Fuel market working well, says OFT

Jan 30 2013

Competition is "working well" in the UK road fuel market and rises in pump prices over the past decade are largely due to increases in tax and the cost of crude oil, the Office of Fair Trading (OFT) has reported.

It found "very limited evidence" that pump prices rise quickly when the wholesale price goes up but fall more slowly when it drops.

The OFT said its investigation into the market did identify a lack of pricing information on motorways as a concern and did not rule out taking action in some local markets if there was "persuasive evidence of anti-competitive behaviour".

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