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Fuel sales at 87% pre-pandemic level: PRA responds to CMA interim report on fuel pricing

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The Petrol Retailers Association (PRA) has said it is “working closely with the Government” on the development of its fuel price transparency scheme as pump prices rise. The PRA responded to the Competition and Market Authorities’ (CMA) recent report on pump prices by drawing attention to its members’ need to operate on “razor thin margins in a highly competitive market,” saying that they are well aware of the need to “keep prices at the pump as low as possible to attract customers and avoid losing them to competitors,” according to Gordon Balmer, executive director of the PRA. In addition to rising costs, fuel sales have fallen to 87% of pre pandemic volumes, according to DESNZ Downstream Oil statistics.

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‘Petrol retailers remain competitive amidst rising costs and declining sales’ – PRA

“Petrol and diesel prices remain volatile as retailers strive to remain competitive amidst rising costs and declining fuel sales,“ said Gordon Balmer, executive director of the Petrol Retailers Association (PRA), commenting on the RAC’s monthly report of UK fuel prices.

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Related news:

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PRA welcomes Government help with energy costs, but warns more support will be needed

Following Prime Minister Truss’s plans to help businesses with energy costs for the next six months, Gordon Balmer, Executive Director of the Petrol Retailers Association, said: “We are pleased to see the Government’s recognition that businesses will require support to survive the winter.

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Bridgestone: Despite favourable TCO, energy prices may affect EV demand

Research from Bridgestone and Webfleet Solutions suggests that high energy prices may dampen fleet demand for electric vehicles. Upon asking 300 fleet decision-makers, 53 per cent responded that they expect this development even though the mobility solutions specialists calculate that going electric will save money over a vehicle’s entire lifespan.

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Kwik Fit: Cost of living crisis affecting most drivers

Results of a survey conducted on behalf of Kwik Fit suggest 69 per cent of motorists have changed their driving behaviour since the beginning of the year. Altered habits include cutting down on ‘non-essential’ car journeys, something 35 per cent of the 2,000 respondents admitted to doing. Drivers of petrol or diesel cars are almost twice as likely to cut down on such trips, with 40 per cent doing so as opposed to 22 per cent of electric vehicle (EV) drivers.

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PRA warns new record fuel prices to be ‘eclipsed’

Brian Madderson, chairman of the Petrol Retailers Association, has warned that record pump prices are almost certain to be eclipsed before the end of October. The current record prices of 142ppl for petrol and 148ppl for diesel were set in April 2012. Experian Catalist UK averages for 19 October were 141.35ppl and 144.84ppl respectively.

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UK petrol prices at an eight-year high

Figures from the RAC reveal that petrol prices in the UK have hit an eight-year high, and are set to continue to rise, as demand outstrips supply. There have been price rises for nine months in a row, with the latest hikes in July being 3.4p for a litre of petrol and 2.4p for a litre of diesel.

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Strong sterling protecting motorists – for now

The Petrol Retailers Association (PRA) has warned independent forecourt operators, that a fall in the strength of sterling could potentially see petrol back to 130ppl in the spring.

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PRA urges chancellor to cut fuel duty in Autumn Budget

The Petrol Retailers Association (PRA) has written to the chancellor of the exchequer urging him to not just freeze, but cut fuel duty by 5ppl in the Autumn Budget this month.

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‘Outlook for UK pump prices uncertain’ – PRA

The recent rise in fuel prices in the UK is likely to see more fluctuation, but predictions suggest that diesel may continue to rise ahead of petrol. “Much of the sharp upswing in the UK wholesale cost of petrol, caused by a big surge of global prices in the immediate aftermath of the hurricane, was absorbed by retailers such that average pump prices only rose by just over 2.0pp,” commented Brian Madderson, chairman of the Petrol Retailers Association (PRA).

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Petrol retailers warn of fuel price increases following Hurricane Harvey

Fuel prices in the UK will rise following the devastating impact of Hurricane Harvey on the Texan coast, according to the Petrol Retailers Association. Brian Madderson, chairman of the PRA, explained that UK wholesale prices had increased immediately as the storm hit the region.

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UK automotive sector reacts to the Queen’s Speech

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It did not take long for various sectors of the automotive industry and aftermarket to voice their reactions to the Queen’s speech at the opening of Parliament on Wednesday. One such reaction came from Brian Madderson, Chairman of The Petrol Retailers Association (PRA). He said: “The PRA has raised concerns directed at the government’s announcement that large retailers and motorway service areas (MSA) will be required to install electric charge points”.

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‘Filling stations should be included in rates concessions’ – PRA

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There are continuing suggestions from government sources that small businesses, especially those embracing ‘hospitality’, will be given concessions on their business rates liability in the March Budget.

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Lowest petrol sales for 25 years in March 2015

The National Franchised Dealers Association has revealed that petrol sales fell 10 per cent in March to a record low of 1.31bn litres. The month followed growth of around four per cent in February, when drivers took advantage of prices 22p per litre lower than the year before.

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