UK: AA Seeks EU Investigation into Fuel Prices
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Tuesday, 31 January 2012 |
The AA and other motoring organisations across Europe are stepping up a campaign urging the European Union to investigate alleged market manipulation by energy companies and financial speculators and find out why fuel prices have not dropped.
The AA is set to meet its counterparts in early February to discuss these prices and hopes to find a way to ease the impact rising fuel costs are having on motorists. The organisation points out that the price of European petrol currently stands at $1,200 per metric tonne, the same price as in 2008, even though oil prices are 10 to 15 per cent cheaper.
Luke Bosdet, AA spokesperson, said the organization did not know whether oil companies, refiners or investment banks and other financial speculators were behind the disparity. “This is why we need the European Commission to investigate,” he said. “In the US, Australia and south-east Asia, there is published information on all this that makes it easier to see what is happening. Is it the middlemen who are doing the damage here? We have no way of proving it.”
PetrolWorld 31012012
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