MP iain Stewart welcomes new oil-market policy

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CITY MP Iain Stewart has welcomed the Government’s announcement that it will ask financial watchdogs to probe oil-market trading.

The Member for Milton Keynes South Iain Stewart said, “Many of my constituents have complained to me that petrol companies are quick to pass on increases in fuel prices, but slow to reflect falls in the price of oil.

“With global oil prices at a very high level and the cost of driving really stretching family budgets, it is essential that we find out that motorists are being treated fairly.

“The Government is doing its bit, having both cut fuel duty and halting increases in duty left in place by the last Labour Government. Fuel would be 10p a litre more if the Government had not acted.”