Consumer Focus calls for lower gas prices

21/11/2008

Consumer Focus has put pressure on the country's gas suppliers to bring down the costs of home heating.

According to the Telegraph, the new consumer watchdog has warned that they will be called to account in the near future unless they choose to bring gas and electricity prices down.

The consumer group is calling for the industry to react to changes in the wholesale oil price, which has fallen by nearly two-thirds since July.

"If companies choose not to cut prices pretty soon, then we call on them to explain why, as their customers will want to know," said Ed Mayo, chief executive of Consumer Focus.

Meanwhile, off-gas customers may soon benefit from lower heating oil prices as the price of oil tumbles.

On the New York Mercantile Exchange, heating oil has fallen by more than two-thirds since July, broadly tracking the tumbling oil price.