Cheaper petrol possible as OFT launches price review The OFT will be gathering information over the next six weeks, and plans to publish its findings in January 2013. The UK retail road fuels sector is estimated to be worth around £32bn. Petrol prices rose by 38pc between June 2007 and June 2012, and diesel prices by 43pc over the same period, the OFT said. In February this year, the OFT received a submission from the Retail Motor Industry Federation, which raised concerns about the ability of independent fuel retailers to continue to compete in the market. David Bizley, the RAC's technical director, said: "Anything that brings transparency to fuel pricing is very welcome. Most motorists are very aware that fuel prices go up far faster than they ever come down, so it is a very positive move that the OFT is seeking to clarify the situation once and for all. Rising fuel prices cause economic hardship for millions, particularly in rural areas, and hinder the growth of the economy, so this really is news that motorists would like to have had a long time ago.