The PRA has refuted claims by the business secretary Kwasi Kwarteng that fuel retailers are not passing on the cut in fuel duty, made in the Spring Statement at the end of March, “in any visible or meaningful way.”
High fuel prices have depressed sales at Top 50 Indie Ascona Group, according to its managing director Darren Briggs.
The average retail prices of petrol and diesel hit all-time highs yesterday with petrol climbing to 167.64ppl and diesel breaking its record price for the third time in four days at 180.88ppl.
A string of European urea plants restarted AdBlue production in late March, after being taken off line owing to record high natural gas prices.
The European refined products market has entered the new year in a much stronger position than last, as markets begin to return to some normality in 2022 and ‘endemic’ has rapidly become the phrase du jour.
The health of the European refined products market is steadily improving as vaccine roll-outs continue to gather pace and demand slowly returns, but plenty of hurdles remain before the industry can breathe a sigh of relief.
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