THE RMI’s Petrol Retailers’ Association (PRA) has welcomed the move by the European Commission to investigate alleged oil price fixing by the major operators.
The PRA submitted a complaint on oil price fixing to the Office of Fair Trading (OFT) in January 2012.
Brian Madderson, PRA Chairman, commented “The UK’s competition authority rejected industry calls from the PRA to examine oil price and wholesale cost movements.
“Earlier this year the PRA drew attention to the eight pence per litre (ppl) increase in wholesale cost of petrol from end December to late February which could not be explained by new geo-political issues or other economic factors. More recently, our independent petrol retailers have seen wholesale costs move by over 5.2ppl in less than seven days. Such volatility has been a relatively new cannot be explained to confused and irate customers on our forecourts.”
Offices of Shell, BP and Statoil were raided in May as the European Commission investigated the claims.