FG TD calls for code of conduct for petrol companies

Fine Gael TD Phil Hogan has called for the introduction of a code of conduct for petrol companies following significant increases in the price of petrol in recent weeks.

Mr Hogan claimed such a code would provide greater transparency on the impact that external factors have on petrol prices.

He also said it would expose the situation whereby oil firms pass on price rises to their customers almost immediately, but withhold the savings they make when the euro appreciates in value against the dollar.