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Raids on oil company offices

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By (user no longer on site) OP   
over a year ago

As most of us are car drivers and constantly see the prices of crude oil going down yet no impact on the forecourt, I was not suprised to hear this news.....

The EU commission raided several oil company offices in relation to price fixing but called them investigations....

The commission said it had concerns that "the companies may have colluded in reporting distorted prices".

It did not name the firms, and said the raids did not mean the companies were guilty of any charges.

BP, Royal Dutch Shell, Norway's Statoil and the pricing agency Platts confirmed that they were working with the authorities in their inquiries.

The investigation relates to the pricing of oil, refined products and biofuels.

"Even small distortions of assessed prices may have a huge impact on the prices of crude oil, refined oil products and biofuels purchases and sales, potentially harming final consumers,'" the Commission said.

Do you think this will have any impact on the cost of fuel at the pumps?

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By *ndykayMan
over a year ago

Falkirk

In a word - no

We pay more in tax than any other European country - so much so that when I lived in London, one firm I worked for used to send me to France for 2 hours every fortnight to fill up my 1200 litre diesel tanks as it was cheaper to pay for return travel on Le shuttle and fill up in France than it was to fill up here

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By (user no longer on site)
over a year ago


"In a word - no

We pay more in tax than any other European country - so much so that when I lived in London, one firm I worked for used to send me to France for 2 hours every fortnight to fill up my 1200 litre diesel tanks as it was cheaper to pay for return travel on Le shuttle and fill up in France than it was to fill up here

"

We pay something like 40p for each litre of fuel. The rest is tax. The garage that sells you the fuel hardly sees any money either.

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound

Politicians have been quick to blame price fixing rather than taxation for fuel costs affecting individuals and business.

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By (user no longer on site)
over a year ago


"Politicians have been quick to blame price fixing rather than taxation for fuel costs affecting individuals and business."

Well in the UAE, there's no income tax and no fuel duty AT ALL. ..and we can all see how much money there is sloshing around the at the moment - although there's a much greater divide between rich and poor I think.

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By (user no longer on site)
over a year ago


"

Do you think this will have any impact on the cost of fuel at the pumps? "

Would like to think so! But suppose i best get my head out of the clouds and live in the real world!

Billy

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By (user no longer on site)
over a year ago

Its a bit of a joke the authorities going on about fuel price fixing when something like 75% is tax. Ok they need to make sure prices aren't forced up but its a bit rich pointing the finger at the oil companies.

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