Pass Savings on to Motorists – says Lib Dem Minister

Chief Secretary to the Treasury, Danny Alexander, is asking fuel companies and supermarkets to ensure motorists benefit from wholesale price cuts.

Alexander says that it will be an ‘outrage’ if the suspicion that the companies keep prices unnecessarily high was proved correct. ‘When the price of oil falls, the public have a right to expect pump prices to fall like a stone, not a feather.’

The Serious Fraud Office is carrying out a review into allegations that oil companies have ripped off drivers by fixing prices.

Firms have repeatedly denied that the falling price of crude in recent months has not been properly reflected at the pumps.

Average forecourt prices has fallen by 6.75p a litre since June as oil has dropped by $27 a barrel.