US EditionOil Price Profiteering Will Not Be Tolerated, Says Minister
The Chancellor demanded the Competition and Markets Authority monitor fuel prices and warned against profiteering as diesel rose nearly 9% and petrol 6%, the RAC reported.
- On Friday, Rachel Reeves wrote to the CMA urging it to stay on 'high alert' for unjustifiable price hikes and will meet petrol retailers and energy suppliers at Downing Street with Mr Miliband.
- Rising pump prices and market moves show diesel prices have risen by nearly 9% and petrol by about 6% since February 28, prompting the CMA to put retailers on notice amid the Middle East conflict.
- Opposition parties and motoring groups urge delay on the 5p fuel duty reintroduction, with the AA warning consumers 'will be stung' by rising costs, as the Chancellor faces pressure to scrap the plan.
- Mr Miliband said 'Tackling the cost of living is our number one priority' and urged all fuel retailers to join the fuel finder scheme, while the Government promised to act against unfair practices hitting heating oil customers outside Ofgem's cap.
- The Conservatives said the Chancellor could cancel the fuel duty rise or cut energy taxes but is failing to act, while industry warned rising oil prices will hurt inflation.
28 Articles
28 Articles
Rachel Reeves issues stern 'exploitation' warning to fuel firms amid price hikes
Chancellor Rachel Reeves and Energy Secretary Ed Miliband will meet fuel industry bosses for Downing Street roundtable in wake of the Middle East fall-out which has seen fuel costs soar
Rachel Reeves issues 'high alert' over petrol pump profiteering as Chancellor summons leaders
The Chancellor has put watchdogs on “high alert” for petrol pump profiteering as she summons industry leaders to a showdown over pricing.Rachel Reeves and Energy Secretary Ed Miliband will meet with petrol retailers and energy suppliers in Downing Street today and tell them: “Drivers must get a fair deal at the pump.” Ms Reeves has also written to the Competition and Markets Authority, asking it to look out for unjustifiable rises in petrol, die…
ACS BACKS FORECOURT RETAILERS OVER FUEL PRICE VOLATILITY
The Association of Convenience Stores will be attending a roundtable with the Chancellor Rachel Reeves and Energy Secretary Ed Miliband in Downing St this afternoon, explaining to the Government that prices at the pumps are as a result of wholesale price volatility, not profiteering by businesses.
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