§ 38. Mr. Doddsasked 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 LloydNo, Sir.
§ Mr. DoddsIn 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. LloydThe 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.