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).
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.
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”.
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.
Petrol retailers across the UK are doing everything in their power to hold down pump prices as the summer driving season continues after the Easter holidays, said the Petrol Retailers Association (PRA).
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.
New research from Go Ultra Low has shown that commercial vehicle operators and fleet managers are missing out on a share of more than £2.6 billion potential fuel savings, accessible by opting for an ultra-low emission van.
AA research reveals that the UK continues to levy the highest level of road fuel tax in the EU – despite four years of a fuel duty freeze. Analysis of road fuel tax levels in Europe shows that, despite UK fuel duty being frozen at 57.95p since March 2011, drivers in this country still pay the biggest chunk (69 per cent) per litre than those in other European countries.
“This week the Chancellor of the Exchequer George Osborne, once again exhorted oil companies and retailers to pass on the full benefit of reducing crude oil prices to motorists and businesses”, said Brian Madderson, chairman of the Petrol Retailers Association.
Bigger, less efficient engine cars could make a return in both the new and used markets thanks to falling fuel prices, predicts Glass’s. With pump prices at their lowest since 2009 and a general increase in consumer confidence apparent, buyers are much more likely to consider buying a gas guzzler.
Our review of the year at the end of last year, pointed out how many sources had expected better times for the tyre retail market in 2014. Now as we move forward into 2015, Tyres & Accessories examines the current case for the demand recovery in the market. Many of the wider economic indicators point to broad economic recovery. At the same time pay is rising and inflation is levelling off at around 1 per cent, meaning household incomes should be rising. Furthermore fuel prices are lower than they have been for years. And of course, all this should lead to greater tyre sales volumes and even improved product mix. It is customary to be positive and even optimistic at this time of year, wishing everyone a happy new year etc, but the question remains with regard to our tyre market predictions – will it?
The RAC is urgently calling on fuel retailers to pass on further savings in the wholesale price brought about by the continued fall in world oil prices. This overdue cut would reduce the biggest cost of motoring just in time for Christmas, says the organisation. The RAC’s monitoring of fuel prices shows there is scope […]
UK Motorists are being fleeced on average by approximately £5 each and every time they fill up their vehicles. FairFuelUK estimates that’s the amount not being passed on at the pumps to consumers following the biggest and most sustained period of falls in oil prices in recent memory.