UNITED KINGDOM, February 21, 2022 /EINPresswire.com/ -- MPs demand to know why Motorists & the Haulage Industry, so vital to the economy, have been paying excessively high prices for petrol and diesel in a time of cost-of-living uncertainty.
The APPG for Fair Fuel for Motorists and Hauliers have written a letter to UK Oil Companies and Fuel Supply Chain Businesses to ask them to explain why in 2021 their petrol and diesel profits per litre were much higher than in previous years. (See letter attached)
* With BP and Shell both reporting fortunate huge profits because of the high price of oil, UK’s 37m drivers are suffering significant and real hardship every time they fill up at the forecourts.
* An average family car is costing well over £80 to fill up and all the geopolitical signs
* In December 2021, FairFuelUK reported that pump prices were 30p per litre more expensive than the previous year, yet the wholesale costs of petrol and diesel were up, just 18p.
* The RAC supports FairFuelUK analysis that even allowing for market increases in margins and distribution costs, the world’s highest taxed drivers in the UK were paying up to 10 pence per litre more than needed in recent months.
* The APPG has also offered an olive branch to fuel supply chain executives to meet with MPs to discuss and to help in the implementation of an independent ‘voluntary’ watchdog process to ensure pump pricing is fair and transparent for consumers. It will be interesting how many of these businesses take up the offer to attend.
* An Independent Pump Price Monitoring Body to protect Consumers called PumpWatch is overdue. 9 out of 10 FairFuelUK’s 1.7m supporters want such an impartial body created, just like our consumer watchdogs Ofgem, Ofcom and Ofwat, to protect drivers every time they fill up, as and when oil prices vary.
* PumpWatch is crucial to the Nation’s positive economic growth, jobs, business investment, logistics, consumer spending and social mobility. This Conservative Government needs it in place now, to help regain trust and to avoid long-term voter repercussions.
Vice Chair of the Fair Fuel APPG, Robert Halfon MP says: “Hard working motorists are being taken for a ride by greedy oil companies. Despite the Government's very welcome 12-year fuel duty freeze, prices at the pumps are soaring, whilst oil companies are making excessive profits. We need answers from the industry as to why this is deemed acceptable.”
"Soaring fuel prices do not just impact motorists at the pump, but transport costs, public service bills and most worryingly, inflation as a whole. Our economy is facing levels of inflation that we have not seen in decades and these excessive price grabs, only force that up further.”
"We need a Pumpwatch monitor now to stop greedy oil companies taking motorists for a ride and to ensure fair prices at the pumps for hard working people across the country."
Here is my EDM calling for PumpWatch: “: https://edm.parliament.uk/early-day-motion/59364/campaign-to-introduce-a-pumpwatch-body-for-fair-fuel-prices
Chair of the Fair Fuel APPG, Craig Mackinlay MP Says: “A PumpWatch monitor similar to Ofwat or Ofgem could ensure that reductions in oil prices are properly passed on to motorists at the fuel pump. It is unjustifiable that motorists continue to be over-charged for their fuel during a period of rapidly rising inflation across the board.”
“HM Treasury could also help by using the VAT windfall being derived from high current pump prices. The cost-of-living crisis is already proving incredibly painful for many and sanity needs be restored to petrol pricing as quickly as possible."
Howard Cox, Founder of FairFuelUK and Secretary to the FairFuel APPG says: “In all of our lives we depend on energy, water, and telecoms. And just as importantly, what we use, consume, buy, medically, socially and workplace demand, are ALL crucially dependent on road transport. When expert financial commentators announce inflation has changed, almost without exception, pump prices are cited as a major contributor to the monthly CPI cost-of-living indicator. With inflation now at a high 5.5% and almost entirely driven by rocketing pump prices, its impact on the economy is more than profound.”
“Traditionally supermarket chains, have always come to rescue motorists, when the profiteering wholesalers routinely hike retail fuel prices. The big 4 led by Asda normally bring some pricing sanity to our forecourts. But unexpectedly, something has changed and changed detrimentally for motorists! The Euro Garages takeover of Asda and the US firm CD&R wining the £7bn auction for Morrisons - who have both, to now, been classed as lower priced fuel stations - are not dropping our fill up costs to levels we have always come to expect when oil prices hurt. And by heck they are hurting now!”
“FairFuelUK estimates that the Treasury is wallowing in an extra £2bn VAT bonanza because of the eyewatering pump prices. That is equivalent to 6p in a potential cut of Fuel Duty, without impacting on the normal gross fuel taxation of motorists to the Exchequer. A cut in the fuel levy for the world’s highest taxed drivers is morally the right thing to do.”
“Pump pricing greed has been allowed to be rife for a generation. It’s time the Government implemented PumpWatch, initiated a CMA investigation into greedy fuel supply chain profiteering and Cut Fuel Duty too. Why the hell are they not doing at least one of these actions, all called for by millions of drivers and voters?”
Click here for Letter to UK based Oil Companies, Fuel Wholesalers and Supermarkets sent by APPG and is also is downloadable at: https://fairfueluk.com/Pumpwatch-Letter-From-APPG.pdf
Background: Since 2011 the APPG for Fair Fuel for UK Motorists and UK Hauliers has examined major issues that impact on UK drivers. Along with FairFuelUK, it has been a major influencer on keeping Fuel Duty frozen since 2011. As well as fuel taxation, other issues addressed by the APPG that impact on drivers, have included congestion charges, ULEZ/CAZs, parking costs, roads investment, unfair treatment for fossil fuelled vehicle owners, solutions to lower emissions, cleaner fuel incentives, alternative technology options and transparent pricing at the fuel pumps with a continual call for PumpWatch. With the expected decline in Fuel Duty revenue, the APPG will also formulate a long-term approach to the future of road taxation and a positive transport strategy for all road users. https://fairfueluk.com
Since 2010 FairFuelUK has saved drivers over £110bn in planned tax hikes in duty and VAT through constructive and objective campaigning. Had FairFuelUK not campaigned to scrap the fuel duty escalator, fuel tax today would be 90p/lt rather than 57.95p/lt. Today we would be paying £1.80+ per litre at the pumps had FairFuelUK not fought for the World's highest taxed drivers. Because of the Campaign, inflation is down 6.7% and £24bn has been put back into consumer spending each and every year since 2011.
FairFuelUK is a public affairs team with no shareholders to satisfy, just an award-winning campaign representing the real concerns of hard-working motorists, families, small businesses, commercial drivers and hauliers across the UK. Decades of fiscal exploitation by successive Governments with little in return, warrants the need for FairFuelUK.
For 12 years, this award winning campaign is funded by the RHA, and previously by Logistics UK and other respected organisations, 1.7m supporters and 146 MPs . FairFuelUK is fronted by the Campaign's Founder Howard Cox. Funding is through support from key founding backers the FTA (Logistics UK), RHA and regular donations from supporters. Previous backers have included the RAC, Association of Pallet Networks, UKLPG and many others.
Howard Cox
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