PRA welcomes OFT fuel price investigation…
"The Office of Fair Trading’s (OFT) decision to look into petrol and diesel prices is a significant step forward for the Petrol Retailers' Association’s (PRA) campaign for a market study into anti-competitive pricing in the UK fuel market" said Brian Madderson, PRA Chairman.
The OFT has issued a call for information on the UK petrol and diesel sector. In light of continuing public concern about pump prices, the OFT wants to identify whether or not there are competition problems that it can tackle in the sector. It will also look into whether there is a lack of competition between fuel retailers in some rural communities in the UK.
Brian Madderson, PRA Chairman commented “It has been 14 years since the last OFT investigation into the fuel sector and much has changed in the market since then.
“RMI Petrol submitted a detailed report to the OFT earlier this year, asking for a “Market Study” under the terms of the Enterprise Act 2002. The report provided evidence of alleged anti-competitive pricing across the UK based on evidence gathered from their members.
“We highlighted potential flaws in price referencing systems as one of the fuel price mechanisms needing proper investigation. Businesses, motorists and independent retailers all need much greater price transparency and we call on the Government to support the request for the OFT study.
“The time has come to be proactive in the search for further evidence to test claims of anti-competitive pricing in the UK’s fuel market. It is imperative that independent fuel retailers respond to the call and submit evidence of unfair pricing and competition issues.
“The PRA will be on hand to assist members with submitting the necessary evidence and will continue their dialogue with the OFT on the subject.”