A PYMNTS Company

U.K.: Victory for petrol price campaign, probe against traders

By  |  September 21, 2012

In earlier news CPI reported that the Office of Fair Trading announced a probe into the issue of alleged price-fixing in petrol prices. Now, the government will also investigate the scandal of oil traders and City speculators allegedly rigging markets to drive up pump prices. The government said, it will include alleged oil market rigging in the planned investigation into the inter-bank lending scandal (LIBOR) which artificially inflated interest rates for millions of bank customers (CPI FS Column). The government is asking the Financial Services Authority (FSA) to look into the matter and has instructed its own Civil Servants to ‘revisit’ the issue. 

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: DailyMail

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Related Content: U.K.: Competition Authority Investigates Gasoline Prices

    Related Content: Financial Services Column about Libor

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.