HC Deb 02 February 1953 vol 510 c167W
27. Mr. Beswick

asked the Minister of Fuel and Power why, on average, over the past few years, the London Tanker Brokers' Panel awards, which he accepts for the purpose of computing the price of pool petrol, have increased when the quoted voyage rates have increased, but have not decreased when the voyage rate quotations have decreased; and why, although the rate for consecutive voyages 12 months ago was nearly 300 per cent. higher than it is today, the panel award, which he accepts, has only come down by 12 per cent.

Mr. Geoffrey Lloyd

No valid comparison can be made between percentage changes in the Brokers' Award and in the voyage rates since the one is based on a two-year time charter and the other is influenced by purely temporary factors.