LONDON, May 13 (Reuters) – Britons are chopping back on petrol and diesel purchases as they scale back the quantity of automobile journeys they make to avoid wasting money, amid a worsening cost of living disaster.
Darren Briggs, managing director of the Ascona Group, which operates 60 gasoline stations throughout the United Kingdom, stated on Friday gross sales volumes have been down 6-8% over the past six weeks.
“We are seeing our clients making that 20 pound to 30 pound ($24.4-$36.6) buy of gasoline final that little bit longer,” he instructed BBC radio.
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Britain’s Office for National Statistics said on Thursday that people cutting back on car journeys due to rising prices at the fuel pumps was one of the factors in the UK economy shrinking by 0.1% in March.
Surging prices are causing the biggest squeeze on UK household incomes since at least the 1950s and consumer confidence is at near record lows. read more
Last month, official data found almost a quarter of Britons were struggling to pay household bills, while the boss of the country’s second largest supermarket group Sainsbury’s (SBRY.L) said shoppers were “watching each penny”. read more
Cash-strapped Britons are cutting back on meat, fish and alcohol, buying more cheaper own-brand food from supermarkets, reducing subscription streaming services such as Netflix and cancelling repair warranties on domestic appliances. read more
Earlier this week, John Allan, the chairman of Tesco (TSCO.L), Britain’s greatest retailer, stated customers had began to ration their meals purchases.
“I used to be listening to for the primary time for a few years of clients saying to checkout workers: ‘cease if you get to 40 kilos … I do not need to spend a penny over that,’” he instructed BBC radio.
Allan and Sharon White, the boss of division retailer retailer John Lewis, have referred to as on the UK authorities to do extra to assist these struggling essentially the most from the cost of living squeeze.
($1 = 0.8198 kilos)
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Reporting by James Davey
Editing by Mark Potter
Our Standards: The Thomson Reuters Trust Principles.
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