Fuel Prices

Debate between Andrew Bingham and Graham P Jones

Thursday 13th September 2012 Commons Chamber

[Andrew Bingham]

My hon. Friend makes an excellent point with brevity, and I appreciate that.

We hear about deprivation in different parts of society. There is a thing called rural deprivation. Yes, I am lucky to represent and live in a beautiful area, but we pay for that through higher fuel costs and our increased reliance on fuel. Lots of other rural communities up and down the country suffer the same misfortune.

We are lucky that our Government are in power, because we are 10p a litre better off than we would be if the Labour party were still in government. However, we pay more in rural areas. The difference goes to the oil companies, not necessarily the Chancellor of the Exchequer. I believe that the Government are doing everything they can to keep fuel prices down, but it is time that the oil companies started to play their part and did what they could. We need to make motoring affordable. I welcome the call by the Office of Fair Trading for information on the UK petrol and diesel market; I hope that it will shed enough light to inspire a full investigation. We need open and transparent oil trading.

[Graham Jones (Hyndburn) (Lab)]

Is the hon. Gentleman suggesting that markets do not work?

[Andrew Bingham]

Far from it; the market would work perfectly if we could see a little more of how it works. The issue is about ensuring that there are fair petrol prices and that when the oil price comes down, so does the petrol price.

Mrs Bingham complains that I do not take her anywhere expensive any more, but last week I took her to a petrol station in High Peak. [Laughter.] I spoil her.

In the interests of brevity, I will conclude. I hope that the action of the OFT will lead to an investigation into fuel prices. I hope that it will do it quickly and fairly and that the oil companies will react and do what we are doing as a Government to help to get the prices down. They should do that quickly to help hard-working families in High Peak and across the country and to help get the economy going, enabling people to put fuel in their cars and live their lives as they wish.