All PRA articles – Page 21
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News
PRA urges members to act over rural rebate
The PRA is urging retailers to respond to a request for evidence from the HM Treasury as the Government prepares to ask the European Commission for an extension to the rural fuel rebate scheme. The Treasury is asking petrol retailers around the UK to send them information relating to charges ...
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News
Prices on the rise again, warns PRA
Fuel prices throughout the UK are on the rise again, the PRA has warned, as global political and economic pressures take their toll on the cost of crude oil. The civil unrest in Syria and Egypt, the reduction by one third in Libya’s oil exports and the demand for oil ...
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News
Top indies share best practice at ACS seminar
Top 50 indies Patrick Sewell of Sewell Retail and Jeremy Clarke of Motor Fuel Group shared their philosophies on running a petrol retail business at the annual Forecourt Seminar organised by the Association of Convenience Stores and Petrol Retailers Association.Record numbers attended the event at the King Power Stadium in ...
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News
PRA warns about surge in prices
Prices for petrol could surge up to 140 pence per litre (ppl), with diesel rising to 144ppl, due to currency fluctuations pushing up wholesale fuel prices, the PRA has warned.PRA chairman Brian Madderson said: "The unexpected crash in the exchange rate for the Pound against the US Dollar, from US$1.58 ...
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News
PRA welcomes plan to extend rural fuel rebate
The PRA has welcomed moves by the Treasury to extend the rural fuel rebate scheme. The Treasury has announced that it plans to seek permission from the European Commission to extend the scheme, which currently provides a 5 pence per litre (ppl) rebate to retailers in the Scilly Isles, the ...
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News
AA report supports PRA warning on price hike
The PRA’s warning last week that petrol prices were set to surge up to 140 pence per litre (ppl), with diesel going up by the same amount, has been supported by the latest AA Fuel Price Report. It said a $100-a-tonne increase in the cost of wholesale petrol across north-west Europe, combined with a weaker pound, heralds a potential 5p increase in pump petrol costs. And it added that with average UK petrol prices up from 134.61p a litre in mid June to 135.78p now, more than a penny has already fed through to the pump. However, it claimed the average hid a wide range of pricing, with some petrol stations having already passed on the full increase in costs, while two supermarkets were cheaper on average than a month ago. Diesel prices, which averaged 139.16p a month ago, have also risen more than a penny to 140.24p, but wholesale prices in north-west Europe have risen less than petrol, with an increase of around $40 in the past fortnight. The AA said that the fall in the value of sterling versus the dollar had added about 1.5ppl to the wholesale cost of petrol, but it said much of the rest of the increase was due to the action of oil and fuel market speculators. AA president Edmund King said: “Last week’s OPEC oil market report painted a picture of improved summer petrol consumption in the US and Europe, but stocks remain significantly larger than last year – 9.3% up in north-west Europe. The report refers to ‘slack demand in Europe and a slow start to the US summer driving. “OPEC summarises the gasoline market in the Atlantic Basin as ‘losing ground due to limited demand on the Atlantic Coast which has not so far provided the strong boost that was seasonally expected’. And therein lies the rub – market speculation versus consumer reality. “US regulator data shows that betting on rising oil prices is at its highest since May 2011 – and we all know how that ended, oil crashing from $125 to $108 a barrel in June. Meantime, UK petrol consumption fell more than 5% as cash-strapped drivers cut back and RPI inflation was running above 5%. “After the price of petrol stabilised at around 134.6p a litre through much of this June, and weeks were filled with beautiful weather and sporting excellence, it was perhaps inevitable that oil and fuel market speculators would cast a black cloud over what was promising to be a glorious summer.” To see last week’s PRA price warning click here
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News
PRA warns fuel prices are soaring up
Prices for petrol could surge up to 140 pence per litre (ppl), with diesel rising to 144ppl, due to currency fluctuations pushing up wholesale fuel prices, the PRA has warned. PRA chairman Brian Madderson said: “The unexpected crash in the exchange rate for the Pound against the US Dollar, from ...
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News
New head of petrol at PRA
The Retail Motor Industry Federation (RMI) has announced the appointment of Richard Chadderton as the new head of petrol for the PRA. He commenced the role on Monday 8 July and will be based at the London head office in Great Portland Street. Chadderton has more than 30 years experience ...
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News
PRA warns over card charges
The PRA has warned that rising charges for processing card payments are threatening the future of many petrol filling stations, and has called on the government to take urgent action. Plastic accounts for up to 50% of all UK retail business but this has now accelerated to an average of ...
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News
PRA calls for tougher action over illicit fuel
The Petrol Retailers’ Association has expressed concern over the rise in availability of illicit fuel and has called on Government to take action after HM Revenue & Customs announced a rapid increase of illicit fuel detections.The number of detections in Great Britain have increased by 132% over the past four ...
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News
PRA rebukes AA over claims of profiteering
The PRA has angrily hit back at claims by the AA that dealers are profiteering on the price they charge for diesel.The AA claims that differentials between the wholesale and retail price of diesel, compared with petrol, suggest retailers are "creaming up to £1 a tank extra off diesel car ...
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News
Top 50 Indies share best practice at annual forecourt seminar
Top 50 indies Patrick Sewell of Sewell Retail and Jeremy Clarke of Motor Fuel Group shared their philosophies on running a petrol retail business at the annual Forecourt Seminar organised by the Association of Convenience Stores and Petrol Retailers Association. Record numbers attended the event at the King Tower Stadium ...
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News
Londis launches best practice initiative
Londis has launched The Londis Family, a retailer initiative designed to help Londis retailers share best practice and ideas to help grow their businesses. Consisting of three new programmes - Cluster Families, the Londis Mentor Scheme and Londis Voice - the initiative aims to help retailers address the economic challenges ...
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News
PRA hits back at AA profiteering claim
The PRA has angrily hit back at claims by the AA that dealers are profiteering on the price they charge for diesel. The AA claims that differentials between the wholesale and retail price of diesel, compared with petrol, suggest retailers are “creaming up to £1 a tank extra off diesel ...
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News
ACS & PRA co-host July 4 forecourt seminar
Essential insights into the most effective ways for fuel retailers to succeed in a competitive market will be the prevailing theme at this year’s Forecourt Seminar, which takes place on July 4 at the King Power Stadium in Leicester. The event is co-hosted by the Association of Convenience Stores and ...
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News
PRA offers its services to price-fixing investigation
The PRA has offered to submit evidence to the European Commission on alleged anti-competitive pricing tactics in the UK fuel market.The move followed raids on three oil companies and oil market data specialist Platts, by agents investigating allegations of oil-price fixing (see news extra, page 10).In a letter to Alexander ...
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Analysis
Brian Madderson: chairman PRA
In March 2012, Bloomberg reported that a commission appointed by the G20 nations’ finance ministers called for stricter regulation of price-reporting agencies (now confusingly referred to as PRA by the media) to prevent the manipulation of oil markets. At that time, a consultation document published by the International Organisation of ...
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News
Praise for BigBrother
The latest version of the BigBrother CCTV security system, which was launched by WashTec at The Forecourt Show in April, is already making a mark on forecourt crime the company claims.The system was installed at the Thanet Way Services, where the owner George Hammond plc has recently carried out a ...
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News
PRA calls for Government action on illicit fuel
The Petrol Retailers’ Association has expressed concern over the rise in illicit fuel detections and has called on Government to take action. This week HM Revenue & Customs announced a rapid increase of illicit fuel detections. The number of detections in Great Britain have increased by a staggering 132% over ...
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News
PRA to hold forum in Wetherby
The PRA’s next Regional Forum is being held in Wetherby, West Yorkshire, on Wednesday 12th June. The event is taking place at Wetherby Racecourse, with coffee available from 10am, and a free buffet lunch will be provided. Topics on the agenda include: PRA – Deloitte study into UK fuels market ...