Fleet News

Oil firms cleared of price fixing

OIL companies have been cleared of price fixing by the Office of Fair Trading after independent retailers had complained that the major oil companies had been selling wholesale fuel to them at prices higher than the companies' pump prices at their own branded and tied forecourts.

The OFT said a combination of high oil prices and public pressure on UK retail prices had resulted in a squeeze on diesel and petrol margins and that no evidence had been found of either price fixing agreements or abuse of a dominant position by the oil companies. However, the OFT said it would continue to monitor the market closely.

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