§ 17. Mr. Prescottasked the Minister of Fuel and Power whether his attention has been drawn to the profits which have been announced by distributors of motor lubricating oils; and whether, having regard to the fact that the profits allowed are fixed by the Lubricating Oil Pool with the approval of his Department, he is satisfied that such profits are not excessive.
§ Mr. ShinwellMy Department only approves the price at which the basic grades of lubricating oils are sold to distributors by the Lubricating Oil Pool. Nor do the latter control the prices at which lubricating oils are sold by distributors after blending and packing, but there is an understanding amongst distributors that they will, in fixing prices of their products for the home market, work to the same margins as that on which they operated prewar.