"FairFuelUK analysis of fuel price reports from across the UK shows that, since 3 March, more than 230 supporters have recorded average petrol increases of 8.7p per litre and diesel increases of 12.6p per litre. Of these, 135 reports indicate the hikes were applied to existing forecourt bulk stocks, raising concerns about rapid, widespread pump-price rises even before new deliveries to these forecourts."
"As we write this, Brent Crude has fallen from $103 to $89 per barrel. I predicted that when Brent crude rose to $80-$90, prices would increase by 5-10p per litre. It appears my reports from around the UK have indeed come true, but fuel prices continue to rise even further despite the latest huge drop in oil prices. It strongly suggests profiteering, with the major culprits in the fuel supply chain being the large branded oil companies."
"I call for FairFuelUK's PumpWatch to be rigorously and legally implemented. We will continue to see punitive hikes whilst this oil supply crisis grows, as the secret pump pricing algorithm in the Fuel Supply Chain, that makes no logical sense to anyone, will be ruthlessly exploited yet again by greedy opportunists."
FairFuelUK analysis reveals over 230 supporters recorded significant fuel price increases since March 3rd, with petrol rising 8.7p per litre and diesel 12.6p per litre. Notably, 135 reports indicate these hikes applied to existing forecourt stocks before new deliveries arrived. Brent crude oil fell substantially from $103 to $89 per barrel, yet fuel prices continued rising, contradicting normal market dynamics. This disconnect strongly suggests profiteering by major branded oil companies. FairFuelUK demands transparency from retailers and regulators regarding pricing justifications. The organization calls for implementing PumpWatch to regulate pump pricing, freezing fuel duty, and implementing a temporary 10p per litre fuel duty cut to combat inflation and protect economic growth.
Read at London Business News | Londonlovesbusiness.com
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