Labour says maximum prices order must be made to fix price of petrol and diesel

09 March 2022

Labour Party spokesperson on Finance Ged Nash has today said maximum price orders must be immediately introduced in an effort to address the spiralling cost of petrol and diesel.

Deputy Nash said:

“The pressure being applied to the backs of working people is rapidly becoming unsustainable. The Government must get real and cap the price of petrol and diesel at the pumps through a maximum prices order.

“This is possible under Sections 61 to 63 of the Consumer Protection Act (2007) and is permissible when there is a serious disturbance to our economy. There is war in Europe. Exceptional times demand exceptional measures to protect our economy and living standards.

“This measure among others is required to give working people and businesses some much needed relief.

“Furthermore, we believe authorities must investigate claims of price gouging and claims I have received of what could amount to a form of collusive price-fixing by some fuel retailers.

“The Labour Party is firmly on the record as saying that a mini-budget for 2022 was needed to give people certainty and to help protect living standards. These calls were ignored and now we are in a situation where working people are being gouged left, right and centre.

“The planned reductions on petrol and diesel are of themselves inadequate. It is a case of the government robbing Peter to pay Paul. We need to go further and faster and immediately meaningfully slash VAT on petrol and fuel to support workers and businesses.”

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