Threat of oil refinery strike pushes UK pump prices to new highs
23nd March 2008
(Aldershot, UK) Petrol prices across the UK have reached new records, with a 10 day run of all-time highs attributed to the threat of the UK's first oil refinery closure in 73 years.
The threat of closure has led to panic buying at stations in Scotland, price increaces of 5p per litre at some stations, and has been blamed for pushing the price of oil up to a record $119.90 yesterday. It is also partly responsible for the record-breaking pump prices across the rest of the UK too.
The national average for diesel has shot up 2p per litre in the last 10 days, and unleaded has risen 1.1p.
The national average price for a litre of unleaded and diesel in the UK has risen to 108.9p and 118.9p respectively. The cheapest unleaded now costs 103.9p a litre, and 111.9p for diesel.
Around 1000 staff at the Ineos refinery in Grangemough, Scotland, are expected to take part in the 2-day strike on 27th and 28th April after a row over changes to final salary pensions. The refinery has already started shutting down in preparation to make sure the site is safe in time.
The refinery supplies all of Scotland and parts of Northern England, and is the UK's 6th largest refinery producing 200,000 barrels of oil a day. Even closing for 2 days would take the refinery a month to return to normal production.
It was originally thought that this could leave Scotland without fuel for a month, but the government has reassured drivers that it has contingency plans in place to deal with this scenario, including around 70 days worth of fuel supplies which would cover any shortages.
The mere threat of closure has pushed both oil and petrol prices up, across the country not just in Scotland the strike needs to be averted before any further damage is done. Motorists are understandably worried because many people, especially those in rural areas, depend on their car. Unfortunately the worst thing drivers can do is go out and fill up panic buying will only increase the chance of shortages and push prices up.
Any disruptions to the normal fuel cycle will increase pump prices, and instead of filling up and making the problem worse motorists should conserve their existing petrol, if possible, by using alternative methods of transport walking, cycling or trains for short journeys. Most importantly drivers should use PetrolPrices.com to make sure they don't fall victim to profiteering. Prices in Scotland particularly, and across the UK, are likely to increase further if the dispute is not resolved. Drivers need to make sure they are not getting ripped off.
Notes to editors
Petrolprices.com is the only free price comparison website for fuel prices in the UK. It allows consumers to search for the cheapest stations in their area, with potential savings of 15p a litre. PetrolPrices.com has over 2 million registered users, and 87% of 5000 users surveyed in September 2007 claimed the site saves them over £100 per year. As fuel prices rise the potential savings grow because the spread between the lowest and highest prices stations widens.
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Louise Doherty
Spokesperson
PetrolPrices.com
e:
w: www.petrolprices.com
p: 01252 367208