Category Archives: Motoring News

Was the petrol price rigged, too?

July 18, 2012   simon

Hot on the heels of the LIBOR scandal (or Lie-bor, as some call it), comes news that the price of oil may not be truthfully set either. The G20 organisation which represents the 20 largest economies in the world (the UK is currently ranked at No. 7) asked the International Organization of Securities Commissions (IOSCO) to look into the oil reporting market. The initial report says the current system of oil price reporting is “susceptible to manipulation or distortion.”
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M25 to open the hard shoulder

July 17, 2012   simon

A large section of the M25 in Kent and Surrey will see its hard shoulder converted to become an extra lane, probably in 2014. The 15 mile stretch, between junctions 5 and 7 (Sevenoaks to the M23 junction) is a congestion blackspot at present, especially where traffic from Kent and the Channel Tunnel on the M20 merges with the M25 towards Gatwick and the west. According to the Highways Agency, there will be a consultation process, and then work will start in around 18 months time.
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Local speed limits to be reduced?

July 17, 2012   simon

Local councils are to be given more powers to introduce 20 mph zones in towns and also to reduce rural speed limits from 60 mph to as low as 40 mph. Road Safety Minister Mike Penning said: “It is vital that speed limits are suitable for local conditions and councils are best placed to determine what these limits are, based on local knowledge and the views of the community.
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AA says 14,000 cars damaged by floods

July 15, 2012   simon

It seems an amazing number, but the AA should know. Apparently 14,000 cars have been either severely damaged or written off because of the recent bad weather. The AA says motor insurers (i.e. our renewal premiums) face a £35m repair bill, given an average claim of £2,500.
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Autocar Competition – win a job, not a car

July 14, 2012   simon

Autocar is running a competition for young people, with the prize of five work experience placements, £7500 cash – and the near-certainty of a good job in the car industry at the end of it. The competition is timely, given that the majority of people in work believe that it is now much harder for young people to enter the job market than it was when they joined.
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