UK government to probe dynamic pricing after Oasis tickets surge

LONDON (Reuters) - Britain's government has said it will investigate how prices for concert tickets sold on official websites are hiked when demand surges, after fans seeking their spot at next year's Oasis reunion shows faced soaring costs over the weekend.

Culture minister Lisa Nandy said it was "depressing to see vastly inflated prices" on sites operated by authorised retailers which she said would exclude some fans from the shows.

The government will include issues around the transparency and use of so-called dynamic pricing - which pushes up the costs when demand is high - in an already planned review of ticket sales and the protection of consumers, she said.

"Working with artists, industry and fans we can create a fairer system that ends the scourge of touts, rip-off resales and ensures tickets at fair prices," Nandy said in a statement late on Sunday.

Another government minister, Lucy Powell who is leader of the House of Commons, told the BBC she bought two tickets for 350 pounds ($460) each from an official retailer, more than double their original face value.

Oasis announced 17 shows in the United Kingdom and Ireland, with the first due to take place in Cardiff in July 2025, followed by nights in Manchester – where the band was formed in 1991 – London, Edinburgh and Dublin.

All the tickets in Britain were sold within around 10 hours on Saturday, after many fans spent the day in online queues.

($1 = 0.7616 pounds)

(Writing by William Schomberg, Editing by Kylie MacLellan)