Fuel price 'rip-off' should be investigated- Retailers fail to pass on Savings

[Ghost of Huey Long]

MPs are demanding an investigation into petrol retailers who are ripping off motorists by failing to pass on the benefits of cheaper fuel.

The cross-party group of 60 MPs are urging the Government's competition watchdog to look in to claims of price-fixing by UK oil companies.

Tory MP Robert Halfon, who tabled the motion, said research shows oil companies take up to three weeks to change their prices when the cost of oil falls, and even then they fail to pass on the full benefit.

Mr Halfon said: 'The question that has to be asked is: Are oil companies now behaving like bankers?

'Enough is Enough.'

It comes after a continuous fall in the price of crude oil throughout most of the year, although it has have risen slightly in the last week, which MPs believe isn't be passed on to motorists.

http://www.dailymail.co.uk/news/article-2169654/Fuel-price-rip-investigated-fair-trading-watchdog-say-MPs-retailers-fail-pass-savings.html?ITO=1490

[BumRushDaShow]

1. It's not just the UK.

They are gouging like mad in the U.S. and calling it - "what the market will bear".

[ananda]

2. But I don't think the market is bearing it.

I mean, wouldn't it be just good business sense to lower prices,
if you can, in a market where retail sales are down?

I suspect a kind of market manipulation to make the Obama admin
look bad.

[hobbit709]

3. It's more like the bankers are acting like the oil companies.

The oil companies have been doing this for years.

[DCKit]

4. They started it!

Can you believe they even gave us a break for the 4th? Wow, they let people visit their families over the holiday.

Don't get too confidant you fuckers. Willard M. Romney is your representative, and we've seen how out of touch, how uncaring and how unlike us he is.

[Ghost of Huey Long]

5. The question is...what are we going to do to stop them?

This shock and awe policy of every greedy bastard coming at us with their scams has got to stop!