well in the UK road fuel sector,’ according to the OFT report. What’s more, before tax, the UK has some of the cheapest road fuel prices in Europe. Okay? So shut up.
There’s a slight problem with motorway service stations not displaying their (usually more expensive) prices until drivers have left the motorway, but apart from that, everything is great. SO SHUT UP.
As a result, there will be no further major action from the OFT and the RAC Foundation’s Stephen Glaister said…
‘This report will give only limited comfort to the UK's 35 million drivers who continue to pay near record prices at the pumps, but the OFT does identify the true cause of drivers' misery - the chancellor and crude oil prices.’
‘About 60% of the pump price is accounted for by fuel duty and VAT and we would now call on retailers to provide a breakdown on till receipts to show exactly what the proportion the Exchequer is creaming off.’
‘Some will find it hard to believe, but the report does make clear that the fuel market is helping keep prices lower and supermarkets have actually helped competition.’
EVERYTHING IS FINE.