OFT says British petrol market 'working well'


LONDON, Jan 30 (Reuters) - Britain's consumer affairs watchdog said competition in the UK petrol and diesel market was "working well" and there was little evidence that pump prices rise quickly when the wholesale price goes up but fall more slowly when it drops. The Office of Fair Trading (OFT) said on Wednesday that rises in pump prices for petrol and diesel over the last decade had been caused largely by higher crude oil prices and increases in tax and duty, and not a lack ...

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