The Petrol Retailers Association (PRA) has bought fuel price data supplier BigOil.net. The service, which is totally independent, incorporates the Platts fuel price market data.
PRA director Ray Holloway said: “By finalising the purchase of BigOil.net, the PRA has secured the future of this established service. It provides vital price information to petrol retailers, so ensuring its continued transparency and ease of understanding was a priority for us. The data is already provided in a way that supports retailers in managing the optimum profit performance from their fuel purchases and on-going tracking of achieved margins. However the PRA will be exploring further options for adding new services for users of BigOIl.net and all PRA Members.”
BigOil.net was launched in 2004 by Milford Haven-based company Big Media Group Ltd (BMG), which will continue to work with the PRA on the service. BMG managing director Darren Briggs said BigOil.net had been started with the sole aim of promoting fuel price transparency into the downstream petroleum market.
He added: “Strategically, to be owned by an independent trade organisation such as the PRA is the next logical move for BigOil.net. The PRA represents all independent fuel retailers in the UK and we are delighted to reach this agreement. We look forward to working very closely with the PRA to further develop BigOil.net.”