Five big oil companies, including BP and Shell, are in trouble with the German regulator for over-charging drivers at petrol stations.
Petrol has become a contentious issue for households across Europe as prices at the pump have risen in line with the soaring oil price above $120 per barrel.
By Rowena Mason 6:59PM BST 26 May 2011
The German cartel regulator accused BP, ExxonMobil, Shell, ConocoPhillips and Total of running an “oligopoly” with a stranglehold on 65pc of the market.
The findings, which were vigorously denied by the oil companies, could not come at a more sensitive time for motorists and fuel retailers.
Petrol has become a contentious issue for households across Europe as prices at the pump have risen in line with the soaring oil price above $120 per barrel.
Oil has since gone down by $10 a barrel this month, but this led to only a 0.5p drop in the average price of a litre of petrol in the UK – when the AA calculates the drop should be more like 4p.
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