Wed Jan 30, 2013, 09:34 AM
dipsydoodle (40,524 posts)
OFT says UK petrol market is working well
Last edited Wed Jan 30, 2013, 01:04 PM - Edit history (1)
A study of the UK petrol and diesel market by the Office of Fair Trading (OFT) has said little action is needed.
"The evidence gathered by the OFT suggests that at a national level, competition is working well in the UK road fuel sector," its report said.
It found the UK has some of Europe's cheapest fuel prices before tax.
It said there was very little evidence that petrol and diesel prices rise quickly when oil prices go up, but are slow to fall when prices drop.
UK petrol market ‘working well’ for people who don’t use petrol.
The Office of Fair Trading has said that the petrol industry is working perfectly well for people who do not use petrol in any way shape or form.
The OFT said that little action was needed, and that the market was actually really quite good if you didn’t partake in it whatsoever.
An OFT spokesman explained, “Having looked at the evidence, we find that competition is working well for non-consumers of petrol, and we see no reason to take action.”
“In fact, people with no reliance on petrol seem pretty happy about how the market is operating. Some might even call them ‘smug’.”
OFT ‘doing fantastic job’ finds OFT
A lengthy yet cursory audit of the Office of Fair Trading has revealed just what an exceptional quango it is, reported the Office of Fair Trading today.
The report was commissioned recently by the OFT itself, to silence criticism of recent reports by the OFT.
As many had predicted the document had very few complaints about the department, although senior managers were found to be ‘working too hard, and with too much integrity’.
Motorists in particular will welcome the news, after some had questioned an investigation into the petrol industry.
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