Forecourt Trader - 30 years at the heart of the fuel retailing community

Perfect storm brewing for fuel prices, says Madderson

06 January, 2011

As fuel prices continue to spiral following the new year’s 1ppl fuel duty hike, 2.5% rise in VAT and rising oil prices RMI Petrol’s chairman Brian Madderson continued to beat the drum of the independent petrol retailer with another high-profile TV interview.

Madderson was interviewed for the BBC Breakfast programme on location at MRH’s BP Alfold Service Station in Cranleigh, Surrey. The interview follows other key live TV appearances on Sky News, and Madderson’s still-unanswered letter to the government calling for a halt to the fuel duty escalator.

Madderson told Forecourt Trader: “The government is not engaging and consulting with the industry at all – that’s my biggest problem. The Coalition is mirroring its predecessor by viewing tax on fuel as soft pickings to boost tax revenue and shore up the nation’s fiscal deficit.

“The duty increase on 1 January and VAT increase on 4 January immediately pushed up average UK retail prices by around 4ppl,” he added. “With cost of product moving up simultaneously, we now have a perfect storm emerging for fuel prices. Daily, new record highs are set for unleaded and diesel could hit also a new high over 133ppl by the end of the month.

“A further duty rise on April 1 of 1ppl plus inflation – and with VAT now at 20% – will force retail prices up by another 4ppl. Cost of product rises due to biofuels scarcity and global crude increases could add 4ppl as well in the next few weeks.

“Unless, we can force the Government to abandon the April duty rise, average UK pump prices could hit 140ppl for diesel and 135ppl for unleaded by Easter.”

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Weekly retail fuel prices: 2 September 2019
RegionDieselLPGSuper ULUL
East Midlands132.1271.23141.73128.82
North East130.66140.60128.17
North West131.39140.18128.47
Northern Ireland129.03134.10126.35
South East132.7358.90141.28129.68
South West131.9563.90140.12128.70
West Midlands131.6066.90140.32129.05
Yorkshire & Humber131.2384.90140.57128.52

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