Fuel retailers have been stung by charges of profiteering, as fuel prices have continued to maintain record levels
at the pumps. Stories in the national press have reported that retailers and oil companies are keeping fuel prices high, despite a 2p drop in the wholesale cost of fuel, which have led to pump-price reductions across Europe.
RMI Petrol, which has worked tirelessly to put the pressures facing the independent fuel retail sector across to both the general public and the government on a number of issues, reacted angrily. Chairman Brian Madderson said the reports suggesting that petrol retailers were profiteering due to erosion of wholesale prices were both incorrect and irresponsible.
"RMIP operates Big Oil, a well-respected daily price monitoring system based on Platts, which provides actual wholesale contracts. This highly accurate and up-to-date system confirms that diesel, which now represents 55% of the UK market for road fuels, has moved steadily upwards by over 2.4ppl since the New Year. Petrol, at only 45% share, has increased just 0.46ppl over the same period.
“Forecourts are closing at the rate of around 400 per year with smaller, but socially vital, rural sites most at risk. Attempts to deflect the impact of relentless Government tax hikes by suggesting that retailers are "profiteering" are ludicrous and unhelpful to an industry sector struggling to preserve jobs, especially in the challenged rural communities.”