- WTI (West Texas intermediate) oil prices plunge 50% to $8.75 a barrel, lowest level since December 1973. Brent could follow too, eventually.
- Even before Monday’s crash in oil price, UK’s fuel supply chain has dishonestly held back March’s massive wholesale falls from filling up at the pumps.
- Petrol should be 98p and Diesel 106p per litre, instead it is averaging 10p higher.
Howard Cox, founder of FairFuelUK Campaign, said: “Even with 70% less fuel being sold, the dishonesty from these faceless businesses, using the Coronavirus crisis as a smokescreen to maintain their profits, beggars belief.
“A few hoodwinked MPs have responded to FairFuelUK’s concerns for 37m drivers. They say they believe that the most effective way to keep fuel prices down is through an open and competitive market. In 2013, the Office for Fair Trading investigated competition in the UK fuel sector and concluded that it was operating well.
“That is absolute claptrap. That enquiry was an utter whitewash and everyone knows it had the smell of big business manipulating the result.
“It’s time the Government really looked after the highest taxed drivers in the world and our vital haulage industry, and introduce PumpWatch as a matter of emergency. An independent pricing watchdog is vital to protect our economy and allow essential workers to fill up their vehicles with the fairest and most honest prices at the pumps.”
For the latest Oil, wholesale and pump prices and how motorists are being fleeced by the fuel supply chain, especially more so during the Coronavirus crisis go to:
https://fairdriving.uk/greedy-
