Skip to main content
Site logo

Main navigation

  • Home
  • About Liam
  • News
  • Local Campaigns
  • Letters
  • Contact
Site logo

Petrol Prices (4/22)

  • Tweet

It is ultimately the responsibility of individual retailers to set petrol prices, based on a host of factors.  Analysis of commercial reports of the wholesale fuel prices suggests that on average, at a national level, wholesale price changes are fully passed through into pump prices within 4-5 weeks. This time represents wholesale contractual arrangements and the time taken for fuel to be delivered to filling stations through the supply chain. There is no evidence to suggest that, for given changes in wholesale prices, retail prices rise faster than they fall.

I appreciate people’s  frustration with the delay in passing on the full value of the cut to fuel duty to consumers. I welcome confirmation that the big four retailers have already brought in the full cut. It is my understanding that many independent retailers need to deplete their stocks and then resupply with fuel bought at a reduced rate before motorists will see the change in pump prices.

The Department for Business, Energy and Industrial Strategy closely monitors average retail petrol and diesel prices and publishes these data regularly. This is available at: www.gov.uk/government/statistical-data-sets/oil-and-petroleum-products-weekly-statistics.

While I am aware of the arguments in favour of introducing an independent pump pricing watchdog, I do not believe such a move is necessary. I firmly believe that the most effective way to keep fuel prices down is through an open and competitive market. In 2013, the Office for Fair Trading investigated competition in the UK fuel sector and concluded that it was operating well. It should be highlighted that the Government works with numerous stakeholders to ensure that the fuel industry is competitive, so consumers benefit from low prices. I firmly believe that the most effective way to keep fuel prices down is through an open and competitive market. 

Letters

  • Big Plastic Count (5/22)
  • Bristol Airport - Reply from the Minister (5/22)
  • Energy Costs (05/22)
  • Animal Welfare Bills (4/22)
  • Availability of Cash (4/22)
  • LGBT Rights and Support (4/22)
  • Petrol Prices (4/22)
  • Processing Asylum Claims in Rwanda (4/22)
  • Portishead/Bristol Rail Link - Letter from the Minister at the Department of Transport (4/22)
  • Statement on the Prime Minister and No 10 Parties (4/22)
  • The Elections Bill and the Electoral Commission (4/22)
  • The Government's Approach to Building Safety (4/22)
  • Workforce Planning - Health and Care Bill (4/22)
  • Free Lateral Flow Tests - Care Home Visits (3/22)
  • Fur Trade and the Import of Foie Gras (3/22)
  • Lift the Ban - Asylum Seekers and Employment (3/22)
  • Online Safety Bill Petition (3/22)
  • P&O Ferries (3/22)
  • Persecution of Women and Girls (3/22)
  • The Fur Trade (3/22)
  • Animals in Science Regulation Unit (ASRU) - 3/22
  • Cladding Remediation Costs (3/22)
  • Domestic Abuse - Valerie's Law (3/22)
  • Ukraine - Sanctions (3/22)
  • Ukraine Update (3/22)
  • Ukrainian Air Space (3/22)
  • Ukrainian Refugee Crisis (03/2022)
  • Visas for Ukrainians (3/22)
  • Animal Sentience in the UK (2/22)
  • Dementia Research (2/22)
  • Energy Price Cap (2/22)
  • Expansion of Bristol Airport (2/22)
  • Fairtrade Fortnight and International Climate Finance (2/22)
  • Hate Crime and Misogony (2/22)
  • Pubs and Alcohol Duty (2/22)
  • The Hunting Act (2/22)
  • The Police, Crime, Sentencing and Courts Bill (PCSC Bill) - 2/22
  • Parliamentary Standards - Owen Paterson (11/21)
  • Storm Overflows - Amendments (11/21)
  • Ambitious Environment Bill (10/21)
  • Fuel Supply Issues (10/21)
  • Food Plates Campaign (10/21)
  • Green Investment and the Spending Review  (10/21)
  • Ivory (10/21)
  • Live Animal Exports (10/21)
  • Climate Change (10/21)
  • Cambo Oil Field (9/21)
  • Dangerous Dogs (9/21)
  • Paying For Social Care (9/21)
  • Universal Credit (9/21)
  • Briefing Letter On Social Care (09/21)
  • The Building Safety Bill Second Reading (07/21)
  • Overseas Aid (06/21)
  • Reply from the Secretary of State - MHCLG (05/21)
  • NHS Pay Rise (3/21)
  • Sarah Everard Vigil (3/21)
  • Violence Against Women and Girls (3/21)
  • Coronavirus - Dementia (2/21)
  • Alcohol and Beer Duty (2/21)
  • Failand – Planning Proposals (2/21)
  • Neonicotinoids(2/21)
  • Sows – Farrowing Crates – Sir David Amess’s Bill (2/21)
  • MENCAP Campaign –  Vaccinations for People with Learning Disabilities  (1/21)
  • Vaccine Accessability for People with Sight Loss (1/21)
  • Briefing from DEFRA on the use of neonicotinoids (1/21)
  • Alcohol and Beer Duty (01/21)
  • Clap for Carers (1/21)
  • Anti-Genocide Lords Amendment (01/21)
  • Food Parcels - quality of free school meals (1/21)
  • Covid 19 - Support for Pubs (01/21)
  • Environment Bill - Nature Recovery (01/21)
  • Environment Bill - Plastics (01/21)
  • Food Trade Standards and Future Trade Deals (01/21)
  • Treatment of Animals in Laboratories (01/21)
  • Working Time Regulations (01/21)
  • Mental Health of Children and Young People - Comprehensive Spending Review (9/20)
  • Update - Covid 19 (09/20)
  • Overseas Aid (12/20)
  • Support for Pubs (11/20)
  • Fur Trade (10/20)
  • MP's Pay Rise (10/20)
  • A Green and Fair Recovery (9/20)
  • EU/International Law (09/20)
  • Protection of Birds of Prey – Grouse Moors (8/20)
  • Creativity is required to reduce exam problems (08/20)
  • Supertrawlers (7/20)
  • Trade Bill (7/20)
  • Environment Bill (7/20)
  • Regular Coronavirus Testing for NHS Staff (6/20)
  • A Democratic Planning System (6/20)
  • Proposal to Extend the Transition Period – Social Market Foundation Report (6/20)
  • HS2 (5/20)
  • Universal Basic Income (5/20)
  • Ocean Protection (3/20)
  • NHS & International Trade (3/20)
  • EU Trade Agreements (02/20)

Dr Liam Fox MP Member of Parliament for North Somerset

Footer

  • About RSS
  • Accessibility
  • Cookies
  • Privacy
  • About Liam
  • Constituency
Promoted by Jago Brockway on behalf of Liam Fox, both at 16 Northgate, Bridgwater, Somerset, TA6 3EU
Copyright 2022 Dr Liam Fox MP Member of Parliament for North Somerset. All rights reserved.
Powered by Bluetree