Search Car Reviews



See all makes



Fuel prices: the truth

Independent stations ‘profiteering’ after refinery closure, but major retailers won’t raise prices

Petrol station

By Jon Morgan

06th February 2012

Fuel price hikes in the wake of Britain’s largest oil refinery entering administration are simply profiteering by independent forecourts, industry analysts claim.

The Coryton plant in Essex was forced to halt deliveries for 24 hours last Tuesday after its parent company, Swiss-based Petroplus Holdings, entered administration. Pump prices went up by 0.5p per litre overnight. But while the Retail Motor Industry Federation, the body that represents independent garages, was predicting record high diesel prices going into February, AA president Edmund King told Auto Express that market conditions meant prices should actually have been falling. 

And energy broker EnergyQuote’s lead analyst, Damien Cox, said: “It’s ridiculous to think that Coryton going into administration could have a significant impact on supply. There are contingency plans in place. There will be plenty of product in storage and it can be moved quickly and cheaply.” Major forecourt owners such as Tesco, Asda, Morrisons, BP and Shell said they had not suffered supply issues and prices had not risen. 

So why have average prices across the country increased? Cox said: “I think you can see from past instances of supply problems that there have been attempts to profiteer. There will be unscrupulous businesses looking to take advantage of the news.”

What Next

For more breaking car news and reviews, subscribe to Auto Express magazine. We'll give you 6 issues for £1 and a free gift!

< Previous   Next >

Sponsored Results

2 Comments

Surely not!

Unscrupulous behaviour on the part of fuel companies? I don't believe it.

Next you'll be telling me the government's amaking a fast buck out of it too!

Oh, hang on....

By GTRoyale431 on 6 February, 2012, 4:41pm

Profiteering at motorists' expense?? Surely not!

Independent retailers complain that they are being forced out of business by the dominance of supermarkets who lead the way on reducing fuel prices, then this happens and they can't see the irony of the situation.
Personally, I use whichever supermarket I happen to be passing when I need fuel [yesterday it was Sainsbury's] and would only use a smaller retailer if their fuel is competitively priced.
These companies are taking advantage of motorists but will they be punished? Probably not, unless motorists just stop using them and go where prices are cheaper and if that happens to be your local supermarket, so be it.
The words "reap" and "sow" come to mind.

By n50pap on 7 February, 2012, 9:23am

You need to register to post comments. Existing members can log in below to comment, otherwise click here to join.



Sponsored Results

- Advertisement -

Sponsored Results

- Advertisement -