UK Fuel Prices Soar as Shell Announces Higher-Than-Expected Profits

As Shell announced its financial earnings for the last year, it was revealed that fuel prices in the UK have risen by 10p per litre.

Fuel Price Increase

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The latest data reveals that the average prices of petrol and diesel have surged by 10p per litre since the beginning of the year.

April Price Hike

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In April alone, the average price of petrol rose by 3p to 150.0p per litre, according to the RAC.

Concerns Over Diesel Prices

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The RAC also highlighted concerns over diesel prices, noting a 2p per litre increase in April, bringing the average to 157.8p.

Unfair Fuel Increase

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In a statement, the RAC insisted that customers were being overpriced for fuel and called the increase “unfair.”

Cost of Living

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Fuel spokesperson at RAC, Simon Williams, said that due to the increase, drivers are finding it increasingly difficult to afford to live their normal lives.

Drivers “Digging Deep”

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“Drivers are once again having to dig deep just to go about their daily lives,” said Williams before revealing the extent of the issue.

Petrol and Diesel Increase

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According to Williams, “petrol and diesel have now gone up 10p a litre so far this year on the back of further increases in April of 3p and 2p respectively.”

Economy a Factor

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Williams puts some of the blame on the current economic state in Britain, arguing that the pound-to-dollar exchange rate is affecting the cost.

Pound-To-Dollar Too Expensive

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“Some of this is down to the oil price and the pound-to-dollar exchange rate making wholesale petrol more expensive for retailers to buy,” Williams insisted.

Companies Report Vast Profits

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Despite this being a factor, Williams also noted the vast profits being made by oil and energy companies in the UK and globally.

Retailers Making “Massive” Profits

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“It’s also very apparent that retailers are making massive margins on diesel,” Williams revealed. This came shortly after Shell announced its quarterly results.

Shell Exceeds Margins

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Shell recently announced its staggering profits made throughout the last financial year, which exceeded its forecast by some margin.

Shell’s Profits Revealed

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Shell announced it profited by a massive $7.7 billion as fuel prices across the globe continue to rise.


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Shell’s CEO, Wael Sawan, insisted that the recent quarterly sales announcement showed a “strong operational and financial performance.”

Shell’s Sustainability in Focus

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Sawan insisted that the rise in profits showed how dedicated the fossil fuel company is to providing sustainable energy solutions.

More Value, Less Emissions

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According to Sawal, the results showed Shell’s “continued focus on delivering more value with less emissions.”

Ahead of Targets

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Although profits didn’t exceed the $9.6 earned the year before, the $7.7 billion this year was still way ahead of what was expected.

An Extra $1.3 Billion

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Analysts predicted Shell to earn just $6.46 billion over the last year, showing that the company earned almost $1.3 billion more than expected.

Call for Regulatory Action

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The RAC urged the Competition and Markets Authority (CMA) to address the disparity within fuel retailing, advocating for fairer pricing for consumers.

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The post UK Fuel Prices Soar As Shell Announces Higher-than-Expected Profits first appeared on Edge Media.

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Oscar Davies, an expert in US and UK politics and sports, is renowned for his sharp and engaging writing style, appealing to a broad spectrum of readers.

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