Petrol: Prices

(asked on 13th January 2022) - View Source

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

To ask Her Majesty's Government what discussions they have had with petrol retail companies regarding the reported increase in profit margin per litre of petrol; and what assessment they have made of the reasons for this increase.


Answered by
Lord Callanan Portrait
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 27th January 2022

The Department’s officials are in regular contact with the major companies in the fuel supply industry, including those with petrol retail operations, to discuss a range of issues.

This Department’s analysis shows that retail prices of petroleum products, such as petrol and diesel, are primarily driven by the underlying price in the global market of crude oil and by exchange rates.

The Government has kept fuel duty frozen for the twelfth consecutive year, helping the average UK driver save a cumulative £1,900.

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