OIL PRICES

That this House notes that since May 2015 oil prices have fallen by over 55.8 per cent and yet petrol pump prices have fallen just 26.9 per cent and diesel 34.6 per cent; further notes that reduced fuel prices, in line with the falling price of oil, would be of great benefit to households and businesses alike; and calls on the Government to work closely with the Competition and Markets Authority to ensure that savings are being properly passed on to customers at the pump.