Was the petrol price rigged, too?

Updated


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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