The allegation of price-fixing by oil companies is “worrying news” for drivers, according to one motoring organisation.
RAC technical director David Bizley said consumers would be very interested to discover what comes of the raids on the energy firms’ offices.
He said: “Whatever happens, the RAC will continue to campaign for greater transparency in the UK fuel market and for a further reduction in fuel duty to stimulate economic growth.”
Andy Willox, Scottish policy convener for the Federation of Small Businesses, said firms in remote and rural areas would be justifiably angry if it emerged that price-fixing by oil multinationals had artificially inflated the price of fuel.
He said: “Every penny spent at the pumps is money not spent elsewhere in the Scottish economy. We also know that spiralling business overheads have made recovery and growth difficult for Scottish firms.
“The federation looks forward to the authorities quickly getting to the bottom of this issue.”
Another business organisation said firms which operated vehicles would be incandescent with rage if the claims proved to be true.
The Forum of Private Business said allegations that certain oil companies had colluded on price-rigging for years had not come as a shock to many small enterprises.
It said high fuel prices had played a significant part in subduing UK economic activity since the credit crisis in 2008 and, if found to be true, the oil price-fixing was a scandal on a par with Libor.
The forum’s policy adviser, Robert Downes, said: “Post-crash, rocketing pump prices blighted the UK and put a massive hole in the finances of many small businesses, particular those who rely heavily on fuel. Our members, and no doubt most of the country’s businesses that operate vehicles, will be incandescent if what many have long suspected – that is price-fixing – proves to be true.”
Quentin Willson, a spokesman for campaign group FairFuelUK, said: “The oil market isn’t transparent or accountable enough. There is an urgent need for a powerful and independent watchdog to ensure that there’s no market manipulation and that UK families and businesses pay a fair price for their fuel.”
Peter Carroll, founder of FairFuelUK, added: “If it is proved the oil market has been manipulated, it will be a scandal as damaging as the Libor debacle.”
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