Oil Company Tax Demanded To Reduce Cost To Consumers

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Oil Company Tax Demanded To Reduce Cost To Consumers

May 25, 2012

Conservative MP, Robert Halfon has called for a new oil firm tax to help bring down the cost of fuel.

The MP had previously campaigned to bring down fuel duty, however, he is now urging the Government to tax fuel companies.

Harlow MP, Robert Halfon has said that a windfall tax should be introduced with the money gained from the tax to fund plans to reduce the financial burden of fuelling up.

With other motoring costs, including essentials such as car insurance to consider, British motorists look to be hard stretched with the 3p fuel duty increase to be introduced in August. Mr Halfon has stated that the money gained from the tax could be used to prevent the increase.

He has also requested an investigation into the price at pumps by the Office of Fair Trading (OFT), commenting on the price of fuel:

"Always quick to rise when the cost of a barrel of oil went up, yet it feels like you need a court order to get them down."

Source: http://m.dailymail.co.uk/money/cars/article-2149139/MPs-probe-petrol-prices.html