§ Mr. Evelyn Kingasked the Minister of Power (1) what is his policy with regard to the removal of the 2d. a gallon temporary surcharge imposed on oil in 1967:
(2) what effect devaluation has had to date on the price of fuel oils.
§ Mr. MarshThe temporary surcharge of 2d. a gallon on the schedule prices of all oil products was reduced on 2nd December 1967 to the extent necessary to compensate for the increases in the landed cost of oil resulting from devaluation leaving the schedule prices of the main oil products unchanged. I am keeping the remaining surcharge under close review.
For fuel oil, the devaluation element is 0.75d. a gallon.