HC Deb 09 July 1979 vol 970 c106W
Mr. Austin Mitchell

asked the Secretary of State for the Environment whether his Department is buying oil on the spot market; to what extent; and at what premium over contract rates.

Mr. Geoffrey Finsberg

Yes, to the minimum extent necessary to make up shortfalls on contracted supplies where the need is judged essential. Prices vary, but the overall cost of such purchases is about 45 per cent. above contract rates.