After much talk last year about the proposed fuel price increases and the majority of people battling against the economic climate that we are faced with it was important to know what we were unnecessarily spending our money on.
On top of the tax on fuel there was also speculation that savings within the fuel industry weren’t being passed on to the consumer adding even more fuel to the fire (pardon the pun!) Now it looks like the situation is about to get slightly worse. The Road Haulage Association and other bodies within the transport industry are criticising the Office of Fair Trading as they haven’t launched the investigation to fuel prices.
Road Haulage Association
The chief executive at the Road Haulage Association (RHA) Geoff Dunning has said this, “The RHA, together with FairFuelUK, has worked hard to raise the issue with Westminster in general and HM Treasury in particular. We considered the response from Chief Treasury Secretary Danny Alexander to be particularly encouraging. To hear that the OFT does not consider the disparity between barrel and pump price warrants further investigation will come as a real blow to every user of road fuel in the UK.
“The OFT acknowledges that high pump prices are a result of high crude prices, not competition. On that basis, why, when the barrel price drops, is that drop not reflected at the pump? What is the rationale behind fuel prices at the motorway service areas being so much higher than those charged by high street retailers? These are all important questions which still need answering.
“As far as the Road Haulage Association is concerned, we asked for transparency, but all we got was a whitewash.”
Quentin Willson from FairFuelUK also commented on this saying, “The nation will feel let down. Quite frankly, I am shocked. The OFT investigated in 1998 and now has done so again. Every motorist and business in Britain instinctively knows that ‘something’s not right’. The Germans and Americans are holding inquires so why aren’t we?
Overall it looks like bodies within the transport industry still want questions answered by the OFT. But with a new year and a new start, who knows, things might start to look up for those operating within the industry including commercial vehicle insurance providers and motorist.