Business News 01 Feb 2013

Decision on fuel pricing 'is a missed opportunity'

The Forum of Private Business (FPB) has expressed disappointment over the decision by the Office of Fair Trading (OFT) not to take further action regarding UK fuel prices.

Following its study into the UK petrol and diesel market, the OFT concluded that competition is 'working well' within the sector at a national level.

The OFT found that despite widespread concern over the operation of the market, increasing pump prices over the last decade can largely be put down to rises in tax and the cost of crude oil, and that there is no evidence of collusion in price fixing.

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