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Founded in 1909 in Ohio, Platts provides energy and metals information and benchmark price assessments. McGraw-Hill bought it in 1953. Authorities raided the London bureau of Platts in Canary Wharf and the offices of Statoil, Royal Dutch Shell and BP in May 2013 in the biggest trading probe since the Libor scandal.
- The cost of land on which petrol filling stations are built has risen by over 400 per cent in the last 10 years
- Fuel retailers say there are a range of factors for the delay in lower prices to be reflected at the pump, including high inventory levels, government tax, salaries and land costs