Oil Price
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Put that the Prime Minister said that the price of oil should be reflected in lower gas and electricity bills, and asked what steps the Government was prepared to take to achieve this, the PMS replied that we had been through this several times before. Clearly when the price of oil went up, we saw the price of fuel paid by both motorists and by households rise quickly thereafter. All the Prime Minister was doing was pointing out that the public would expect the retail price of fuel and the retail price of energy to come down as oil prices fall in the other direction. Clearly as the Prime Minister has said, if there were any issues relating to anticompetitive practices, then that was really a matter for the OFT to consider.
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