§ Mr. Ellisasked the Minister of Power when he will make a further announcement on the temporary surcharge on the prices of petroleum products.
§ Mr. MasonYes. Additional costs are still being incurred as a consequence of the continued closure of the Suez Canal, but the Government, after discussion with the leading oil companies, have decided that the average level of temporary surcharge can now be reduced by approximately one third. To give maximum benefit to industry and commerce the reduction—which is equivalent 383W to about£23 million per annum—will be applied to all rates of surcharge except that on motor spirit, and will bring the surcharge on each product down to½d. a gallon, the current rate for motor spirit The revised surcharge will come into operation from 23.59 hours on Friday, 14th February. The Government will continue to keep the position under review.