§ 5. Mr. Langford-Holt
asked the Minister of Fuel and Power when he expects to conclude his review of the prices of petroleum products; and whether he will make a statement.
§ 7. Mr. Beswick
asked the Minister of Fuel and Power if he has now completed his review of the price of pool petrol; and what his decision is.
§ Mr. Geoffrey Lloyd
Petroleum products are now in ample supply and I have decided that there is no longer any need 1733 to control their prices. I understand that reductions in prices will be announced by the companies within the next two days.
§ Mr. Langford-Holt
Is my right hon. Friend aware that the last part of that reply was inaudible to me, at any rate?
§ Mr. Beswick
Is the right hon. Gentleman aware that the announcement that he has made—that there will be a reduction in prices within the next two days —will be particularly welcome because so many people believe that artificially high tanker rates, which have virtually settled the price of petrol, have been pushed up by the big companies who themselves own the majority of the world's tankerage?