| “December’s pump price data is less reliable because it is taken from fuel card transactions, and there have been far fewer of these transactions because of the reduction in business activity between Christmas and New Year. With pump prices falling towards the end of the month, car drivers travelling over the holiday period are likely to have benefited more than these figures suggest.
“While the retail fuel market remains extremely competitive, supermarkets did not use artificially low fuel prices to lure shoppers into their stores at Christmas. The costs of running petrol stations rose all year, with electricity up 19%, vastly reduced margins from fuel cards, increased national insurance and wage inflation. “The latest volume figures as supplied by BEIS (Business Energy and Industrial Strategy) reveal that for most of December volumes were running at 90% of pre pandemic levels, and for week ending 26/12/21 at 78%. When volumes fall and operating costs are rising, it makes sense for fuel retailers to raise margins if they are remain in business to serve their customers.” Gordon Balmer, Executive Director of the Petrol Retailers Association (PRA). |
*Article Source www.rmif.co.uk
