Petrol Prices

Barry Gardiner Excerpts

Wednesday 15th May 2013 Commons Chamber

[Mr Davey]

My hon. Friend is right to ask that question, but I remind him and the House that we are talking about allegations, and that we are at the early stage of investigations. It is important that people remember that.

One benefit of the investigations by our independent competition authorities is that we can try to ensure that our markets work more effectively. If manipulation is proved, and if it is proved that the manipulation led to higher prices, we could see lower prices, which would be welcomed by many outside the House.

[Barry Gardiner (Brent North) (Lab)]

In January, the OFT did not find no evidence; it found evidence of price fixing, albeit limited evidence. At that time, did the Secretary of State ask what the evidence was? If so, what consideration did he give it, and what actions did he recommend as result?

[Mr Davey]

I have not seen that specific evidence, but I know that it was very small and that the OFT felt that the evidence was unable to lead it to a further investigation. However, it was clear that the OFT announced a call for information—the Government supported that. The OFT wants people to bring forward information, which is exactly what they should do.