§ Mr. Arthur Lewisasked the Secretary of State for Prices and Consumer Protection what is her estimate of the effect of the 1p to 3p rise in petrol prices on the cost of living.
§ Mr. MaclennanSince one major oil company has announced that it will not be putting up its petrol prices, it is difficult at this stage to define the final effect on average retail prices throughout the country.
The direct and indirect effects on the retail price index of a 1p increase in the average retail price of a gallon of petrol 542W is estimated to be about one-fifteenth of 1 per cent.