Brown and David Miliband at EU Council
Petrol suppliers have come under pressure to drop their prices and follow the lead of two major supermarket chains. Asda and Morrisons both brought their forecourt prices below £1 a litre, to reflect the falling cost of crude, but other suppliers have not been so forthcoming. Many fuel companies have been accused of profiteering because their prices are so high and now the Government has stepped in to shame them into giving motorists a better deal.
Garages in some parts of the country are still selling petrol for £1.20 a litre and Prime Minister Gordon Brown has accused them of overcharging drivers. Brown, speaking at the European Union summit in Brussels, told the Opec oil-producing cartel not to cut production after it was reported that this would be discussed next week in a meeting.
A Downing Street spokesman said that Mr Brown ‘has made clear that all institutions, including Opec, should act in the interests of global economic growth and stability at this challenging time for the world economy…Artificially increasing the oil price by reducing production will add to the difficulties faced by businesses and families across the world.’
The PM said there was too much variation in petrol prices across the UK. ‘In some areas, it is as high as £1.20 a litre. That must change. I think the public know that when oil prices go up it is reflected very closely in the pump price. They want to know when it comes down, it will be reflected equally.’