§ 67. Mr. Beswickasked the Minister of Fuel and Power whether the increased freight charges accepted by him as justifying recent increases in the price of petrol were based on the single voyage, consecutive voyages, or a long period time charter.
§ 69. Mr. Beswickasked the Minister of Fuel and Power if, when accepting the London Tanker Brokers Panel's recommendations as to what is a fair and reasonable freight charge when fixing the price of petrol, he will ask for the proportion of the tanker fleet owned directly or indirectly by the oil companies.
§ Mr. Geoffrey LloydThe Brokers' Award, which I accept for the assessment of maximum prices of petroleum products, is based on a two-year time charter of a standard tanker, which my right hon. Friend the Minister of Transport considers to be a fair index to current ocean freight charges. I understand that the oil companies themselves, or through their associates, own about half the tanker tonnage which they use, but this proportion does not affect the Brokers' Award.
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§ 68. Mr. Beswickasked the Minister of Fuel and Power if the sums of money now offered to retail distributors of petrol by the major oil companies as compensation for the restriction of sale to one board is accepted by him as a proper item of expense when agreeing the retail price of pool petrol.
§ Mr. Geoffrey LloydI was not aware that the exclusive selling arrangements between the oil companies and the retailers, which I presume the hon. Member has in mind, have taken this particular form. I have not so far allowed any expenditure on these arrangements in the maximum price of petrol, but I am considering the matter as part of a review now proceeding.