This is something we have seen time and time again, and the nation is owed an explanation.
We are hopeful this investigation will indeed lift the lid on who is really to blame for this kind of profiteering, whether it be the petrol stations, the suppliers, or even both.
The facts are there is real concern among businesses as to the cause of this one sided and unfair price yo-yoing – and most agree this investigation is way overdue.
Interestingly, the OFT have said they will publish the results in January – which is when August’s postponed 3p a litre duty rise will take effect. Mere coincidence, or Government trickery?
Whatever the answer, we await the results with interest for this is not a time when anyone should be trying to make a quick buck at the expense of others.
There’s a well known anecdote set during the 1970s oil crisis when a well known oil company supposedly told the crew of a tanker brimmed with oil to anchor offshore and simply wait as the cost of crude rose by the hour.
Is the process of ‘quick to rise, slow to fall’ we see on our forecourts really any different?
Profiteering is profiteering, and the sooner it ends the better for all.