Taxes and higher crude oil prices – rather than a lack of competition – explain the rise in petrol prices over the last decade, according to an investigation by the Office of Fair Trading. It says the rise in pump prices for petrol from 76p per litre in 2003 to £1.36 in 2012 is largely explained by a 24p per litre rise in tax and duty and a 33p per litre rise in the cost of crude oil. OFT road fuels report is available at www.transportxtracom/report...
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