Showing posts with label Price. Show all posts
Showing posts with label Price. Show all posts

Monday, 26 August 2013

Pump Sales Slump Amid Summer Price Hike

A surge in pump prices led to last month's petrol and diesel sales crashing to winter levels, according to a motoring group's analysis of Government figures.

The AA said drivers bought nearly 1.48 billion litres of petrol in July 2013 - an 8% fall on the June 2013 figure.

This was only 45 million litres more than the record low in February this year and just 11 million litres more than the January 2013 total.

July 2013 sales of diesel were down 5% on June's, dropping  to just over 2.21 billion litres. These figures include commercial usage.

The AA added that in June 2013, when the average cost of petrol levelled at 134.6p a litre after surging to 140.0p in the spring, stable lower prices lifted petrol sales to a level last seen in November 2011.

But last month, a sudden 5p-a-litre rise in wholesale costs raised the average pump price from a low of 133.7p on the last day of June to 135.8p by the middle of July and 137.2p by the end of the month.

It finally started to level off at 137.6p in the first week of August.

Tax income from duty on petrol and diesel sales fell £142m in July compared to June and £35m compared to July 2012, the AA said.

Its president Edmund King added: "It's staggering that when brilliant weather sent consumers into the shops and gave the UK's retail sector a strong boost, the complete opposite happened at the pumps.

Car Motorists have complained of rising fuel prices this year

"Not only are petrol sales shadowing the record lows of this winter, but are lower than last July which included a week of Olympics football, opening ceremony and initial events."

He went on: "It seems that, as each penny increase registers on fuel forecourt price boards, drivers automatically cut back - even if they're in the mood to spend elsewhere."

Meanwhile, a survey of more than 13,500 motorists by What Car? has ranked car dealerships by the service they give owners.

Jaguar, Lexus and Honda topped the list while Fiat, Alfa Romeo and Chevrolet were at the bottom.

Popular makes such as BMW and Audi were in the middle of the 27 marques ranked.

Whatcar.com editor Nigel Donnelly told Sky News: "People have a perception that main dealer pricing can be on the steep side but what we are finding is that dealers now appreciate that retaining that next sale is making sure people have a good experience.

"If you use independent dealers you really want to be make sure they are using quality parts, correct oils and a proper breakdown of what has been done to the car.

"For most people, if it looks like the garage can't look after itself it probably can't look after your car."

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Wind Farm Report Into House Price Blight

An official Government report into renewable energy will reveal for the first time how wind farms affect rural house prices.

Consultants have been brought in by Environment Secretary Owen Paterson to look at whether renewable technologies drive down property values.

The work is part of a wider cross-government study looking at the effect of renewables on the countryside and rural economy.

Its findings will fuel a coalition rift over onshore wind turbines, with Tory MPs already predicting it will reveal "billions of pounds of planning blight".

Energy Secretary Ed Davey has rejected claims his officials are blocking the study amid anger that Mr Paterson is encroaching on his remit.

"My department is not blocking a Defra report on the impact of wind farms," he wrote in a letter to the Telegraph.

"The Government is committed to moving to a secure, affordable, low carbon energy system, without excessively relying on any single technology.

Energy Secretary Ed Davey Ed Davey downplayed any coalition rift

"So, this cross-government study will look at maximising the benefits and minimising the negative impacts of all technologies, including shale gas and nuclear."

The Government stressed the report was a joint project between the Department of Energy and Climate Change (DECC) and Department for Environment, Food and Rural Affairs (Defra).

A spokesman said: "We need to ensure that energy is generated in a way that is sustainable and understand the effects that different technologies have on the environment and on communities across the country.

"DECC and Defra are working together on this report, which is not yet complete, to ensure that it meets the usual standards and quality assurances that you would expect from any Government publication.

"A diverse energy mix is the best way to meet our energy security requirements, our climate change commitments and keep energy bills affordable."

A Defra spokesman added: "It is our role to rural-proof policy. We need to ensure that energy is generated in a way that is sustainable.

"Sustainability includes the economic as well as social and environmental impacts."

Tory MP for Daventry Chris Heaton-Harris claimed one of his constituents had seen their home's value plunge from £700,000 to £250,000 because of wind turbine plans.

But Jennifer Webber, from RenewableUK, told the Telegraph: "All the expert academic research published in this country and abroad over the last few years shows there's no conclusive evidence to suggest that wind farms affect house prices."

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Saturday, 24 August 2013

Pump Sales Slump Amid Summer Price Hike

A surge in pump prices led to last month's petrol and diesel sales crashing to winter levels, according to a motoring group's analysis of Government figures.

The AA said drivers bought nearly 1.48 billion litres of petrol in July 2013 - an 8% fall on the June 2013 figure.

This was only 45 million litres more than the record low in February this year and just 11 million litres more than the January 2013 total.

July 2013 sales of diesel were down 5% on June's, dropping  to just over 2.21 billion litres. These figures include commercial usage.

The AA added that in June 2013, when the average cost of petrol levelled at 134.6p a litre after surging to 140.0p in the spring, stable lower prices lifted petrol sales to a level last seen in November 2011.

But last month, a sudden 5p-a-litre rise in wholesale costs raised the average pump price from a low of 133.7p on the last day of June to 135.8p by the middle of July and 137.2p by the end of the month.

It finally started to level off at 137.6p in the first week of August.

Tax income from duty on petrol and diesel sales fell £142m in July compared to June and £35m compared to July 2012, the AA said.

Its president Edmund King added: "It's staggering that when brilliant weather sent consumers into the shops and gave the UK's retail sector a strong boost, the complete opposite happened at the pumps.

Car Motorists have complained of rising fuel prices this year

"Not only are petrol sales shadowing the record lows of this winter, but are lower than last July which included a week of Olympics football, opening ceremony and initial events."

He went on: "It seems that, as each penny increase registers on fuel forecourt price boards, drivers automatically cut back - even if they're in the mood to spend elsewhere."

Meanwhile, a survey of more than 13,500 motorists by What Car? has ranked car dealerships by the service they give owners.

Jaguar, Lexus and Honda topped the list while Fiat, Alfa Romeo and Chevrolet were at the bottom.

Popular makes such as BMW and Audi were in the middle of the 27 marques ranked.

Whatcar.com editor Nigel Donnelly told Sky News: "People have a perception that main dealer pricing can be on the steep side but what we are finding is that dealers now appreciate that retaining that next sale is making sure people have a good experience.

"If you use independent dealers you really want to be make sure they are using quality parts, correct oils and a proper breakdown of what has been done to the car.

"For most people, if it looks like the garage can't look after itself it probably can't look after your car."

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Wind Farm Report Into House Price Blight

An official Government report into renewable energy will reveal for the first time how wind farms affect rural house prices.

Consultants have been brought in by Environment Secretary Owen Paterson to look at whether renewable technologies drive down property values.

The work is part of a wider cross-government study looking at the effect of renewables on the countryside and rural economy.

Its findings will fuel a coalition rift over onshore wind turbines, with Tory MPs already predicting it will reveal "billions of pounds of planning blight".

Energy Secretary Ed Davey has rejected claims his officials are blocking the study amid anger that Mr Paterson is encroaching on his remit.

"My department is not blocking a Defra report on the impact of wind farms," he wrote in a letter to the Telegraph.

"The Government is committed to moving to a secure, affordable, low carbon energy system, without excessively relying on any single technology.

Energy Secretary Ed Davey Ed Davey downplayed any coalition rift

"So, this cross-government study will look at maximising the benefits and minimising the negative impacts of all technologies, including shale gas and nuclear."

The Government stressed the report was a joint project between the Department of Energy and Climate Change (DECC) and Department for Environment, Food and Rural Affairs (Defra).

A spokesman said: "We need to ensure that energy is generated in a way that is sustainable and understand the effects that different technologies have on the environment and on communities across the country.

"DECC and Defra are working together on this report, which is not yet complete, to ensure that it meets the usual standards and quality assurances that you would expect from any Government publication.

"A diverse energy mix is the best way to meet our energy security requirements, our climate change commitments and keep energy bills affordable."

A Defra spokesman added: "It is our role to rural-proof policy. We need to ensure that energy is generated in a way that is sustainable.

"Sustainability includes the economic as well as social and environmental impacts."

Tory MP for Daventry Chris Heaton-Harris claimed one of his constituents had seen their home's value plunge from £700,000 to £250,000 because of wind turbine plans.

But Jennifer Webber, from RenewableUK, told the Telegraph: "All the expert academic research published in this country and abroad over the last few years shows there's no conclusive evidence to suggest that wind farms affect house prices."

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Tuesday, 20 August 2013

Petrol Price Warning As Retailers Forecast Hikes

Fuel prices are set to rise by as much as 5p a litre, according to the Petrol Retailers' Association (PRA).

It comes amid civil unrest in Syria and Egypt as well as a reduction in Libya's oil exports, which are down by a third.

The PRA's forecast follows a rise in Brent crude oil, which pushed past the $110 a barrel mark last week, a 10% increase since the end of June.

Goldman Sachs Group has also predicted that oil prices could go up to $115 a barrel in the 'very near term'.

Brian Madderson chairman of the PRA said: "UK petrol prices have not yet seen the full impact of this crude oil increase due to the rapid and slightly unexpected revaluation of pound sterling from $1.48 to $1.56.

"Therefore it was concerning to read recent comments from the City that the 'pound is overblown' and will soon come hurtling down towards the $1.45 level."

He added: "We calculate at current wholesale prices that this will add a further 5p per litre at the pump before the end of September and hit businesses and households in the pocket at a time when pundits are forecasting a continued increase in retail sales to drive growth in the economy. 

"Should the Middle East tensions escalate further and crude oil prices react accordingly, the Bank of England’s new inflation targets could be significantly challenged.

"The sooner the EU Competition investigation into allegations of oil price fixing is completed, the more certain we can be that our retail fuel prices are only being influenced by macro-economic and political factors and not anti-competitive actions of the oil companies."

The average price of petrol across the UK is currently £1.37 a litre, according to Experian Catalist.

The PRA explained that if its predictions are right and prices rise, it will be fast approaching the record high of £1.42 a litre, which the nation saw in April.

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