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Fuel Sales Impacted By Ever Increasing Costs
October 4, 2012
British petrol sales have dropped significantly this year - according to official figures released by the Department of Energy and Climate Change.
According to the study 500 million fewer litres of petrol (10.6%) were purchased between April and June 2012 when compared to the same time the year before.
With other costs taking their toll on young drivers - including road taxes and young drivers’ insurance the study suggests that many are trying to lower the amount they're paying out by reducing the number of journeys they're undertaking, in turn reducing fuel consumption.
Whilst panic buying hit petrol stations in the first three months of the year, witnessing an increase of 120 million litres, official figures still suggest that fuel companies are being hit thanks to the ever increasing costs of petrol and diesel.
For example, when compared to the last pre-recession data - in the first 6 months of 2008 - fuel sales were down by over 2 billion litres this year - a substantial impact.
The AA President Edmund King has said that the fuel industry has continued to squeeze as much money out of recession hit consumers as possible. He believes that price transparency is essential to "ensure and show drivers that they are getting a fair deal at the pump."
Meanwhile the Office of Fair Trading (OFT) continues their much welcomed investigation into petrol and diesel prices.