The UK Government has urged petrol and diesel distributors to cut prices further after recent declines in the cost of oil. Oil has fallen from around $115 per barrel in June to about $84 per barrel, a fall of around 25%, yet petrol prices have only fallen by 6% in the UK.
Mid-Scotland and Fife MSP Murdo Fraser has added his voice to the calls for suppliers and distributors to pass on the benefits of falling oil prices to customers, as quickly as possible.
In 2011, the UK Government cut fuel duty by 1p and subsequently froze the tax, meaning petrol and diesel prices will be about 20p per litre cheaper by the end of this Parliament.
Murdo Fraser MSP said:
“The price of oil is dropping fast and after years of high prices, oil companies should be passing these savings onto motorists.
“In rural parts of Perth and Kinross, Fife and Stirling the only way to get about is by car and unless public transport improves substantially this will remain the case.
“Rural motorists already pay more for their fuel and with oil prices dropping by a quarter in recent months they will be frustrated not to see greater savings.
“The UK Government has taken steps to help motorists. By freezing fuel duty, petrol is around 20p per litre cheaper than it could have been. But now is the time for distributors to act and pass on their savings to struggling consumers.”
Mid-Scotland and Fife MSP Murdo Fraser has added his voice to the calls for suppliers and distributors to pass on the benefits of falling oil prices to customers, as quickly as possible.
In 2011, the UK Government cut fuel duty by 1p and subsequently froze the tax, meaning petrol and diesel prices will be about 20p per litre cheaper by the end of this Parliament.
Murdo Fraser MSP said:
“The price of oil is dropping fast and after years of high prices, oil companies should be passing these savings onto motorists.
“In rural parts of Perth and Kinross, Fife and Stirling the only way to get about is by car and unless public transport improves substantially this will remain the case.
“Rural motorists already pay more for their fuel and with oil prices dropping by a quarter in recent months they will be frustrated not to see greater savings.
“The UK Government has taken steps to help motorists. By freezing fuel duty, petrol is around 20p per litre cheaper than it could have been. But now is the time for distributors to act and pass on their savings to struggling consumers.”