Prosecute ‘Oil Price’ Fiddlers
The RAC and Road Freight Industry backed campaign group FairFuelUK has reacted with shock and anger to reports that Oil traders and other groups may have been involved in a LIBOR style rigging of markets.
Quentin Willson, national spokesman for FairFuelUK said, ‘I've always maintained that speculation and price manipulation is rife in the oil market. But if there's been a deliberate fiddling of the figures by financial institutions and traders, this will have cost UK consumers millions in unnecessary expenditure and has worked to frustrate the efforts of honourable organisations like FairFuelUK who have worked hard to protect consumers and businesses from high fuel prices. These dark and devious forces should be held to account and an investigation into oil price manipulation started immediately. Such heartless exploitation of hard-working families and businesses for personal gain is unbelievable.'
Peter Carroll, founder of FairFuelUK said, ‘If these reports are true those involved should be named, shamed and prosecuted’.
FairFuelUK is campaigning for the Government to initiate two enquiries:
- The first into the alleged rigging of the Oil price.
- The second into the whole market process of petrol & diesel in the UK.
Source of posts from Daily Telegraph news report: Click Here