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Northern Ireland has second least affordable pump prices in UK

Linda Stewart — Thu, 30 Jun 2022 09:47:06 +0000

Drivers in Northern Ireland have the second least affordable fuel prices in the UK, according to a new analysis of data by energy experts Boiler Central.

They used data from the Office of National Statistics (ONS) and Experian to calculate the cost of petrol against average weekly wages in each of the UK’s 12 regions.

Drivers in the North East emerged worst off, set to spend more of their weekly wages on petrol than anywhere else in the UK – despite having the lowest average cost for a full tank at £100.83 – due to lower average wages in the region.

Northern Ireland has the second least affordable fuel in the country, with residents paying an average of 16.73 percent of their weekly wages on petrol.

At £101.71 for 55 litres when the analysis was carried out, petrol was slightly more expensive in Northern Ireland than it was in the North East, while Northern Ireland has the second-lowest weekly wages in the UK, at £608, bringing it into the second slot.

Residents in cities such as Newcastle and Sunderland – with an average weekly wage of £593 – could use up to 17 percent of their weekly wages to fill up a standard car with 55 litres of fuel, the data showed.

Petrol hit a new high of 191.05p a litre on Sunday, further fueling the spiralling cost of living crisis leaving millions of Britons worse off each month. Meanwhile, diesel has hit new highs of 199.09p, meaning a 55-litre family car would cost an eye-watering £109.42 to fill up. This marks the biggest jump in fuel prices in 17 years, with the cost of filling a family car exceeding £100 for the first time since records began.

Drivers in London spend an average of just 11.8 percent of their weekly wages on petrol – this is despite the fact that a 55 litre tank costs more in London than anywhere else in the UK, at £102.32, offset by the average weekly wage of £867, the highest in the country.

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Drivers cut back on journeys as fuel costs bite: UK filling station operator

Linda Stewart — Mon, 16 May 2022 09:18:52 +0000

Fuel sales have fallen as drivers cut back on the number of journeys they make due to higher pump prices, a UK petrol station operator has said.

Ascona Group, which owns 60 UK petrol stations, said the amount of fuel it sold had dropped by 200,000 litres a week compared to pre-pandemic levels.

Managing director Darren Briggs said customers were making £20 to £30 fuel purchases “last a little bit longer”.

The price of Brent crude oil – the global benchmark for prices – has soared in recent months after Russia’s invasion of Ukraine raised concerns of potential global supply issues.

Ahead of the invasion, fuel prices had already been rising after demand increased following the reopening of economies from coronavirus lockdowns.

The Office for National Statistics revealed on Thursday that the UK’s economy shrank by 0.1% in March and said higher prices, including those at the petrol pumps, were “really beginning to bite”.

Ascona Group’s Mr Briggs, which employs about 800 staff, told the BBC that fuel sales volumes had been down by between 6-8% over the past six weeks.

“Pre-Covid we would retail around about 2.8 million litres a week, we’re down to about 2.6 (million),” he said.

“We are seeing our customers making that £20-£30 purchase of fuel last a little bit longer.”

Rod Dennis, of the RAC, said the “cost of living crisis is undoubtedly having a very real effect” on drivers using their cars.

He said the fall in sales chimed with recent research conducted by the motoring group which showed 30% of drivers were driving less often and 21% said they were “deliberately” driving more efficiently to save fuel.

“Unfortunately, as a result of yet more increases in the wholesale cost of fuel in recent days we’re likely to see pump prices rise even further in the coming weeks, increasing the squeeze on households,” he added.

In response to higher fuel prices, earlier this year the government cut fuel duty on petrol and diesel by 5p per litre. It has said the reduction, which will last for a year, will help drivers cope with rising fuel costs.

But Darren Morgan, director of economic statistics at the ONS, said that people had already started spending less in shops and were cutting down on car journeys due to the high cost of fuel at the pumps in March.

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Musgrave expand presence in Middle East following major new partnership with UAE retailer

Linda Stewart — Wed, 16 Feb 2022 16:21:05 +0000

Musgrave has agreed a significant new supply partnership with Choithrams, a leading retailer with over 40 stores across the United Arab Emirates (UAE).

The agreement will see Musgrave supply Choithrams with more than 500 products from its SuperValu own brand range alongside other Irish brands and products from SuperValu’s Food Academy programme, which operates in partnership with Bord Bia and the Local Enterprise Office (LEO) network. The SuperValu Food Academy programme helps small businesses through the journey from start up to getting their products onto shelves. Choithrams customers can expect to see brands including The Happy Pear, which started out in Food Academy, on shelves soon.

The new partnership represents a meaningful expansion of Musgrave’s presence in the Gulf and comes following the Company’s announcement last year that 250 SuperValu products were available across the UAE on noon Grocery, the Middle East’s largest online grocery marketplace and noon.com’s dedicated fresh grocery platform.

Commenting as the announcement was made at the Gulfood Conference in Dubai, Minister for Agriculture, Food and the Marine Charlie McConalogue, T.D. said: “Tremendous progress has been made in recent years in expanding the reach of Irish food to consumers across the globe. Global demand for Irish produce continues to grow thanks to its outstanding quality and the dedicated efforts of Bord Bia and the initiative of successful home-grown companies such as Musgrave.”

Noel Keeley, Musgrave CEO, said: “As Ireland’s leading food retail and wholesale business we have built a robust and reliable supply chain, which enables us to deliver much-loved Irish products to markets around the world. Our international export offer includes more than 14,000 own brand product lines for grocery and wholesale, from high quality fresh, chilled and frozen foods to dried food. This new partnership with Choithrams is a superb opportunity for Musgrave to continue strategically expanding our presence in the Middle East. We look forward to offering customers the great value, premium quality produce which SuperValu is renowned for.”

Choithrams CEO, Rajiv Warrier, commenting on the agreement, said: “This deal will see Musgrave supply Choithrams with more than 500 of its SuperValu own brand range products, as well as a number of other Irish brands. We have always been inspired by how passionate Irish people are about their heritage and their food. With Musgrave, we found a partner that we have perfect synergy with. This is a great opportunity to get the best of Irish food onto the supermarket shelves of Choithrams.”

Liam Hyland, Director of Export and International Trade at Musgrave added: “Choithrams is one of the leading retailers in the UAE and this deal means we can look forward to seeing SuperValu own brand and other Irish products in all corners of the Gulf market. Musgrave has always been a huge supporter of small local producers. Some 75 per cent of all our goods are sourced in Ireland and more than 1,800 local food producers and suppliers are supported by SuperValu. We’re immensely proud to work with so many local, Irish producers and we’re delighted to be able to offer them access to a wider global market of potential customers.”

Shane Hamill, Bord Bia’s Regional Manager for Asia, Middle East, Africa and Russia commented: “Irish produce is known for its premium quality and provenance and sustainability credentials. This new agreement opens a world of possibilities for Irish suppliers and producers who will now have a further new avenue to sell their products to a growing international market. I’d like to congratulate Musgrave and Choithrams on this new partnership. I have no doubt that it will be a success for both companies and, importantly, for Irish producers.”

Caption: Liam Hyland, Director of Export and International Trade at Musgrave, Kirti Meghnani, Procurement Manager, Choitrams, Rajiv Warrier, CEO Choitrams, Brendan Gleeson, Secretary General at the Department of Agriculture, Food and the Marine, Noel Keeley, CEO of Musgrave, Ashutosh Arun Chakradeo, Head of Retail Choitrams.

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Marmite and PG Tips maker Unilever warns of price rises

Linda Stewart — Thu, 21 Oct 2021 09:54:49 +0000

Consumer giant Unilever has warned it plans to raise prices to cope with “elevated levels” of cost inflation which it expects to continue next year.

The company that owns brands such as Marmite, PG Tips and Dove says it has already taken “appropriate pricing action” which will continue across its global operations and within each of its product divisions.

The company reported a 2.5% rise in sales for the third quarter of 2021. Growth was supported by a 4.1% increase in prices while the volume of goods sold fell by 1.5%.

The UK consumer prices index (CPI) measure of inflation slowed to 3.1% in the year to September, according to the Office for National Statistics. However, inflation is expected to accelerate in the coming months due to a rise in energy costs and continuing disruption to UK and global supply chains.

Unilever’s chief financial officer Graeme Pitkethly said: “We expect inflation to be higher next year than this year.”

Unilever sells to businesses such as retailers, supermarkets and wholesalers who will be considering whether or not to pass on higher costs to shoppers.

But Danni Hewson, financial analyst at AJ Bell, said Unilever was facing a “balancing act of not increasing prices so much that its products are no longer competitive”.

“It is a real test of the strength of the company’s brands,” she said. “After all, will we really stick with branded soap at a materially higher price when there’s an unbranded alternative sitting next to it on the shelf which is an order of magnitude cheaper?

“If enough consumers decide they can put up with a cheaper alternative then it would become a big problem for Unilever.”

Unilever’s brands include Simple skin care, Sure deodorant and Vaseline. It also produces Ben & Jerry’s ice cream, Cornetto, Hellmann’s mayonnaise and Knorr stocks.

Earlier this week, the boss of the Food & Drink Federation warned that the hospitality industry, which includes restaurants and pubs, was seeing “terrifying” price inflation of between 14% and 18%.

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