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06/11/2014
Treasury Secretary To Urge Oil Companies To Reduce Prices
The Chief Secretary to the Treasury, Danny Alexander, said he will appeal to oil companies to pass on savings to consumers.
Mr Alexander said that while the price of oil has fallen from $115 per barrel to around $84 per barrel, or around 25%, petrol prices have only come down by around 6%.
The Treasury secretary said he hopes to secure assurances that savings being made by firms through cheaper oil is passed on to customers.
Mr Alexander said that people would "rightly be angry" if prices didn't not did come down.
(MH/IT)
Mr Alexander said that while the price of oil has fallen from $115 per barrel to around $84 per barrel, or around 25%, petrol prices have only come down by around 6%.
The Treasury secretary said he hopes to secure assurances that savings being made by firms through cheaper oil is passed on to customers.
Mr Alexander said that people would "rightly be angry" if prices didn't not did come down.
(MH/IT)
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The price of crude oil, boosted by security fears and ever increasing demand from the US and China, has reached another record high – today hitting $41.50 per barrel at the New York Stock Exchange. The price of Brent crude oil in London has also jumped, surging to $38.40 – levels not achieved since the first Gulf War raged in 1990.
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The price of crude oil, boosted by security fears and ever increasing demand from the US and China, has reached another record high – today hitting $41.50 per barrel at the New York Stock Exchange. The price of Brent crude oil in London has also jumped, surging to $38.40 – levels not achieved since the first Gulf War raged in 1990.
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