MP backs calls for inquiry into high price of petrol

Livingston Labour MP Graeme Morrice has backed calls for a full inquiry by the Office of Fair Trading into the relationship between oil prices and fuel costs.

He said hard-pressed families and businesses, already hit by tax rises and spending cuts, were feeling the squeeze from record petrol and diesel prices.

Mr Morrice said between 2007 and 2012 the pump price of petrol had risen by 38 per cent and by 43 per cent for diesel and voiced concern that reductions in the price of crude oil were not being passed on to motorists.

The AA this week confirmed the average price of a litre of unleaded petrol had reached a near-record level of 139.71p.

Mr Morrice said: “I know families and businesses in West Lothian are really feeling the squeeze from record petrol and diesel costs. The rocketing price of fuel is a key reason for cost of living and business worries and the Coalition Government has failed to take decisive action to address the problem.

“I support a full and immediate inquiry by the OFT into the UK petrol and diesel sector. I also believe it is time for the Government to take action to ensure that motorists are getting a fair deal.”