§ 26. Mr. Banksasked the Secretary of State for Prices and Consumer Protection what proportion of the total cost to the consumer of the recent oil price increases was due to the fall in the value of the pound sterling.
§ Mr. MaclennanNearly one-half.
§ Mr. Emeryasked the Secretary of State for Prices and Consumer Protection if she is satisfied that the price rise in December of 27 per cent. on domestic heating 431W oil is justified; and what estimate she has made of the effect of this on retirement pensioners.
§ Mrs. Shirley WilliamsThe December increases in the prices of oil products, including oils used for domestic heating, were justified under the Price Code. Subject to the code, companies may distribute cost increases over the various products in a range in accordance with their commercial judgment. Background information is given in the Price Commission's Report for 1st September to 30th November. The increase in the price of domestic heating oil is estimated to have added about one-fifth of 1 per cent. to the one person pensioner household index and about one-eighth of 1 per cent. to the two-person pensioner household index.