Following on from our earlier email to you today and in the light of news that EU competition investigators are probing the Oil market for possible manipulation, we are now calling on the UK bodies that regulate and monitor the markets to open up their investigations into these allegations and the impact of any such manipulation has had on UK families, businesses and the UK economy.
Our lead spokesman Quentin Willson wrote to the Financial Services Authority (FSA*) some months ago drawing their attention to potential ‘whistle blower’ evidence and received a disappointing response. In addition, Quentin and the team held several meetings with the Office of Fair Trading (OFT). The OFT carried out an initial inquiry into whether they should have a full blown inquiry. However, in January, they announced that they were not going ahead with the in depth investigation as they had concluded that the market was working well.
On all counts, we were left feeling disappointed and frustrated. The fact that EU investigators have now acted gives a new momentum to the situation. We are renewing our call for UK regulators to act.
Even if you are already signed up to FairFuelUK, please add your electronic ‘sign up’ to our renewed call for the UK authorities to investigate as well. This is a massively serious issue and must be resolved. Please ask your friends, family, colleagues, employees, suppliers and everyone else you know to add their sign up too, at:
www.fairfueluk.comPLEASE SIGN OUR NEW PETITION.
http://action.fairfueluk.com/page/m/4bb55c35/1797b800/30f5782a/315bb7bc/3832655014/VEsE/ ....
It says: "I support FairFuelUK's Call for the UK Financial Regulators to act......"
Kind regards,
Quentin Willson, Peter Carroll, Lynne Beaumont and Howard Cox
The FairFuelUK Team
FairFuelUK is supported by over 365,000 members of the public, the RAC with its 7 million members, the 20,000 haulage businesses in the RHA& FTA, the British Bank Aldermore and the Association of Pallet Networks The Campaign's primary focuses are to see a significant cut in Fuel Duty (with VAT the total tax approximates to 60% of the pump price), more pricing transparency and for petrol and diesel to be of equal levels of pricing at the pumps.
