Oil companies raided by EU in price-rigging investigation

The European Commission has carried out 'unannounced inspections' to investigate claims oil companies colluded to manipulate prices.

RAC technical director David Bizley said: “This is very worrying news for motorists who are suffering real hardship brought about by the high cost of motoring, particularly the high prices charged at the pumps. The Office of Fair Trading inquiry concluded at the end of January that the UK fuel market was operating fairly and not against the best interests of motorists, and therefore that a Competition Commission investigation was not needed. Motorists will be very interested to see what comes of these raids. 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.”