HC Deb 20 April 1953 vol 514 cc629-30
21. Mr. L. Thomas

asked the Minister of Fuel and Power whether he is aware that the London Tanker Brokers' Panel has fixed the standard time charter rate for oil tankers at 22s. 3d. per ton per month, as compared with 42s. 6d. previously and 52s. per ton a year ago; and if he will take steps to ensure that this decrease in the charter rate is reflected in an immediate reduction of not less than 1d. per gallon in the price of petrol with a comparable reduction in the price of other oil fuels.

Mr. Geoffrey Lloyd

I am aware of the recent reduction in the brokers' award and am reviewing the prices of petroleum products in the light of this and other factors.

Mr. Beswick

Is the right hon. Gentleman aware that this latest award is very much overdue, and that the reduction bears out the figures I gave in a Question last February and which the Minister then controverted? Will he say, if he does agree, as he ought, to reduce the price of pool petrol, that he will expect companies to make a similar reduction in the prices of branded petrol?

Mr. Lloyd

I think the fact that the brokers' award has taken the turn down that the hon. Gentleman expected, somewhat prematurely, merely shows the fairness of the method adopted.