The boss of Asda has warned of “temporary shortages’” at petrol pumps as provides are squeezed by the conflict in the Middle East, which has pushed up common UK petrol prices to above 150p a litre.
Allan Leighton, the manager chair of the grocery store chain, which is the UK’s second largest gas retailer, stated it had been experiencing excessive demand from drivers as gas prices have jumped about over the previous 4 weeks because the war began.
“Our fuel volumes are up quite significantly and clearly demand has been outstripping supply. Supply is tight and we are all trying hard on that,” he stated.
Leighton harassed that the momentary shortages had solely affected “the odd pump” at a small quantity of Asda’s petrol forecourts if prospects arrived when the retailer was ready for a gas supply.
“We can expect to see that continue,” he stated. “The spikiness at the moment makes this tricky for us, as spikes can lead to temporary shortages. These are temporary and are addressed very quickly.”
Petrol and diesel prices have climbed considerably because the US and Israel began their campaign towards Iran on 28 February. Retaliatory Iranian strikes and Tehran’s efficient closure of the strait of Hormuz, a key transport channel, have prevented some manufacturing and transport of oil.
On Friday, the typical value of petrol within the UK rose above 150p a litre for the primary time since May 2024, reaching 150.11p, in accordance with the RAC.
The enhance in diesel prices outstripped that of petrol, the typical reaching 177.68p a litre, the RAC stated.
Before the Iran war began, petrol price 132.83p a litre on common, whereas diesel was 142.38p.
This month, Keir Starmer said the government would “step in” if gas corporations tried to take benefit of the state of affairs and “rip off customers”.
Leighton rejected claims that gas retailers could be “profiteering” from the disaster by elevating their prices, including that Asda’s revenue margin was coming underneath stress from greater gas prices. “People ask where the money is going and the government are getting a lot of money off the back of this,” he stated.
Fuels Industry UK, which represents the sector, stated the provision of petrol and diesel within the UK was “stable”.
“Companies are monitoring the fuel supply situation closely and reporting regularly into the energy department on the status now and for the weeks ahead,” a spokesperson stated. “Supply remains stable in the UK and our members are working hard to ensure that remains the case.”
The Department for Energy Security and Net Zero (DESNZ) declined to remark however is known to be assured that the UK has a various and resilient gas provide.
The world value of oil moved greater once more on Friday, climbing 3.5% to nearly $112 a barrel as Donald Trump’s pledge to carry off from placing Iranian power infrastructure for an additional 10 days did not calm the markets.
The enhance in oil prices is more likely to hold the price of petrol and diesel at the pumps greater within the coming weeks.
That is one thing motorists taking a visit by automotive this Easter will really feel, in accordance with Simon Williams, the RAC’s head of coverage.
“With the long-awaited four-day Easter weekend almost within touching distance, the cost of getting away by car is going to be noticeably higher this year,” he stated. “Drivers on long journeys will need to plan very carefully where they refuel.”
Queues at some petrol stations within the UK had been final seen in September 2021, after a nationwide scarcity of HGV drivers left some forecourts with out provides. Motorists waited in line to replenish at some petrol stations in London and Kent as provide interruptions brought on outages at some websites, regardless of there being no scarcity of gas.
