Thursday, July 19, 2012

In just 72 hours, 20 Thousand supporters of the RAC and road haulier backed FairFuelUK campaign have joined in the call for two major investigations into the price of petrol & diesel as pump rises have started to rise again.


 

The calls have come after a renewed surge in pump rises and continued concern that oil traders may have been unfairly rigging the market as the banks have done with LIBOR.


Quentin Willson, national spokesman for FairFuelUK said, ‘'How can fuel prices be on the increase again? It’s certainly not because of demand. China's growth is slowing and the euro zone and US are flat-lining. There's absolutely no economic reason for crude and wholesale fuel prices to have risen at all. I sense the leaden hand of speculators. Unless the oil industry can clearly explain that this sudden rally in prices isn't because they're fiddling with the numbers, we can only draw the obvious conclusion - oil traders are deliberately massaging prices again. This sabotaging of the UK economy to stop and I urge the government and the EU to investigate these anti-competitive practices as soon as possible. The oil industry needs to tell us the truth and stop hiding behind the worn-smooth and patently untrue argument that they're simply reflecting supply and demand. We just don't believe them any more.'


Peter Carroll, founder of FairFuelUK said, ‘Mercilfully, we persuaded the Government to drop the 3p August fuel duty rise. However, that good work is now at risk for a price surge that seems to be masked in smoke and mirrors! Approaching 20,000 of our members are backing the call for the Office of fair Trading to investigate the whole supply chain and for the Financial Authorities to investigate if the oil traders have been rigging the market. It’s time that the glare of publicity was shone into the dark corners of the supply of our fuel’.


 

Details of FairFuelUK's call for inquiries at http://www.fairfueluk.com/call_for_enquiry.html

 





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[ posted by Gary Lewis, 19.07.12 11:51 ]

Totally absurd, has this country gone mad. Protests are surely due. Lets stop buying for a day

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[ posted by William Baker, 19.07.12 17:01 ]

On the 30th of June i went on holiday to Spain and my local garage was charging 126.9 when i returned on the 14th of July it had gone up to 127.9 yesterday morning it went up to 128.9 and today it has gone up again to 129.9 yet not a lot has changed in the past 3 weeks so why the increase. I think it is now time for the government to take a strong lead on this issue if the present government can be said to take a strong lead on anything and call time on these speculators,incidentally when you take the euro exchange rate into consideration the Spanish are paying around 30p a litre less than we are for petrol and diesel is even cheaper and this is a country which at present has more than its fair share of financial troubles,so come on Mr Cameron pull your finger out.

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[ posted by Alan Gasparutti, 19.07.12 19:59 ]

Oil companies are like banks - fiddle prices & rates to suit themselves, at the expense of customers. Governments all around the world should get together and put a stop to this.

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[ posted by Azzy Mozzer, 19.07.12 21:01 ]

No sooner has the price of oil risen that the forecourts have swiftly slapped the price up. I know a few garages have put as much as 5p on a litre in the space of a week, which smacks of gross profiteering. They need to be looked at by Trading Standards too, but as for the big picture, the speculators are being greedy and there is nothing economical which is causing this "bull rush" in the price of oil.

Its just like 2008 all over again.

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[ posted by Julian Keeble, 22.07.12 11:09 ]

Just come back from Germany where the price of diesel is around 1.25 Euros. We are being ripped off and while most people moan they still do nothing. This government (probably the most unpopular in decades) could make a few friends by taking action now. They should remember that if people buy fuel they will make money.

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[ posted by Michael Davies, 26.07.12 20:04 ]

In todays "Mail Online"they ran a story,saying that at any one time there could be up to 50 tankers waiting to dock in UK waters.They stay at
anchor untill the price of oil rises on the markets then pump it ashore at the higher prices thus putting up the prices on the forecourts.

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[ posted by J King, 31.07.12 17:03 ]

Moan about the government all you like, I do it a lot, not just the current lot either, the last mob were as bad if not worse, they are to blame as are the oil speculators. This is a simple fact, but will state anyway. They will never change this system for as long as they can get away with it, they cant, there is too much in it for them both to have any sort of will to stop it.

The only real way is we need to find an alternative to oil. This is a tall ask I know, but its the only way it could ever be stopped.

Wouldn't it be great if there was a huge power source that endlessly supplied the earth with cost free energy, something we could tap into to generate our power. Some thing so powerful it could fuel the world for free. That would be technology worth investing in, and improving. I mean could you imagine something that powerful it could provide the entire earth with energy, possibly in the form of light and heat. It would take something like a super massive nuclear reactor in space, that does not require maintenance or anything........................ Oh hang on a minute.

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