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PM urges faster petrol prices drop
31.10.08
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Prime Minister Gordon Brown said the price of petrol at the pumps should be coming down faster.
Mr Brown said customers should be able to take advantage of the plummeting price of oil.
He was addressing a business breakfast in Edinburgh on Friday morning, before embarking on a day of campaigning on the Glenrothes by-election trail.
He also told business leaders that the Scottish banking industry can come through the current crisis, after the multi-billion pound Government bail-out of HBOS and Royal Bank of Scotland.
The Prime Minister said many people are facing difficulties with their gas and electricity bills because of the price of oil.
And he added: "The price at the petrol pump is coming down and it should come down faster.
"The oil price trebled and people paid a huge price for that. The oil price has halved and I want people to get the full benefit of that and I want that to be fed through to people."
Food prices, energy bills and the transport industry are among the areas which suffer a knock-on effect when fuel price rise.
"It's affecting everyone," Mr Brown said. "More people shaking their heads when they go to a petrol station and find what the price of petrol has gone up to as a result of oil prices.
"Now oil prices are going down and this is our chance to get a stable energy market."
Reader views (5)
Conman Gordon again, who takes about 66 pence in every 100 pence of petrol. He should cut petrol prices now. Brown's arrogant con tricks insult everyone. He boasted he had ended the economic cycle. A Brown con, a deception. His change of inflation measure to CPI was a con, to make him look good with low inflation. Only this stupidity led to low interest rates and the boom.
His con that banks should pass on the full rate cut. He controls Northern Rock, the one passing on the smallest cut. He does nothing but big talk and self boasting.
Constantly pretending he cares for 'hard-working families'. The fact is he stung them for a big tax hit, to pay for a cut to buy votes of the better off.
Brown lectures others to be more transparent. While he hides £100 Bns of taxpayer debt off balance sheet, the latest is Northern Rock. Just so he can boast he is not borrrowing more than 40% of GDP. This is like Mandy who applied for a loan and lied that he had no other loans. Basically it should be criminal. Brown's conman economic policies are just headliners and then spin. Brown's Boom, lead to Brown's Bust. His bluster and pretence of expertise is fake. He conned millions into thinking there was no risk, so they took huge loans at the market peak. Brown was as guilty as any banker. He set the tone of pretending no risk. Brown is the worst Chancellor and PM since WW2.
- Jim, London
If I recall correctly, about 70% of the cost of petrol at UK pumps goes to the Government: is there NOTHING Gordon can do about it . . . ?!
- Roz, Chamonix, France
This is the worst sort of grandstanding by a politician. By demanding a drop in prices Mr Brown is attempting to send a message to the public to the effect that he has the power to demand it. He doesn't. Oil companies sell petrol at the price at which they wish to sell it to maximise profit; that's their duty to their shareholders. Who does the Prime minister think that he is kidding ?
- Peter Haldane, London
What sheer, utter hypocrisy and effrontery. If New Labour didn't thieve so much in fuel duty and VAT from every gallon that would make a far bigger difference at the pump. But no, this busted flush of a PM needs our cash for his pet projects and we can go hang.
- The Gene Genie, Croydon
Gordon, Gordon, Gordon... the power is in your hands, and yours only, to reduce the price of fuel. Stop fannying about with your posturing and reduce the duty on petrol and diesel if you are really so serious about this. You have made more than BP and Shell combined in the past 3 months in VAT and duty on road fuel.
- Nobby Clark, Perth, Scotland
