Asda’s CEO has denied allegations that merchants are leveraging skyrocketing oil prices to increase their own profits, following Friday’s little increase in petrol prices. For the first time in almost two years, the average price of a liter of petrol surpassed 150p, with diesel surpassing 177p, just one month after the US and Israel attacked Iran.
Fuel costs are still rising as a result of the crisis, although they are still lower than they were following Russia’s invasion of Ukraine, according to RAC data. Filling a normal family car with unleaded gasoline now costs over £82, £9.50 more than it did a month ago. At almost £97, a tank of diesel costs £19 more.
Allan Leighton, executive chairman of Asda, responded to claims that forecourts had profited from the crisis by accusing ministers of “pointing the finger” at retailers. Additionally, he added that some areas’ fuel supply were being impacted by the violence, with a few pumps being shut down due to high demand.
According to Leighton, Asda, the second-largest gasoline retailer in the UK, has not shuttered any forecourts due to the conflict and anticipates that any impacted gas stations will be operational until its next delivery.Our fuel volumes have increased considerably, and it is evident that demand has exceeded supply,” he stated.
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