Fuel suppliers urged to reduce prices

Borders MP Michael Moore is backing moves by the UK Government to put pressure on fuel suppliers to reduce the cost of petrol and diesel at the pump

Liberal Democrat Chief Secretary to the Treasury, Danny Alexander, has written to fuel suppliers to make clear that the public expects lower oil prices to be reflected in lower prices at the pumps - and quickly.

The Coalition Government scrapped Labour’s fuel duty escalator and, as a result, fuel will be 20p a litre cheaper by the next General Election, with the average fill-up costing £9 less. Fuel suppliers were asked to play their part too in reducing the cost of fuel.

Mr Moore said: “It is deeply frustrating that when the wholesale price of oil drops, this is not reflected in prices at the pump. Here in the Borders, as a rural area, we are heavily dependent on our cars to get around and high fuel prices squeeze the budgets of local families.

“The UK Government has frozen fuel duty and scrapped the escalator, saving Borderers over £600 since 2010. It’s now the fuel suppliers turn to do their bit and pass on savings to customers.

“It has been good to see fuel prices drop in some parts of the Borders. They have not gone far enough though.”