Petrol and diesel prices

Petrol 127.9
Diesel 131.9 at Morrisons this afternoon.

Their car park was flooded to a depth of six inches in places and rainwater was cascading from a broken downpipe.

On the way up again! 130.9 at Morrisons yesterday.

On the way up again! 130.9 at Morrisons yesterday.

Same story here but not quite as high:

Basic unleaded: 128.9
Basic diesel: 133.9

Gone up some more. And now there are allegations of price fixing. More fiddling by banks......

Gone up some more. And now there are allegations of price fixing. More fiddling by banks......

Yes, it's been confirmed by the former industry regulator that J.P.Morgan (Chase-Manhattan) has been rigging the wholesale price of oil for some time.

Meanwhile at the BP station opposite Butts Park Arena petrol was 132.9 and diesel 137.9 per litre this evening.

BP Butts Park Arena:
Petrol 140.9
Diesel 144.9

Morrisons Holyhead Road:
Petrol 136.9
Diesel 142.9

It's not often I get an opportunity to compare prices on the same day:

Morrisons Holyhead Road:
Petrol 132.9
Diesel 136.9

BP Butts Park Arena:
Petrol 136.9
Diesel 140.9

OFT says UK petrol market is "working well"

A study of the UK petrol and diesel market by the Office of Fair Trading (OFT) has said little action is needed.

"The evidence gathered by the OFT suggests that at a national level, competition is working well in the UK road fuel sector," its report said.

It found the UK has some of Europe's cheapest fuel prices before tax.

It said there was very little evidence that petrol and diesel prices rise quickly when oil prices go up, but are slow to fall when prices drop.

"We recognise that there has been widespread mistrust in how this market is operating," said OFT chief executive Clive Maxwell.

"However, our analysis suggests that competition is working well, and rises in pump prices over last decade or so have largely been down to increases in tax and the cost of crude oil."

It found the UK has some of Europe's cheapest fuel prices before tax.

Says it all!

Quentin Wilson was unconvinced:

"Every motorist and business in Britain instinctively knows that 'something's not right'," he said.

"The OFT appears to have failed to address the key issues of : why diesel is more expensive than unleaded in the UK when this is not the case in Europe, why falls in the oil price take so long to be reflected at the pump, and why there are such variations in price, often from the same branded forecourts, within the same area."