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

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.

“PRA members have been contending with enormous increases in their operating costs while offering motorists the best deals possible. Costs in the form of energy, national living wage and business rates have all risen sharply, not to mention the record rates of shoplifting and fuel theft.  We have highlighted the detrimental impact of forecourt crime on pump prices to the relevant Government officials, but we are yet to receive confirmation that there will be any enforcement of the law.

“The omission of increased operating costs in their analysis is acknowledged by the CMA in their report, but these are significant contributors to the rise in pump prices.

“We are working closely with the Government as they develop their fuel price transparency scheme which will allow motorists to find the cheapest fuel available to them.

“Our members remain committed to offering their customers the best deals possible. Until the Government’s fuel price transparency checker is introduced, I would advise motorists to use petrolprices.com to find the best deals available.”