Wednesday, February 19, 2014

Quentin Willson with Treasury Minister Danny AlexanderInflation is down which means interest rates will stay low. Steady petrol and diesel prices are one of the reasons for this positive news. The Office for National Statistics report that the fall in pump prices between 2013 and 2014 has had a negative effect on inflation. And this isn't the first time we've seen official government data showing that stable or falling road fuel prices benefit the economy significantly. When the ONS publish their inflation figures petrol and diesel form a critical part of their calculations and over the last two years we've seen that the lack of price spikes has always contributed to lower inflation.

 

Raising interest rates in the next 24 months would stall the consumer recovery and to allow high pump prices to be one of the major causes of higher inflation would be reckless in the extreme. FairFuelUK's constant lobbying of The Treasury to suspend future duty rises has created stable transport costs for the UK economy and our highlighting of the potential for oil market manipulation has made the commodities industry aware that they are now under constant scrutiny and that market pricing abuses won't be tolerated.

 

This, as we've always said, is the right way to ensure that businesses, families and the wider economy have predictable and affordable transport costs. Allowing duty and oil market prices to run out of control would have sabotaged any chance of the UK's financial renaissance. Without our efforts diesel could now cost more than £1.50 a litre and those inflation figures wouldn't look nearly so cheerful.

 

Its been a long hard battle and one we'll have to continue fighting. But we should all take comfort in the fact that this campaign and all your support really has made us pay less for virtually everything.




Please donate to help the fight for lower fuel prices and a better deal for drivers


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[ posted by Rick Burgoyne, 20.02.14 13:34 ]

To all of you who are involved in the Fair Fuel Campaign - a big thank you! Great work by all concerned on behalf of all motorists and road transport companies.
Please keep up the good work.
Kind regards,
@Fastlemon (aka Rick Burgoyne)

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[ posted by Stuart King, 20.02.14 15:07 ]

Last year in 2013, there was a report that certain individuals were in fact altering the real price of crude oil. I would like to hear what, and if anything has been reported since. I heard then that there was a possibility of prosecutions? Can anyone let us know please......

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