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OFT issues call for information into petrol and diesel prices

 

PRESS RELEASE

5th September 2012

The Director General of UKPIA, Chris Hunt, the trade association representing the main oil refining companies in the UK, some of which also have marketing interests, commented on the OFT announcement as follows:

“We await the OFT’s questionnaire in connection with the call for information on petrol and diesel prices but it is worth bearing in mind that UK major brand pre-tax pump prices in 2011 remained the cheapest amongst major EU countries (Source: Wood Mackenzie). At the same time, the UK’s oil refining industry remains under threat from a combination of  tough commercial conditions, reduced demand for oil products, structural imbalances in supply/demand and a challenging legislative climate in the EU and the UK.”

 

Ends

Enquiries to: Nick Vandervell, UKPIA Tel. 020 7269 7604  

                        

Notes to editors:

 

1.      UKPIA represents nine oil refining and marketing companies that operate the 7 major oil refineries in the UK; the refineries processed 74.7 million tonnes of crude oil and produced 76.1 million tonnes of refined products in 2011 (Source: DECC- DUKES data). UKPIA members also own around 1,900 of the 8,700 filling stations in the UK.

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