HC Deb 10 November 1952 vol 507 cc581-2
30. Mr. Beswick

asked the Minister of Fuel and Power if he is aware that although he accepts for the assessment of maximum prices of petroleum products freight charges based on a two-year time charter of tankers, these products are actually shipped by the major oil companies in their own tankers or in tankers chartered on a long period time basis, and as the actual freight costs are substantially below those which he has hitherto accepted, if he will reconsider the matter.

Mr. Geoffrey Lloyd

My right hon. Friend the Minister of Transport and I consider the brokers' award to be a fair index to the market rates and I do not think it would be wise to change the system.

Mr. Beswick

Is the Minister not aware that the increase of annual costs between 1948 and December, 1951, was less than 1d. a gallon, whereas the brokers award went up from 1.42d. per gallon to 3.25d. per gallon? Does not that mean that motorists and industrialists are being exploited by this petrol monopoly?

Mr. Lloyd

I do not think it is fair to look at this matter only when the trend of freight rates is in one direction; when it is in the other direction the effect is opposite. If the hon. Member thinks these companies are doing unduly well out of it, I must point out that all I am doing is to maintain the arrangement made by his predecessor.

Mr. Beswick

Has it escaped the notice of the Minister that the Economic Co-operation Administration are claiming back 67 million dollars which, they feel, have been overcharged by the petrol companies? If they can stand by the right of the consumer, cannot the Government do likewise?

Mr. Lloyd

That is an entirely different question.