Crude-oil and petroleum products: information and consultation on supply costs and consumer prices

OBJECTIVE: to improve the procedure for information and consultation on the costs of crude oil and petroleum products. CONTENTS: the proposal of the European Commission seeks to repeal Directive 76/491/EEC and replace it with simpler legislative provisions. It is proposed to: - maintain a simplified system of information on overall crude oil supply costs and the consumer prices of petroleum products; - give a legal basis to the "petroleum bulletin", a weekly publication which has helped to improve the transparency of prices of petroleum products on the various Community markets.�