HC Deb 14 November 1955 vol 546 c30
38. Mr. Dodds

asked the Minister of Fuel and Power, in view of a further recent increase in the price of petrol, if he will now introduce price control for this commodity.

Mr. Geoffrey Lloyd

No, Sir.

Mr. Dodds

In view of the record profits being made, will the right hon. Gentleman state whether the Government are going to do something to protect the people and the cost of living against large-scale oil racketeers? Is it not a farce when one company puts up its price because it wants to damp down demand on grade 1 oil because it is getting too many customers? Is it not desirable that the price should be reduced rather than put up?

Mr. Lloyd

The profits of the oil industry are gained on the world-wide operations of the companies, which are in the interests of the balance of payments of the United Kingdom and of which trade in this country in retailing petrol is a comparatively small proportion.