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1673098

registered interest
date	27/11/2023
answering body	Department for Energy Security and Net Zero
answering dept id	215
answering dept short name	Energy Security and Net Zero
answering dept sort name	Energy Security and Net Zero
hansard heading	Oil: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Energy Security and Net Zero, what assessment she has made of trends in the price of oil in Northern Ireland.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	3834
answer	answer is ministerial correction date of answer 04/12/2023 answer text <p>The Department publishes a monthly price index of crude oil and average prices for oil derivatives, in the UK, on GOV.UK here:<br> <a href="https://eur02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.gov.uk%2Fgovernment%2Fstatistical-data-sets%2Foil-and-petroleum-products-monthly-statistics&amp;data=05%7C01%7CParliamentary.PQ%40energysecurity.gov.uk%7Ca81e3aa8e3254d50481508dbf28079af%7Ccbac700502c143ebb497e6492d1b2dd8%7C0%7C0%7C638370405852611977%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=dEfkCVPr388rDgW8W52m3OwqLvte9BijD2QspK6kKQI%3D&amp;reserved=0" target="_blank">https://www.gov.uk/government/statistical-data-sets/oil-and-petroleum-products-monthly-statistics</a></p><p> </p><p>The associated data is not collected at a level of geographic granularity to determine prices in Northern Ireland specifically.</p> answering member constituency Derby North answering member printed Amanda Solloway question first answered 04/12/2023 07:26:25 answering member 4372 label Biography information for Amanda Solloway
tabling member	4131 label Biography information for Jim Shannon

1540002

registered interest
date	07/11/2022
answering body	Foreign, Commonwealth and Development Office
answering dept id	208
answering dept short name	Foreign, Commonwealth and Development Office
answering dept sort name	Foreign, Commonwealth and Development Office
hansard heading	Oil: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what discussions his Department has had with OPEC on reducing the price of oil.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	80642
answer	answer is ministerial correction date of answer 16/11/2022 answer text <p>We engage regularly with international partners, including non-Russian OPEC+ countries, on the importance of maintaining stability in global energy markets. We encourage others, where they can, to backfill Russian production in the short-term, and to scale up investment and international co-operation in clean energy to reduce longer-term dependence. It is vital that we combat high energy prices and inflation.</p> answering member constituency Berwick-upon-Tweed answering member printed Anne-Marie Trevelyan question first answered 16/11/2022 17:18:00 answering member 4531 label Biography information for Anne-Marie Trevelyan
tabling member	1447 label Biography information for Andrew Rosindell

1404316

registered interest
date	19/01/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Oil: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking to ensure that falling wholesale oil prices are reflected at filling stations.
tabling member constituency	Harlow
tabling member printed	Robert Halfon
uin	107545
answer	answer is ministerial correction date of answer 24/01/2022 answer text <p>BEIS publishes weekly national average pump prices: <a href="http://www.gov.uk/government/statistical-data-sets/oil-and-petroleum-products-weekly-statistics" target="_blank">www.gov.uk/government/statistical-data-sets/oil-and-petroleum-products-weekly-statistics</a>. The Department’s analysis shows that both rises and falls in crude oil prices are passed through to consumers over the course of 6-7 weeks. No evidence has been found to suggest that, for given changes in crude oil prices, retail prices rise faster than they fall.</p><p> </p><p>Competitive markets ensure that consumers get a fair deal and that road fuel prices stay as low as possible. This framework delivers pre-tax prices in the UK which are below the European average.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 24/01/2022 16:02:00 answering member 1526 label Biography information for Greg Hands
tabling member	3985 label Biography information for Robert Halfon

1404317

registered interest
date	19/01/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Oil: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he has made an assessment of the potential merits of establishing a pumpwatch body to monitor petrol and diesel prices to ensure that the prices motorists pay reflect changes in the wholesale oil price.
tabling member constituency	Harlow
tabling member printed	Robert Halfon
uin	107546
answer	answer is ministerial correction date of answer 24/01/2022 answer text <p>The Government believes that it is essential for consumers to get a fair deal when they visit the pumps. The Department actively monitors fuel prices, and its analysis shows that both rises and falls in the price of crude oil reach the pumps within seven weeks. An open and competitive market is the best way to keep prices low; a new regulator is not necessary. If people have evidence of anti-competitive practices in the fuel supply sector, this should be passed onto the Competition Markets Authority.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 24/01/2022 16:02:51 answering member 1526 label Biography information for Greg Hands
tabling member	3985 label Biography information for Robert Halfon

1404318

registered interest
date	19/01/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Oil: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what discussions he has had with the Competition and Markets Authority on the relationship between petrol and diesel prices at filling stations and wholesale oil prices.
tabling member constituency	Harlow
tabling member printed	Robert Halfon
uin	107547
answer	answer is ministerial correction date of answer 24/01/2022 answer text <p>The Department monitors petrol and diesel prices at retail and wholesale levels and conducts periodic assessments of the relationship between these costs. If there is any evidence of market failure at a national level this will be passed to the Competition and Markets Authority. The Competition Markets Authority is not a price regulator and applicable competition legislation does not provide any general powers to regulate either prices or profits. The price or pricing structure that a company or group adopts for a particular product or service is a matter for its own commercial judgement.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 24/01/2022 16:01:08 answering member 1526 label Biography information for Greg Hands
tabling member	3985 label Biography information for Robert Halfon

1404319

registered interest
date	19/01/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Oil: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking to ensure motorists are charged prices for petrol and diesel which reflect the wholesale oil price.
tabling member constituency	Harlow
tabling member printed	Robert Halfon
uin	107548
answer	answer is ministerial correction date of answer 24/01/2022 answer text <p>The Department’s analysis shows that retail prices of petroleum products such as petrol and diesel are primarily driven by the underlying price in the global market of crude oil and by exchange rates. Departmental analysis shows that changes to the price of crude oil feed through to retail prices over the course of 6-7 weeks. The prices are also influenced by a range of other supply and demand factors, including refining capacity, stock levels, logistics and distribution costs and seasonal demand variations.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 24/01/2022 16:03:31 answering member 1526 label Biography information for Greg Hands
tabling member	3985 label Biography information for Robert Halfon

1183778

registered interest
date	09/03/2020
answering body	Foreign and Commonwealth Office
answering dept id	16
answering dept short name	Foreign and Commonwealth Office
answering dept sort name	Foreign and Commonwealth Office
hansard heading	Oil: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Foreign and Commonwealth Affairs, what discussions he has had with his counterparts in OPEC member states on ensuring the stabilisation of the oil price.
tabling member constituency	Bosworth
tabling member printed	Dr Luke Evans
uin	27073
answer	answer is ministerial correction date of answer 18/03/2020 answer text <p>Her Majesty's Government closely monitors the oil market, and assesses its implications for the economy, businesses, and wider geopolitics. This includes the impact of the reduction in oil demand as a result of Coronavirus; the failure of the Organization of the Petroleum Exporting Countries (OPEC) + meeting on 5-6 March to reach an agreement on supply cuts; and Saudi Arabia's subsequent decision to increase oil production and reduce prices. No ministerial level discussions have taken place with OPEC members on the oil market since the OPEC+ meeting.</p> answering member constituency Selby and Ainsty answering member printed Nigel Adams question first answered 18/03/2020 16:35:15 answering member 4057 label Biography information for Nigel Adams
tabling member	4781 label Biography information for Dr Luke Evans

1105657

registered interest
date	27/03/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Oil: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what analysis his Department has carried out on the correlation between changes in crude oil prices and changes in petrol and diesel prices paid by motorist at the pumps.
tabling member constituency	Angus
tabling member printed	Kirstene Hair
uin	237769
answer	answer is ministerial correction date of answer 04/04/2019 answer text <p>The pump prices for petrol and diesel are affected by a number of factors including the oil price and exchange rate. It is important for motorists to be confident that they are being treated fairly, and that when wholesale costs of fuel come down, these reductions are passed on transparently, and without unnecessary delay.</p><p> </p><p>The Government believes this is achieved through effective market competition. In 2013, the Office of Fair Trading found that competition in the road fuels sector was working relatively effectively, although a competition problem was identified in the market for road fuels on motorways, for which action was taken at Autumn Statement 2014.</p><p> </p><p>The Government will continue to make it clear to industry that it expects it to pass any savings that result from lower oil prices onto customers.</p><p> </p><p>The Government has also frozen fuel duty in every year from 2011 to lessen the impact of high fuel prices on households and business costs. By the end of 2019-20, fuel duty will have been frozen for nine successive years, saving the average car driver £1000 compared to the pre-2010 fuel duty escalator plans.</p> answering member constituency Newark answering member printed Robert Jenrick question first answered 04/04/2019 13:59:35 answering member 4320 label Biography information for Robert Jenrick
tabling member	4675 label Biography information for Kirstene Hair

1008461

registered interest
date	16/11/2018
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Oil: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will hold meetings with representatives of the oil industry on the recent reduction in the crude oil price that is not reflected in retail fuel prices.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	192105
answer	answer is ministerial correction date of answer 21/11/2018 answer text <p>Ministers and officials from the Department meet representatives from the oil industry to discuss the United Kingdom downstream oil sector on a regular basis.</p><p> </p><p>The Government believes that it is essential that consumers get a fair deal and that a competitive market is the best way to keep prices low. Fuel pricing is subject to UK competition law under the Competition and Markets Authority. Its predecessor, the Office of Fair Trading last looked at fuel prices in 2013. I expect the retail fuel market to be kept under review.</p> answering member constituency Devizes answering member printed Claire Perry question first answered 21/11/2018 17:25:17 answering member 3974 label Biography information for Claire Perry
tabling member	1409 label Biography information for Mr Gregory Campbell

1005889

registered interest
date	12/11/2018
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Oil: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate he has made of the cost of a barrel of crude oil over the next 12 months.
tabling member constituency	Hendon
tabling member printed	Dr Matthew Offord
uin	190432
answer	answer is ministerial correction date of answer 19/11/2018 answer text <p>Future oil prices are inherently uncertain. In their October 2018 Economic and Fiscal Outlook the OBR assumed oil prices would average 80.2 US dollars per barrel in 2019 based on forward market prices, although oil prices have subsequently fallen in recent weeks. See <a href="https://obr.uk/download/october-2018-economic-and-fiscal-outlook-supplementary-economy-tables/" target="_blank">https://obr.uk/download/october-2018-economic-and-fiscal-outlook-supplementary-economy-tables/</a> (Table 1.9).</p> answering member constituency Devizes answering member printed Claire Perry question first answered 19/11/2018 15:33:08 answering member 3974 label Biography information for Claire Perry
tabling member	4006 label Biography information for Dr Matthew Offord