Are petrol prices monitored?

joyfull

I know there's been lots of stuff on the website about the cost of petrol. This isn't another rant about the price of petrol.

This is a genuine question as to whether there is any 'body' as such that monitors the cost of petrol on our forecourts. I know many factors influence the price we pay but is there any system in place to stop prices just going up & up just to make more profit for those involved.

Many thanks.

Cool_Username

Not really - the cost of petrol at the pump is a combination of the charge made by the oil companies and the tax placed on it by the government. The tax on petrol will continue to rise incrementally as it has for decades, leading to higher prices at the pump as well as the oil companies charging more per barrel.

There is (unfortunately) no organisation or government department who is going to say "enough is enough" and place a cap on what can be charged per litre if that's what you're getting at.

globalds

I think it is just the free market..

If you sell for much more than others in the market people will go elsewhere.