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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

171129

registered interest
date	17/12/2014
answering body	Department for Energy and Climate Change
answering dept id	63
answering dept short name	Energy and Climate Change
answering dept sort name	Energy and Climate Change
hansard heading	Oil: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Energy and Climate Change, what discussions his Department has had with petrol retailers to ensure that changes in the cost of oil are reflected in the retail prices of petrol; and if he will make a statement.
tabling member constituency	Hendon
tabling member printed	Dr Matthew Offord
uin	219137
answer	answer is ministerial correction date of answer 08/01/2015 answer text <p>The Government believes that it is important that consumers get a fair deal and that falls in oil prices are passed on to lower prices for motorists. We wrote to major fuel retailers on 7 November seeking reassurance that they were fully passing on changes in the oil price to UK consumers at pumps in full and as quickly as possible.</p><p>The Department regularly meets petrol retailers and their representatives, and closely monitors pump prices, publishing data regularly:</p><p><a href="https://www.gov.uk/government/statistical-data-sets/oil-and-petroleum-products-weekly-statistics" target="_blank">https://www.gov.uk/government/statistical-data-sets/oil-and-petroleum-products-weekly-statistics</a>.</p><p>In January 2013, the Office for Fair Trading published the results of a Call for Information which found no evidence that oil prices rises are passed on to motorists more quickly than price falls.</p> answering member constituency West Suffolk answering member printed Matthew Hancock question first answered 08/01/2015 17:51:17 answering member 4070 label Biography information for Matt Hancock
tabling member	4006 label Biography information for Dr Matthew Offord