Petrol stations sales fall by 2.2%
IBISWorld’s Petrol Stations market research report shows the sector's sales stand at £16bn in Feb 2014 which is down by 2.2% from 2009. There are currently 3,130 sites which employ 44,327 staff. Over the past five years, within this saturated market, operators have tried to navigate through rising oil prices and vigorous competition. Soaring oil prices early in the period led to sharp increases in transport fuel costs and stagnating demand. Although oil and fuel prices declined during the recession, weak activity and fears of future price rises curbed retail fuel sales. Drivers have been gradually switching to more fuel-efficient diesel-powered cars, which has damaged the industry because it means motorists can drive further on less fuel. It's worth noting that a significant proportion of sales to drivers of heavy goods vehicles, buses and coaches are not included in the industry because they often obtain fuel directly from wholesalers. (source: www.ibisworld.co.uk/)
07/Apr/2014 00:00
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