Sunday, September 9, 2012

STATEMENT FROM A WHISTLE-BLOWER GIVEN TO ROBERT HALFON MP FOR FAIRFUELUK


Key Points: 

  • Robert Halfon MP who received the Whistleblowers statementThis statement was given to us by a whistle-blower. 
  • He approached Robert Halfon MP (Photo) and his team voluntarily. 
  • He is a fulltime oil trader, who trades the UK oil futures commodity market on a daily basis.
  • He has asked that his identity be kept secret, to protect his job and his family. 


Statement from an Oil-Trader:  

  • "I trade the oil market on a daily basis, and every day the price is manipulated - not just the daily benchmark price but the calendar spreads that make up a large part of the daily volume. All through July, for example, there has been a massive buying-pressure on oil futures for August and September 2012. Both were trading at around a $0.5c to $1 dollar premium. This gives a false impression of the market and inflates the price of the nearby oil price, making prices higher on retail markets so pushing up the price of petrol at the pumps.”
  • "The FSA and the OFT should be asking: Why is the London market distorted, with prices kept artificially high? Who is pushing through these massive trades, to force up oil prices? Who is benefiting from this market manipulation? There is no fundamental need for the market to have a $1 dollar premium, for the price of September delivery over oil for October delivery. It seems to be a case of we can can do it so we will do it, and to hell with the damage it does to the country on the way. There is no world oil crisis. There is ample oil in the system to satisfy demand at the moment. Profiteering seems to be the only objective."
  • "More specifically, the spreads are manipulated during the day and especially at certain times of the day when official prices are set. This is how some contracts are priced and passed on to the consumer. This movement is not the way a free market should trade, and moves in a way that bears no relation to economic fundamentals.”
  • "One part of the problem is a lack of market transparency. In the oil futures market, huge volumes are offered and then withdrawn without trading - and unlike stocks and shares where large holdings have to be declared, in the oil market nobody knows where the money is coming from and who is ultimately profiting as a result. For example, large oil futures volumes are often placed on a bid, and then instantly withdrawn and a reverse offer is placed. There is no reason for this behaviour other than to distort market prices.”
  • "Prices are particularly manipulated at the close of business, when "markers" are set on an average of trades in the last three minutes of the trading session. Every day, around these times, I see that the structure 04 September 2012 page 9 of the market is being moved to bring prices in line with the trading books of whoever is manipulating the market with huge volumes of trades. This is in order to fix the price and make sure a profit is shown on their books.”
  • "I stand ready to work with the F.S.A., and the Office of Fair Trading, to help uncover this market manipulation in more detail." 04 September

Email your local MP to ask them to attend the debate on September 13th in the House of Commons about getting a full scale Office of Fair Trading inquiry into UK fuel pricing. CLICK HERE



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ADD YOUR OWN COMMENTS BELOW THIS POST. THEY ARE VERY WELCOME


[ posted by G tourtois, 10.09.12 09:59 ]

we know very well we are being ripped off, not only because of the exposed state of affair above mentioned but also because banks are dishonest, governments are dishonest and supermarket have monopolies. What is this farce about an enquiry will be conducted by the office of fair trade, we know this fair trade is controlled by the government and it would in any case take far too long to be efficient. We know there is no competition between large companies as the system allows people to own shares in all of them. In otherwords the owners of say Asda (Wallmart) are the same people who own Morison or Tesco, so why should they compete? Same for petrol companies who have budget large enough to engulf USA state budgets and more.
I wish governments stop talking down to their electors assuming they are facing millions of idiots. We do know what they are up to! France had a revolution in 1789 for this reason, it could happen again , only this time it would be world wide. Stop squeezing, there is no more juice in the lemon !

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[ posted by L Revell, 10.09.12 10:18 ]

This is another example of the rich get richer and the poor get poorer. The Toffs in the government don't care they are all multi millionaires that hids all their money off shore. Look at the chancellors parents as an exapmple. One rule for one and all that. Fuel prices are now becoming a major concern as soon people wont be able to afford to get to work as it will be too much out of their income. My wife has just stoped as we were paying 20% of her wages on fule alone.
I agree it is about time we start standing up for ourselves and stop all the banks, governments and traders from making a mockery of the world ecconomy. If something does not give soon and the politicians dont start to see the real picture in the real world then you never know what might happen. Look at the middle east and all the uprising their, we will only be pushed so far!!!

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[ posted by Leighton, 10.09.12 10:26 ]

There IS plenty of oil and gas remaining in the world, but it is becoming much more difficult to exploit and therefore more expensive to produce --
This expense is the only one that should reflect price rises not being Ripped-off by speculators.
Having worked on Oil & Gas for 28 years - I have seen waste of resources - but what is gone is gone -- we can't get it back.
Nowadays it is not the case, there is very little waste.

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[ posted by one foot from the grave, 10.09.12 10:27 ]

This is the same mentality, if not the same people, who destroyed the banking system.

The UK government must start governing and ensure that this unaccounted trading is brought to heel. A failure to stop this will merely add to the incompetence list of this pathetically failing government.

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[ posted by Chris Groom, 10.09.12 10:38 ]

Well I think this comes as no real supprise. The electorate in this country seem to be seen as a cash cow to be milked at will by goverments, councils and any other organisations with the means to do so.
I am in the unfourtunate situation of having Caroline Lucas (Green Party)as my local MP, and despite my emails to her pointing out the pain fuel prices are causeing the whole of the country, her answer only confirms what I expected from her, namley that she fully supports the highest possible fuel prices, all this from our MP who acctuallylives in Belgium and claims the maximum possible allowances, even short distance bus fares! Until MP,s feel our pain the shamefull practice of manipulating fuel prices will continue, as can be seen by the banking fiasco.
I run a very small familly plant company and the fuel prices are hitting us really badly, I dont have the option of getting on the bus with a digger or towing it with a push bike so have no option but to keep swallowing the fuel price increases, this is having a huge affect on familly finances and means going with out many things just to keep our head above water. All this so some imoral individuals can trouser huge sums of money at the terrible cost to the British economy, hard working famillys and those least able to afford it. David Cameron, wake up, do the right thing and order an inquirey into these shocking practises now before its to late!

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[ posted by vincent gilbert, 10.09.12 10:51 ]

It is blatantly obvious who is ripping us of firstly the government then the oil companies then the new up and coming mostly franchised petrol stations who are now mainly foreign owned and charging us what they like gone are the days when they said they only make 2p a litre its more like 15p now , I recently had to pay £1.58 a litre in a bp station just outside oxford and when i commented to the staff they said its because there franchised,If i knew how to do it i would lead a massive fuel protest and bring this corrupt government down to earth ,when are they going to cop themselves on and treat the people who voted for them with a little respect ,we cant all be rich and live like they do without any pressure to pay bills and worry about where the next penny is going to come from there;s certainly no chance of any spare cash in my pocket .

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[ posted by Philip Robinson, 10.09.12 10:52 ]

I really do think its time for direct action.

The government and its agencies ARE aware of what is going on. However they will let it continue as long as the political temperature does not get too high. Direct action does work - it puts the fear of god in them - "they don't like it up 'em"

This has been going on for more than 10 years. We have had the debates, the hot air, the talk. We need to bring the country to a stand still and make them listen. In France they do not put up with it - and neither should we.

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[ posted by Ken Roper, 10.09.12 10:55 ]

I live in a large village of 17000 people just a few miles north of Oxford. The only supplier of fuel in the village is a Sainsbury's store. Ten miles away is another Sainsbury's store that offers both petrol and diesel at two pence a litre cheaper than my local store, simply because the area boasts a large Tesco's store which offers them competition. Barely four miles away from both of them is an ASDA store which is normally two pence a litre cheaper than either of them.
I ravel fairly extensively in Oxfordshire, Wiltshire Worcstershire, and Gloucestershire and passed a petrol station in a small village near Leamington Spa on Saturday selling diesel for £1.47.9 a litre, those folk there having little choice other than to pay it.
I have never understood why we pay fuel duty on fuel, on top of which is lumped VAT, effectively putting a tax on a tax, and can never understand why someone with some clout hasn't checked the legallity of this, other than to accept that succesive goverments of both colours see the motorist as little more than a cash cow. Keep up the good fight.

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[ posted by Jim, 10.09.12 10:57 ]

... and blatant profiteering at every step of the way through to the pump. What do you make of the Esso grages on opposite sides of the dual carriageway on the way to Southend where Eastbound diesel is £1.44 pl (ok £1.43.9 but who's fooled by that?) and on the Westbound, £1.47?

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[ posted by Alan T Gray, 10.09.12 11:00 ]

Whilst this price-fixing practice is clearly unacceptable, what concerns me is the leverage effect of taxation on increasing fuel prices in the UK. I am delighted that there is now to be an independent enquiry into oil pricing but not surprised that the terms of reference for the investigation team will require them to disregard the tax loading which governments apply to fuel at the pumps

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[ posted by Ken Pearson, 10.09.12 11:00 ]

Ian R Crane has been saying this for quite some time. He worked for many years in the Oil Industry and has been blowing the whistle on this, and many other matters of real concern, for years. Please check out his web site and support his efforts.

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[ posted by Philip Robinson, 10.09.12 11:01 ]

I really do think its time for direct action.

The government and its agencies ARE aware of what is going on. However they will let it continue as long as the political temperature does not get too high. Direct action does work - it puts the fear of god in them - "they don't like it up 'em"

This has been going on for more than 10 years. We have had the debates, the hot air, the talk. We need to bring the country to a stand still and make them listen. In France they do not put up with it - and neither should we.

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[ posted by Martin Smith, 10.09.12 11:07 ]

For Family reasons I travel from here in Penzance to Bradford in west yorkshire on a regular basis The price of Diesel can vary considerably between here in Penzance to up North A few weeks ago I bought diesel at Asda in Harrogate at£1.33.9 against Sainsbury's a short mile distant at £1.40 per litre How can this be so They will get it at the same refinery. I have found that two Tesco supermarkets at either end of Plymouth both different prices.I asked the reason for this And was told it was down to Market area We all kicked off when fuel went over the £1.00 mark Well it is creeping up to the £2.00 Are we going to just accept it Because I for feel we should do something Our MP just gives me twaddle Explaining to me on a regular e-mail that he has got a 5% reduction for the Scillies Wonderfull But what about us poor people on the mainland Who need to travel for work,family reasons etc The goverment live in a different world to us, perhaps they need to be reminded that they are there on our behalf I am sure many people like me feel the same way about all of this It just feels to me as we have got very complacement We just seem to accept price rises,come what may and motor on regardless

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[ posted by David Coxson, 10.09.12 11:11 ]

Well,Well,Well. Here we have the evidence that we all knew existed, but could not get, because successive GOVERNMENTS
had not, or did not want to, find out what was going on with oil prices, for their own reasons.
When, if, any calculations are carried out with regards to what these practises have cost the country and its people, perhaps the GOVERNMENT will then decide to get the oil companies to backdate any adjustment at the pumps in this country, to take account of the profit made through their, lets be polite, miscalculations on the reasonable price that should have been charged to us.
Do we think anything will happen? Yes. The robber baron's of the oil companies will drop the price of diesel/petrol and associated products by a few pence at first, and then put it back up again.
This time, the Government has to do something about it. The evidence is there for all to see.
The person who brought this to our notice, must be protected financially and and in his private life. Thanks to at least one person who has a feeling for his fellow men. Unusual.

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[ posted by graeme, 10.09.12 11:13 ]

Please think of the poor people who have already lost job, homes and businesses as a result of these clowns playing games in our markets and yet again we stand by and watch. But please dont kid yourself the higher the tax taken by the government. I remember mr camaron saying we r all in this together he was right tho he was really talking. About himself and all his pals I meet come on we have at least ten members of cabinet with more than 1million pounds when will people wake up these people couldnt and dont give a shit about you and me they want you to work your fingers till the bleed so yo can pay them and keep them in the life they are in. And yet again the good old british public will be there to vote them straight back in when will we ever learn.

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[ posted by Mal Dunn, 10.09.12 11:16 ]

It is blatantly obvious that the Government and the fuel companies are ripping us off hand over fist. But a point that is being missed here is this. Ask yourself, who voted these thieves into power? Then ask yourself why? I am a working man, single, have my own house. Now, I still have to pay my electricity, gas and petrol for my car, which incidentally is 21 years old and does about 50mpg. However the price of petrol is the most crippling, when I bought my car in 2008 the price of petrol was 92p per litre, the price of petrol is now getting on for £1.40 per litre. The government are always on about saving fuel by doing this and that, bringing new schemes to get people to get more economical cars etc. You cannot get a more economical car if you haven't got the money (because the money you have is being used to keep your old banger on the road). No good getting buses either as the time I start work they don't run, and with the cost of fuel it is getting that they are becoming almost priced out of the market. How can you have a sustained public transport service if you are pricing them out of the market with the huge fuel bills they have to pay?
Also the price of fuel has an effect on everything as most of the goods we buy in the shops are delivered by trucks. Every time a fuel price rise happens the transport companies have to either swallow it (which means less profit, and therefore no wage rises) or pass it on to the end of the line, the consumer.
If the Government was run by proper working class people instead of rich ego trippers, then we would all be better off.

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[ posted by Reality check, 10.09.12 11:18 ]

We really need to ask why this futures market exists. Obviously it is a mechanism to fix prices and make the rich richer but why don't the extractors of oil just sell it to the processors who then sell it to the petrol stations who then sell it to the consumer?

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[ posted by Frank Buckley, 10.09.12 11:19 ]

We are like pawn's in a game to the oil market,s.The OFT and FSA need to get involved immediately and David Cameron should make this a priority.

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[ posted by graeme, 10.09.12 11:25 ]

Please think of the poor people who have already lost job, homes and businesses as a result of these clowns playing games in our markets and yet again we stand by and watch. But please dont kid yourself the higher the tax taken by the government. I remember mr camaron saying we r all in this together he was right tho he was really talking. About himself and all his pals I meet come on we have at least ten members of cabinet with more than 1million pounds when will people wake up these people couldnt and dont give a shit about you and me they want you to work your fingers till the bleed so yo can pay them and keep them in the life they are in. And yet again the good old british public will be there to vote them straight back in when will we ever learn.

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[ posted by Rodger Buckley, 10.09.12 11:28 ]

I'd also like to see the .9p disappear from forecourt pricing - I could never buy a litre of fuel and be charged exactly 145.9p, so my view is that the petrol retailers are taking at least an extra 0.1p profit from every customer on every occasion they use a fuel pump as they can't ever charge me anything other than to the nearest penny (and I bet they round up instead of down). This must add up to Millions of pounds over a period of time. Nobody is fooled by this silly marking scheme, so at least make them reflect the prices honestly.

As for the prices themselves - we all know we are being screwed, those who screw us know we are being screwed, the Government KNOWS we are being screwed but doesn't want to do anything about it for fear of upsetting their RICH friends who are screwing us with the Governments blessing. It's time we stopped bleating on forums and someone actually did something to make a difference - together we are strong, so let's beat the drum and stop the rot!

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[ posted by Paul Evans, 10.09.12 11:30 ]

Another thing that needs questioning is Why are petrol stations allowed to advertise a price per litre which is unpayable i.e. xxx.9p / litre, how do you pay .9p? The other thing I would like to ask is why are we not pursuing the alternative fuel debate. I have read many articles and watched videos about people who have designed engines which run on water or magnetic energy and also on compressed air. When these people tried to patent their designs they were refused and mysteriously were pressured by governmnet officials to keep quiet and not continue with their application. Some of them have even been killed in strange circumstances. The technology is out there to run our vehicles efficiently on alternative power systems but the oil companies are the ones holding us back because they stand to lose everything. These are the questions we should be asking, oil will run out one day.

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[ posted by chris, 10.09.12 11:44 ]

The reason why the muppets are getting away with constant fuel hikes etc... is because the snobbery and stuck upness of the British public is so rife, and riddled into it's culture that to complain is seen as an embarrassment so they just put up and shut up. Unfortunately, those who do complain are generally frowned upon and rarely heard so the rip off just continues and goes on and on and on and on.

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[ posted by Howard Millichap, 10.09.12 11:48 ]

Ever since "Futures" came into existence I've thought that it is nothing but plain gambling. So far it has just been going on in the markets and not, it seemed, affected anything in the real world. Now, to hear that it's affecting the prices we pay at the pumps just reinforces my opinion that it should be banned world wide. Ban it and ban it now.

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[ posted by Kierkaiser, 10.09.12 11:54 ]

We all know what is happening ... the mechanisms that traders of oil are using just yet another method of highly intelligent finance folks of effectively stealing from the average punter. Fact is, once your salary is £60k , fuel pricing is no longer an issue as you can more than afford it and if you are not City based, you'll probably be getting a fuel allowance with your job (with the tax cleverly minimised by your accountant).

In times of austerity, this sort of manipulation (which has probably always being around for 20 years ) is criminal. Roll on Thursday's debate but will it make a difference. UK haulage is decimated with Eastern European truckers, who can do 10 days on their cheaply filled tanks. I'm sure Stobart/Tesco et al do not pay what the average trucker has to, hence their survival.

It's time the UK Government started looking after it's own, rather than killing jobs and slowing industry with hidden taxes on the poor. As many have said above, it's time for action here!! Fuel is the lifeblood of the real economy. We need parity with the rest of Europe, indeed a better deal would lift the economy and help small businesses and individuals be better contributors to the financial well being of the country as a whole!

Act now everyone!

Kierkaiser

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[ posted by Kierkaiser, 10.09.12 11:58 ]

We all know what is happening ... the mechanisms that traders of oil are using just yet another method of highly intelligent finance folks of effectively stealing from the average punter. Fact is, once your salary is £60k , fuel pricing is no longer an issue as you can more than afford it and if you are not City based, you'll probably be getting a fuel allowance with your job (with the tax cleverly minimised by your accountant).

In times of austerity, this sort of manipulation (which has probably always being around for 20 years ) is criminal. Roll on Thursday's debate but will it make a difference. UK haulage is decimated with Eastern European truckers, who can do 10 days on their cheaply filled tanks. I'm sure Stobart/Tesco et al do not pay what the average trucker has to, hence their survival.

It's time the UK Government started looking after it's own, rather than killing jobs and slowing industry with hidden taxes on the poor. As many have said above, it's time for action here!! Fuel is the lifeblood of the real economy. We need parity with the rest of Europe, indeed a better deal would lift the economy and help small businesses and individuals be better contributors to the financial well being of the country as a whole!

Act now everyone!

Kierkaiser

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[ posted by tom, 10.09.12 11:59 ]

This is a failure of Parliament, essential commodities such as fuel should not be subject to such manipulation.

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[ posted by Mick Chapman, 10.09.12 12:01 ]

I bet our MP Mark Simmons will be conspicuous in his silence as he has to protect his new position. Last three time I have written to him about this, all his letters have five paragraphs telling me how bad the previous government was, I think in all he mentioned Fuel Prices once.

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[ posted by john ashworth, 10.09.12 12:12 ]

It amazes me when I see drivers using petrol stations with higher prices within a half a mile of a cheaper garage!Are you crazy this sort of culture of "Oh it's only a few pence more" attitude helps fuel higher prices.And don't get me started on the government they seem to think it's their job to make their people,especially motorists,pay pay pay.We'll I've news for Mr Osbourne & his cronies, theres nothing left in some peoples wallets/purses & you should be looking after us a bit better than you are & the citizens of this beloved country are getting frustrated & social unrest will follow if you're not careful.

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[ posted by Trevor Mytton, 10.09.12 12:55 ]

The business of gambling and banks has been around for centuries. If the truth be known the Rothschild family gambled on the outcome of the battle of Waterloo putting some money on both sides and then sending a messenger to the battlefield 24 hours before the news broke that the British had won. With this information they changed their bets at the last minute and made millions of pounds profit on their gambling. The same can be said of all the wars since the American Revolution have been manipulated for the side of the bankers and the same thing is going on within the oil and sales of arms.

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[ posted by david, 10.09.12 13:11 ]

why would the government be concerned, the higher the cost to us the more tax to them, whichever party is in power, we are the taxpayers so we are the ones that will be squeezed, the big boys are unconcerned by the cost of fuel or anything else for that matter

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[ posted by Mark Kendall, 10.09.12 13:21 ]

Another case of doing everthing for money...Our politicains, Bankers, Supermarkets, and big business in gerneral....are all doing everything for the bottom line. Money money money and all this under the cover of 'good business'. If the ordinary man/woman was to work like this in his/her general life affairs, it would be classed as a criminal offence.
Unless it is in the interest of the consumer/country, this type of dealing/transactions and general attitudes of business should be a criminal offence. Things need to be changed.

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[ posted by Avril Miskelly, 10.09.12 13:29 ]

My son has 3 children and last year his family struggled to heat their home. He drove 35 miles every day to work. Some days he had to ask us to help pay for fuel in order to get to work. We also helped to heat his home as they couldn't afford the extortionate price of home heating oil. So while these oil magnets rake in our hard earned money and sit back in the height of luxury,do they ever consider the ordinary person who has put them there. Or are they totally out of touch with
what the rest of society have to go through in order to survive.

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[ posted by Hazel Lacey, 10.09.12 13:44 ]

In the village where we live there is very poor public transport to the nearest town, so most people own motorised transport. Also there is no gas supply to the village so we have to use electricty, "calor" gas or oil for cooking, heating etc. We all know that prices are determined by oil moguls and the Government, and our feelings and problems are being ignored in favour of massive profits elsewhere. Don't forget that when Diesel prices rise so do food prices and the price of all commodities which have to be delivered by road.

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[ posted by Sue, 10.09.12 13:58 ]

I too am heartily sick of the 'little' man having the life blood squeezed out of him. My previous job was a round trip of 45 miles every day - costing in excess of £2,600 per year. I have to buy a car, tax it, maintain it, insure it - and Bradford West Yorkshire is getting well and truly screwed by insurance companies (I have no claims, a 2004 car and was quoted between £830 and £2,757.92 for annual car insurance) because of bogus 'whiplash' claims, so people like me have to pay higher insurance premiums to cover the payouts.
When will the Government realise that the higher the cost of fuel the higher every single thing costs as most goods - including food - are freighted to wherever they are sold. Obviously this means people have a lot less to spend on anything other than just existing.
Why should the few be allowed - nay encouraged - to beat the people into submission - surely this is no better than slavery - the rich living their lavish lifestyles at the expense of the poor!!
For God's sake Cameron, etc SIT UP AND TAKE NOTICE!!!

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[ posted by paul ruggles, 10.09.12 14:09 ]

We are all painfully aware of the tax on a tax on a tax on another tax, what we are not aware of is where these ( and I beleive they are actually illegal taxes) go to. It can be argued until the cows come home but the fact remains that all past/present governments have continued to charge colossal amounts to keep our end user goods high priced compared to other countries. In doing so the fuel charge is a gun being held to all of our heads, it's a nasty undercover tax used solely to keep us all in line as all our end user goods are delivered by road and rail so for the user it is a tax stopped at source and again during the preparation period then once more on the final sale price. No wonder the UK has not joined the euro, I feel it is because this little island has become over taxed therefore so expensive it CANNOT be competetive in world markets.
I for one was born here some 66 years ago and have travelled extensively during my working life and have found that on my return there has been a price increase somewhere in the UK's so called economy owing to action by Banks, Union Actions or a new tax scheme inserted. When oh when will the government actually be told by the people that elected them that this is not the way to do things and BE TOLD AND MADE TO LISTEN this or that is what we want and to no longer taxed out of existence. I could end with my ideas being blurted out and I guess they will include your want/needs being attached to this list.

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[ posted by bridgett, 10.09.12 14:25 ]

This is another case of the spivs in the square mile of London getting wealthier by the day while the rest of the hard working people of this country being being ripped off, it is time something was done to sort out this obscene profiteering by the few, but I do not hold out much hope with this ineffectual government whose only mantra is greed greed greed and me me me

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[ posted by Paul Dyde, 10.09.12 14:26 ]

I was always told diesel is cheaper to refine than petrol, we were ALL told be more environmentally responsible and buy diesel cars even though they are more expensive to purchase. So as the sales of diesel vehicles have increased over the years, well well well... So did the price at the pumps!! coincidental I think not..! WHO is really to blame here? The speculative profiteers for driving prices up? A government department seeing an opportunity to increase revenue by strongly encouraging the oil companies to decrease productivity thus driving prices up, or allowing the speculators to continue with making profits on resources?

Personally, I think there is more than one hand in this and we will never have the truth, YES there is price fixing going on we ALL know that, we are not stupid. Who will be made the sacrificial scapegoat in this debacle, the speculator will of course, no government department will ever admit they are involved in price fixing. All we can hope is things change quickly for the sake of our economy.

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[ posted by Martin Lewis, 10.09.12 15:33 ]

Does Anyone really believe that anything at all substantial will become of this furor over fuel prices? I think not! Just a pile of hot air meaningless words, as per usual! What if anything has been done about the HUGE RIP OFF by the BANKS? ABSOLUTELY NOTHING!. THE TAX PAYER YET AGAIN HAS BEEN TOLD "BUT WE MUST BAIL THEM OUT ! SHOOT THE BLOODY LOT OF THE THIEVING B******S, WHILE WE AR AT IT DO THE OIL BARONS/ SPECULATORS AS WELL, HUMAN GREED HAS A LOT TO ANSWER FOR! BUT THE REAL CULPRITS ARE THE PEOPLE WITH THE POWER AND KNOW HOW WHO LET THIS GO ON GENERATION AFTER GENERATION, IT DOESN'T TAKE A GENIOUS TO SEE THAT THIS WILL ALL COME TO A HEAD, MAYBE SOONER THAN LATER? BUT THERE YOU ARE IT'S TYPICAL BRITISH 'STIFF UPPER LIP OLD CHAP SHOULDERS BACK CHEST OUT SHOW THEM WE CAN TAKE IT' THAT'S WHAT THESE THIEVING DISHONEST MONEY GRABBING B******S KNOW UNTIL YOU HAVE THE BALLS TO GET UP AND DO SOMETHING ABOUT IT ? PUT UP SHUT UP AND TAKE A KICKING! RANT OVER. HAVE A NICE DAY! HOW MUCH TAX IS IT WE PAY ON FUEL AGAIN!!!!!!!!!!!!

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[ posted by Jackie Roberts, 10.09.12 15:51 ]

I live in a town in Devon, right on Lyme Bay. You can tell when the oil price is low as the tankers anchor up and sit in the Bay until the price goes up. One day last year, we counted 17 at anchor, all waiting for a better oil price.

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[ posted by Derek Foxcroft, 10.09.12 15:51 ]

If these comments are real and the source is genuine we need to see real action taken against the people doing it and their bosses and the company owners. My guess is it is not just UK led scumbuggary it is International. I cannot help but think that like "Bankers" these scum bags will get away with their crimes against us because of the people involved in positions of power.

There has to be real payback for us all on this, the crimes are real and criminal when the intent is deliberate, the OFT will not be enough to make any dent in the billions already overpaid by the business and public consumer markets, yet again we get ripped off in our own country by our own people, where is the justice in that? Make me eat my words OFT PLEASE!

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[ posted by Glenn Phillips, 10.09.12 16:28 ]

At the end of all this, is fuel prices gonna come down? and i dont mean 2p either, should we expect to see fuel under £1 a litre

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[ posted by Mike Christy, 10.09.12 16:34 ]

On a recent trip to Brittany we noticed that Diesel was £1.50 a gallon cheaper than in the UK. Since then, I understand that the price per litre has been reduced by the French government by 5p,this was done to help the economy! Do our thick politicians not realise that this country is in a worse financial state than France? The price of motor fuel in France includes excise duty and they still recognised the need to reduce the price at the pumps.

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[ posted by Barbara Harvey, 10.09.12 17:07 ]

The politicians are pay no attention to their constituents complaints. I have written on a number of occasions to my MP about fuel prices. I have asked the question - how does the government expect pensioners to pay for petrol at the exhorbitant price it is and for many pensioners and non-pensioners, particularly if they live in a rural area, have to use a car as there isn't a bus route (another thing the Government cut).

The answer I get from my MP is a load of hot air rambling on about facts and statistics and never answering the question or getting close to answering it. Pensions are told by the government that all they need to live on is £134 per week, I'd love to see any MP try and pay for all their household bills, food, heating, lighting and still be able to have money for petrol. I had a little savings but most of that has now gone trying to keep my independence having my car on the road.

If all the haulage companys started a rolling roadblock it would bring the road network to a standstill, maybe then the Government would see the British people are serious, we have had enough. I know it wouldn't help the economy in the short term, but it might just make those in their Ivory Tower in Westminster sit up and take notice, instead of having their heads up their a......es

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[ posted by michael mcardle, 10.09.12 17:22 ]

isnt time these incompetant mps started to earn their exorbitant salaries. they are letting ebergy companies and oil companies get away with fleecing the ordinary working man. its absolutely disgraceful. if they are failing in their job which they so obviously are its time they were removed from office. we as a country are allowing these clowns to ride roughshod over the very people who count. the electorate. its time we got together and showed them how we feel.

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[ posted by Robert Moxon, 10.09.12 18:28 ]

I buy my petrol from a SHELL garage in doncaster,since the fuel duty was suspended in august the fuel has gone UP at least three times to date.Do these people think the public dont notice when they add the odd 1p here and there.As for the government,what do they care,being driven around in limosines at NO cost to themselves.Also when i forwarded a message to my M.P. Mr.Dennis McShane recently from FAIR FUEL his reply to me was as much as saying DEAL WITH IT COS I DONT CARE.

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[ posted by Dennis Hannar, 10.09.12 18:40 ]

This new revelation regarding rip off britain comes as no surprise. It just shows the utter contempt that the oil moguls have for the avarage man in the street. Of course polititions are in it up to there money grabbing necks. After all, many look to the banks and oil industry for cushy numbers if they lose there seat in parliament. You need only go back to the scandal of the parliament expenses farce to understand that nothing will be done. A lot of noise and hot air, then quietly let the matter run out of steam. Look how they treated the expenses scandal, just the same thing. One or two scape goats then give out golden handshakes to the rest to quietly depart. Not one of the parties give a stuff for the people who suffer under their decisions. I think they must open their eyes and see the growing discontent in this country, and act before it is too late. I think a reference to Nero's fiddle and burning Rome is quite apt.

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[ posted by paul judges, 10.09.12 19:23 ]

I have read all the post here so far and they all say mainly the same thing that the Government and two faced say one thing to get what they want and then stab you in the back strait after words . Well i say that every body go on strike and bring the country to a stand still what's David Cameron gonna do get the army to do every body's job i think not.
They need to be maid to pay attention and listen to what the people are saying instead of just lining there own pockets .

here in Kent they have had to open 3 more food banks for those who can not feed there own family's , what is this country coming to when family's can not afford to feed there own ..... COME ON CAMERON WAKE UP AND SEE THE LIGHT .......

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[ posted by luke perring, 10.09.12 19:50 ]

revolution?

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[ posted by John O'Neill, 10.09.12 19:57 ]

Typical of Britain we get ripped off by the rich at every twist and turn.

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[ posted by Conrad H Cook, 10.09.12 19:58 ]

This revelation shows that these money grabbing so called british people will stop at nothing to enlarge there ever growing bank ballance. they dont think of the knock on affect this has on the way we live. There salary wont be affected, there food bills, there transport,there way of life will carry on just the same. Its about time they sat back and thought about how well they are living, and then give a thought about the rest of the " U K".

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[ posted by Scott, 10.09.12 20:10 ]

Appriciate all the efforts this platform is doing, but come on guys, like the vast majority of people did'nt know how futures are a manipulation of the markets? The OFT are a goverment funded organisation, this in turn means they are paid from tax funds, Is it in their interest to reduce the price of fuel ? It's like their commision, the higher the fuel price the more tax goes in their pot. 60% of very little is not much. 60% of a lot means a second home in a sunny climate..... Only one organisation has the means to significantly reduce the price of fuel at the pumps. These are the numpties who could'nt hack it in the private sector, Collectively called The Goverment.

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[ posted by P Roberts, 10.09.12 20:30 ]

I'm in France on holiday- I have bought diesel at 1.34 euros/litre during the past 10 days touring.

At home we pay £ 1.4 ie 1.68 euros/litre which means we are paying 25% more for the same thing.

WHY ?

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[ posted by David G, 10.09.12 20:44 ]

I suppose we all new that something was amiss because no one has ever been able to explain the reasons for high pump prices in the UK. Tax has always been the exuse and clearly that is not the whole story. Perhaps now we will get the answers but I cannot help being cynical.

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[ posted by EL, 10.09.12 21:12 ]

The oil trader has been very careful to not point any fingers and name guilty parties. Oil is the biggest business in the world - the top 5 companies by turnover are all oil companies. Oil companies and oil producers stand to profit from high oil prices, so they work with investment banks to manipulate prices. Retired oil market regulator Chris Cook has spoken about this, and even explicitly named BP and Goldman Sachs in past dodgy dealings. He has also spoken about an unnamed large American bank working with the Saudis more recently to push oil prices up to profitable levels. The manipulation the trader is talking about is largely to do with pushing and pulling oil prices to certain levels at the open and close of the oil market trading window to satisfy big player's oil futures positions, which is slightly different to artificially inflated oil prices, but is still clearly manipulation (known typically as 'quote stuffing' or 'naked' long/short positions). As he hints at, it would be fairly simple to prevent such manipulation, but the Commodity Futures Modernization Act of 2000 exempted 'over-the-counter' oil trades from such regulation, and London's regulation is notoriously weak and rarely enforced.

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[ posted by Martynbuzz, 10.09.12 21:22 ]

I think we all know that we are being ripped off and we, the tax paying public are also paying 60% fuel duty to a government that really doesn't care about us, the hard working tax payer. As long as we pay, they will keep on taking. There is so much wrong going on in this government. It's criminal.

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[ posted by Adrian Lloyd, 10.09.12 22:23 ]

Its a great pity that I don't have the knowledge or time to organise the biggest fuel blockade this country has ever seen. Make no mistake,if everyone took part,we could bring the government of this country to its knees and force them to listen. People power is unstoppable. I hope it will happen and I will support it to the hilt.

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[ posted by Alan Hill, 10.09.12 23:08 ]

So the sagas continue of apparent corruption in the commodities trading system, just like LIBOR? Don't say the free markets are also corrupt? With the ever increasing energy prices going on are we also being ripped off for gas and electricity too?

How many will die this winter? Why are we buying gas from the East when USA gas is half the price? It seems that the eastern, democratic communist countries supplying the EU are laughing all the way to the bank. The sooner the UK stops taxing the North Sea oil and gas exploration the better for the UK!

We motorists must start planning some civil actions of protest over fuel costs!

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[ posted by Martyn, 10.09.12 23:33 ]

Has anyone been to a sainsburys and tried to stop the pump on a round figure I can't always goes over by a penny if every pump throughout the uk does this how much money are they making a day perhaps it's just Helston in Cornwall and a dodgy pump calibrator!

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[ posted by Martin Dines, 11.09.12 07:29 ]

I wrote to my MP Andrew Murrison on this subject in August. His response was exactly as M. Chapmans described above, stating what a wonder job the CON/DEM government is doing in keeping down prices unlike the last labour government. Clearly our MPs think we are all stupid! There has already been one OFT white-wash on the price of heating oil in autumn of last year. It is high time the OFT was closed down and replaced with a department that actually does something to protect the interests of consumers. All of the countries present woes can be traced back to the get rich quick criminals in the financial sector which successive governments have failed to control.

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[ posted by A P Mason, 11.09.12 09:02 ]

I am absolutely sick to death of getting shafted by the Government, Banks, Stock Markets, Pension Providers, Building Societies, Energy Companies, Transport and Supermarkets. It appears to me that as long as all of these entities are manned at the top by extremely greedy crooks, we at the bottom of the pile that have to work and save hard to survive can go to hell in a hand cart. IT WILL NEVER CHANGE BECAUSE THEY ARE ALL AT IT INCLUDING THE GOVERNMENTS.

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[ posted by Brian Smith, 11.09.12 10:07 ]

It's not just fuel prices causing economic problems, although fuel is a major contributer. And it's not just this government either - they're all as bad as each other! What this country really needs is another General Strike to show these incompetent idiots in government who is really the boss. It worked last time - why not again?

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[ posted by Chris Clough, 11.09.12 11:14 ]

As requested I wrote to my MP, Alex Cunningham (Stockton North) and this is the text of his reply
Quote
Dear Chris,
Thank you for getting in touch about the debate on Thursday. Sadly, I will be on my way back to my constituency at that time

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[ posted by bede eye, 11.09.12 11:58 ]

I live in a small rural village. The bus service has been withdrawn - the cost of fuel continues to rise as does the cost of domestic oil. In this village, as well as many others in rural United Kingdom, I rely on my vehicle. My nearest mainline train station is 30 miles away. The government sit in London for at least 50% of the year - they have access to subsidised travel that is on their doorstep, gas that is on mains and if needs be can walk to their places of work. Why should they worry about us - everything is alright as far as they are concerned. Currently we pay £1.46 per litre up from £1.34 just a few months ago - this is a 9% increase. My pay has not seen this increase - I am told to grin and bare it as a payrise is not a right, yet where the government is concerned increasing fuel taxes is akin to right that they have. Now we find out that there is profiteering by the large oil companies (not that I am surprised) - again just another group of pigs feeding from the trough that is the Great British public. It seems that direct action is the only way to make governments, banks and capitalists listen.

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[ posted by John Lez, 11.09.12 13:28 ]

It is nothing more than criminal,my wife and I live a 1000ft up a mountain miles from anywhwere trying to sell for seven years. We cant because people can not get mortgages or simply can't afford because every penny earned goes in fuel, food, interest rates, council taxes, road fund taxes, rip off (cartel)energy supply companies, rip off broadband & phone companies. People we speak to say they spend 40% of their income on fuel just trying to get to work, ridiculous.

We are pensioners suffering ill-health and regulary have to cancel important hospital appoinments as are pension is exhausted on energy, food supplies. Always the same with these toffs "if they have no bread let them eat cake" look what happened to Marion Antionette, beheaded. The French would not put up with it, have we lost the courage to fight the ever polite brit, let get some fire in our bellies and rid this lot from government, we pay them plenty to do what is right for the citizens of the UK and they are sadly failing us. The OFT report will be meddled with by the MP's that is for sure. Look forward to the results of the Levenson inquiry once the MP's doctor the true findings. Ashamed to be british.

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[ posted by Frank Kemp, 11.09.12 18:12 ]

The traders manipulating the markets in this way should lose their jobs & be charged with criminal behavour,sentenced to lengthy prison terms & finally have their assets confiscated.These people are paid thousands of pounds per week ,often daily ,yet they stick their fingers up to Government & public &appear to treat all of us as a joke.In years gone by the Russians & Chinese would have stood profiteers like them up against a wall & shot them Bloody good idea .

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[ posted by les, 11.09.12 19:04 ]

I find it surprising that the gerrymandering behaviour of speculators has only just come to light. I have known about the tricks they play for about thirty five years after meeting someone on the "desk" in a social situation. It was explained to me at that time that the oil futures was indeed manipulated by different methods at that time and I can only assume that nothing has changed, apart from an increase in tricks motivated by greed. The population of this country should be pushing the government to investigate all means to put an end to this situation as higher fuel prices not only affect motorits but ever-one.

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[ posted by Chris Hammond, 11.09.12 21:13 ]

I am getting so sick and tired of being treated like a mug. Where do we go next? The Communist ideal was corrupted by Capitalism, and Capitalism has been corrupted by greed. These people in 'charge' DO NOT care about us who are trying to make our way in life, and go about our business. These politicians are only there to enhance their chances of a blinding advisory role in some big multi-national company, rather than running a fair and honest society.

We all fell in to the trap when Maggie sold everything off and we all got a few cheap shares, which we sold the following day and made a few quid. Trouble is, we ending up selling them to the people who ran the companies anyway, only now, they could do what the damned well liked. Banks, Utility companies, Oil companies, Supermarkets etc all now have had a free run to rip us off!!

Why are we sending Billions to overseas governments, and yet not be able to rehabilitate our brave soldiers without charities like help for Heros??? How can we not look after our elderly, just sit back while they freeze to death because they can't afford to put the heating on due to fuel costs??

I hope we get some joy from the OfT, and I do hope that the FSA can have a look at the serious allegations raised in the above post.

I also have a snippet for you to enjoy. My Local BP garage was charging £1.45.9 for diesel on Sunday. On Monday it was £1.44.9. Today, Tuesday, it was £1.46.9!! I know the 'ex' manager from there and he told me, just before he was asked to leave, that BP instruct this garage to be at least 1p per litre more expensive than any other garage locally. They work on the assumption that people won't travel to save a penny!

The other classic recent BP scam I saw was buy two bottles of Coke, and get 5p off a liter. The two bottles were £2.00 so you would have to buy 40 liters to break even! Again, they were relying on people to not bother double checking. A good deal if you want a cold drink anyway, but they were, once again, relying on an impulse purchase.

So, as we all know, manipulation exists everywhere from politicians through to multi national companies, and supermarkets that pump the smell of fresh bread through the ventilation system.

Let's fight these leeches. They are bleeding us, and OUR country dry, for their own ends.

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[ posted by Kevin S, 11.09.12 23:27 ]

This is no real suprise, I have worked in the Oil and Gas industry for over 20 years and the price of petrol at the pumps has never born any relationship to the actual price of production. If it's not OPEC or other oil consortiums fixing the supply it's the chinless wonders in the financial institutions betting on the price of oil, that has constantly put the price of oil up.
Everyone keeps going on about the reduction of availability, but I was involved in a project in 1992 to install an automation system on a number of offhore rigs, because a well known UK oil supplier reckoned that their field would not last for a further 10 years. This system was upgraded in 2003 because the same company reckoned that the field would last for another 20 years. It's amazing how the bad news pushes the price up, but we never hear about the good news.
The other big thing to note is that in other oil producing countries the tax burden on the populace is offset by the government heavily taxing the profits of the oil companies. Something that David Cameron should consider (though he is probably good chums with the board of BP and Shell).

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[ posted by Susan Homer, 11.09.12 23:54 ]

Having written to my MP about fair fuel, this was his reply: Dear Susan,
Thank you for getting in touch about the debate on Thursday. Sadly, I will be on my way back to my constituency at that time

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[ posted by Sue Cuthbert, 12.09.12 13:55 ]

I was very pleased and interested to read the report from the "whistle blower".I hope that his courage in telling it how it is, will encourage other such people who have inside knowledge to come forward with more information to be presented to the Government.
The comment from Kevin S has a lot of relevant facts which should be presented to David Cameron.
We are sick and tired of being ripped off by greedy speculators.

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[ posted by Pat Maddock, 12.09.12 16:27 ]

We are being ripped off in many ways in this country and this is another one. Until ordinary people unite nothing will ever be done . I am sure someone cleverer than me can devise some way of getting a more fair deal for those who really need it.Everything is geared towards those who have and not the have nots. We should all join together it is the only way to get anything done - however people in this country are very apathetic unfortunately,

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[ posted by Andy Cresswell, 12.09.12 20:09 ]

Why do we seem suprised at this "revelation", what else have the rich to do than to rip-off the poor, because let's face it this like so many government punishments in this country, are designed to keep the working man where he belongs...
and to refill the deep pockets of the privaleged. It's not much different now to the day's of the landed gentry and the country peasant. I just wish I could afford to get out of this rich mans country.

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[ posted by Steve Lloyd, 13.09.12 07:47 ]

It's no suprise to me to hear that crude oil and retail fuel prices are being "fixed".

What I find totally annoying is that our MPs will not stand and be counted on this subject. It seems to me that perhaps their silence is being "bought".

While there will not be evidence of cash transactions, I would bet my shirt that, their glof club membership is pre-paid! Or their holidays come for free, on the proviso that they stay stum!!!!!!!!!!!!

I am not on the invitation list to my local MP's surgery's, as I have asked Mr Wiggin very awkward questions in the past about our local supermarket offering 6p fuel discounts and putting the pump price up during the offer. Also they increased the staple food prices by a penny or two to get back the fuel discount, leaving the motorist worse off by trying to use the offer.

The OFT put the supermarket on a watch list after they investigated my allegation and found colaberating evidence.

My MP tried to get me to discredit our local paper by reporting them to the press complaints commission for reporting this topic a few days late.

I would realy like him to knock on my door asking for my vote !!!!!!!!!!!!! ????????????

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[ posted by Peter Parkin, 13.09.12 08:03 ]

Here we go again! First the bankers with huge bonuses then the collapse of the banking industry caused by their excesses. Then we move onto the MP's with their noses in the expenses trough and their unwillingness to even admit that they'd done anything wrong followed by the News Of the World issue where the rich an famous were happily seeing the most vulnerable in society exploited for financial gain(the Millie Dowler phone hacking issue). Where is it all going to end? Well it's taken nearly thirty years for the Hillsborough parents to get justice because they were ranged against the most cynical and well organized cover up system in the world - The British Establishment. That's what we're up against in this fight. Forget the government - the biggest problem is overcoming the permanent civil service
The truth is that it won't end. It's time that some high profile people were exposed and sent to prison - but that won't happen because they use their well connected and highly connected mates to keep them out of trouble.
What ever happen to righteousness and rectitude? The less well off will continue to be ripped off.

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[ posted by Jaime Patel, 13.09.12 08:52 ]

I am so happy that this issue is being debated and that we the public 'may' get some answers as to why we pay so much. I am not going to pretend that I am going to understand all the in depth discussions that are going to go on about this in the House of Commons but am pleased that we are being represented at long last. Even if the price of oil does not go down, this issue needs to be aired so that we all know who is ripping us off.

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[ posted by Brian Smith, 14.09.12 09:09 ]

Further to my letter on Sept 11th, I have today received an email from Neil Parish, our local MP, who gives exactly the same sort of answer as Susan did (above). From this I get the impression there won't be many MP's in the commons debating this issue, and therefore, as usual, it will be swept under the carpet hoping everyone will forget about it. I have sent another letter to Parish, pointing out that it is not just petrol prices but all energy prices that are exhorbitant, as this week I have received notification of a huge hike in the prices of gas and electricity. I wonder what the Government is going to do about that!

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[ posted by f.williamson, 16.09.12 11:06 ]

its about time we all started to add, to the revolution and lets see what they say,

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[ posted by joseph walsh, 26.09.12 11:11 ]

hi in one garage its 1.47.lt at the other its 14.2 and one other its 1.38 is that fair for the driver

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[ posted by Bryan Griffith, 26.09.12 21:27 ]

I started a one man protest at my local filling station a few years ago I appeared in the press and on the BBC, whilst the support from passing motorists was fantastic nearly everyone pipped their horns and passed, had they stood with me for a few minutes the impact of my actions would have been greater than it was. We are a nation of moaners who are not prepared to take any direct action to bring about change. Whilst we applaud those who are prepared to act the vast majority will leave it to others. Remember the 1000 motor bikers going slow on the M6 achieve they went to the filling stations paid the excessive price for the fuel burned it up on the protest ( what did that achieve only lining the fuel companies pockets) Had two people protested outside 500 filling stations that would have caused more media coverage.
I have joined the group but until we all decide not to buy fuel one weekend nothing much will change.
I am sure you all witness like I do garages hiking up prices even when the fuel tanks are full of fuel bought at a lower price.
I believe we pay the price we deserve to pay because we are as a nation lazy and adopt a what can we do attitude, I hope Quentin gets massive support for this campaign but I think we pay the price we deserve to because the fuel companies know there will be a bit of noise then the next day we will be back filling up.

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[ posted by mick, 30.09.12 19:09 ]

we deserve to be ripped off, if I WAS IN CHARGE and had millions of mugs who keep paying I would keep putting up the price

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