Fleet News

Fuel retailers refute profiteering claims

Petrol retailers have defended their position over the delay in reducing pump prices despite a fall in the cost of oil.

The price of a barrel of oil has been fluctuating widely, rising and falling by more than £13 in a day.

However, over the past few weeks, there has been an overall fall in the price.

“Prices for crude oil and forecourt fuel are obviously linked but they do not move in tandem.

"Therefore they do not automatically move up or down at the same time,” said Ray Holloway, director of the Petrol Retailers Association.

“Between 1 August and 12 September, the price of a barrel of crude oil fell by 20.1%.

"In the same period the cost of petrol supplied to retailers did not change.”

Mr Holloway said the price of fuel will decline during the autumn: “UK motorists can expect forecourt prices to fall though until the end of October.”
 

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee