Oil market will be investigated over price-rigging fears, ministers promise
Oil traders will be investigated over allegations they rigged the market and pushed up petrol prices for millions of drivers, the Government said tonight.
John Hayes, an energy minister, will ask financial regulators to look into the oil market after 80 MPs demanded to know why drivers are paying so much at the pump. Speaking in the House of Commons, he promised to write to the Financial Services Authority highlighting concerns about the oil market. In addition, he said the Bank of England will expand its inquiry into Libor