Question

To ask the Secretary of State for Energy and Climate Change, if the Government will launch an inquiry into the price of fuel to identify the reasons for the disparity between global oil prices and the domestic prices paid by motorists.

The Government has made it clear to the industry that it is vital the benefits of plunging oil prices are passed on quickly to the domestic prices paid by motorists.

UK national average pump prices are now at their lowest levels since March 2010 for diesel and at its lowest since Dec 2009 for petrol. We expect fuel retailers to cut prices further as the decline in crude oil prices in recent weeks continues to feed through the system.

We continue to monitor price movements very closely.