Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the difference in petrol pump prices in (a) June 2022 and (b) 2014; and whether he has made an assessment of the implications of those prices on UK (i) refinery capacity and (ii) refined petrol competition.

In 2014 nominal fuel prices in the UK averaged 127.4 pence/litre (petrol) and 133.5 pence/litre (diesel), compared to average June 2022 prices (to 13/06/22) of 179.0 (petrol) and 187.9 (diesel). The changes in retail prices largely reflect those in traded wholesale prices for the fuels and exchange rates.

The nameplate atmospheric distillation capacity of all UK refineries decreased from 74.6 million tonnes/year at the end of 2013 to 62.3 million tonnes/year in March 2021.

The Government has asked the Competition and Markets Authority to conduct an urgent review of the fuel market, to explore whether the retail fuel market has adversely affected consumer interests.