Wed, Dec 28 2022 at 2:14 p.m.
Priti Patel joined nearly 30 colleagues in calling for a pump price watchdog to address rising fuel prices for motorists.
The former Home Secretary signed a letter in support of FairFuelUK’s call for an oversight body, and a commissioner to keep fuel prices low. Dame Andrea Leadsom supports this request as well.
It comes as auto groups like AA or RAC have fought against the disparity in fuel prices at pump and wholesale.
In a letter to Chancellor Jeremy Hunt MP Jonathan Jollis and Andrea Leadsom MPIt was reminiscent of concerns raised by the Competition and Markets Authority which earlier in this year identified an increase in fuel margins by retailers.
They said the CMA is investigating “market-changing wholesale ownership” and described its skyrocketing as “hugely problematic at a time of high inflation, causing pump prices to hit small businesses and low-to-middle-income drivers.”
Supporting the “reasonable notion” of the Pump Pricing Controller and CommissionerThey repeated the calls they made in Parliament on December 1st.
Penny Mordaunt stated that the UK government was looking into the matter at the time and praised FairFuelUK’s efforts.
The letter cites an analysis from FairFuelUK that includes “countless examples of pump prices rising in tandem with the rising cost of oil”. They argue that pumping prices do not fall significantly when oil prices drop.
According to the campaign’s findings, petrol prices dropped by only 3 percent between October 10th and December 8 compared to wholesale prices which fell by 22 per cent.
They said that the price difference between petrol or diesel has risen 400 percent from 5p/litre down to 24p/litre.
Craig McKinlay MP and chair of the Fair Fuel All Party parliamentary group (APPG) said: “Wholesale oil prices are down a lot from historical highs, but the price at the pump is down just by the buttons.
“It has now become more visible to motorists They are being duped by fuel retailers and it is time for Pumpwatch to shine a light on the truth and make such a blatant profiteering.”
Howard Cox, Founder of FairFuelUK He said that there had been a stench from sickening exploitation for years around thousands of front yards, despite low wholesale or oil prices.
“We should see fuel price indexes across the country, between 10-20p per liter for petrol and diesel.”
What’s more, this is surprising and increasingThe anti-motor Tory government appears to be backing off, dare i say it, almost encouraging the fuel supply chain to continue extorting motorists at the pumps. The extra VAT billions from irrigation pump prices go into the Treasury. PumpWatch is a critical way, to continually stop the fuel supply chain for motorists as they wish.”
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