{"id":226551,"date":"2025-06-30T12:01:17","date_gmt":"2025-06-30T12:01:17","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/226551\/"},"modified":"2025-06-30T12:01:17","modified_gmt":"2025-06-30T12:01:17","slug":"fuel-margins-at-historic-highs-despite-falling-oil-price","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/226551\/","title":{"rendered":"Fuel margins at historic highs despite falling oil price"},"content":{"rendered":"

Energy suppliers that fail to meet Ofgem\u2019s financial resilience targets are getting an unfair advantage and should be named, according to rivals.<\/p>\n

The regulator has come under fire from Utility Warehouse, Britain\u2019s seventh-largest supplier, and Good Energy, a leading smaller supplier, for failing to identify three companies that are falling short of the minimum \u201ccapital target\u201d that came into force at the end of March.<\/p>\n

The rules were introduced after dozens of poorly-capitalised suppliers went bust in the energy crisis of 2021-22, costing households billions of pounds.<\/p>\n

Stuart Burnett, chief executive of Telecom Plus, said: \u201cOfgem\u2019s approach is already creating an unlevel playing field, and should undercapitalised suppliers fail, it is the consumer that will suffer the most.\u201d<\/p>\n

Emily Gosden has the full story here<\/a>.<\/p>\n

Fuel margins at historic highs despite falling oil price<\/p>\n

Motorists are still being hit with high fuel margins despite lower prices at the pump, the competition watchdog has said.<\/p>\n

The Competition and Markets Authority (CMA) said retailers\u2019 margins \u2014 the difference between what they pay for fuel and what they sell it at \u2014 remained high compared to historic levels.<\/p>\n

Fuel prices<\/a> across the UK fell for both petrol and diesel over the three months to the end of May by 7.6 pence per litre (ppl) and 8.4 ppl respectively.<\/p>\n

But the CMA found that fuel margins remain elevated which suggests overall competition in the UK\u2019s road fuel retail market remained \u201cweak\u201d.<\/p>\n

Supermarket fuel margins fell from 8.9 per cent in December 2024 to 7.9 per cent in February 2025, before rising to 8.3 per cent in March 2025, the regulator found.<\/p>\n

Non-supermarket fuel margins fell from 9.9 per cent in December 2024 to 8.9 per cent in January 2025, before rising to 10.4 per cent in March 2025.<\/p>\n

Having started the week on the front foot, the FTSE 100 has taken a step back during the morning session, to trade down 16 points or -0.2 per cent at 11.30am.<\/p>\n

Among the biggest losers as the index struggled for direction were Intermediate Capital Group<\/b>, the global alternative asset manager, which lost 3.5 per cent, Marks & Spencer<\/b> was down 2.6 per cent while Experian, <\/b>the credit and data analytics group,retreated 2.3 per cent.<\/p>\n

Rolls-Royce<\/b> was at the top of the leaderboard, up 2.3 per cent, followed by Imperial Brands<\/b>, up 1.6 per cent, and Auto Trader<\/b> which added 1.3 per cent.<\/p>\n

The pound was trading slightly down against the dollar, losing 0.1 per cent at $1.369, and the euro, down 0.1 per cent while Brent oil was off 9 cents at $66.71 at \u20ac1.168.<\/p>\n

Gold firmed up 0.4 per cent at $3,287.29 per ounce as the dollar hovered near its lowest level in more than three years, amid expectations US interest rates could be cut faster as economic activity shows signs of slowing.<\/p>\n

Wirecard backer sells up for just \u00a32.5m<\/p>\n

Alexander Darwall, a stockpicker once so admired that Jupiter blamed him for \u00a34.3 billion of client defections when he left, is selling up.<\/p>\n

Darwall is selling his business Devon Equity Management to Martin Gilbert\u2019s River Global for up to \u00a32.46 million. He will join River Global as co-head of European equities.<\/p>\n

London-based Devon has struggled to win business in recent years after a period of underperformance and Darwall\u2019s spectacular misreading of one of its biggest investments, Wirecard, which turned out to be a massive fraud<\/a>.<\/p>\n

Read more: <\/b>Star stockpicker Alexander Darwall sells fund for just \u00a32.46m<\/b><\/a><\/p>\n

Housing market show signs of improving<\/p>\n

Mortgage approvals and home lending rose in May in a sign of an improving housing market and gradually falling interest rates.<\/p>\n

Official figures from the Bank of England showed that new mortgages rose by 2,400 to 63,000 last month, up from 60.6k recorded in April and beating expectations of around 59k.<\/p>\n

The total volume of mortgage lending also rose sharply by \u00a32.8 billion between April and May, when credit contracted by \u00a3800 million, the Bank. said. Remortgage approvals also posted the highest figures since February 2024 at 41,500.<\/p>\n

The effective interest rate paid on the average new mortgage in the UK fell from 4.49 per cent to 4.47 per cent between April and May<\/a>. The Bank cut interest rates from 4.5 per cent to 4.25 per cent on May 8 and is expected to do so again in August, according to financial market projections.<\/p>\n

WH Smith gets less than expected from high street stores<\/p>\n

DINENDRA HARIA\/SOPA IMAGES\/ZUMA<\/p>\n

WH Smith will receive less from the sale of its 230-year-old high street business to Hobbycraft-owner Modella, the retailer said on Monday as it completed the sale.<\/p>\n

It blamed a \u201cmore cautious outlook amongst stakeholders\u201d, adding: \u201cThis, combined with a period of softer trading, has resulted in a reduction in the ongoing cash flow of the business.\u201d<\/p>\n

WH Smith now expects gross cash proceeds of up to \u00a340 million, compared to \u00a352 million it had previously forecast.<\/p>\n

WH Smith sold the high street business<\/a> to focus on its travel business.<\/p>\n

Expect cherry picking after GDP data, says Simon French<\/p>\n

Simon French, the managing director and chief economist at Panmure Liberum, says the nuances in the second release of GDP data from the Office for National Statistics today need to be considered. \u201cExpect plenty of data cherry-picking his week,\u201d he writes.<\/p>\n

In his column in The Times<\/a> today on Labour\u2019s first twelve months, French says: \u201cThere is a credible argument that things could have been considerably worse given the structural challenges inherited from the Conservatives. Yet a series of policy missteps have needlessly sapped momentum. In essence, Labour\u2019s first year has been defined less by a transformative economic mission and more by steady progress, punctuated by damaging miscalculation.\u201d<\/p>\n

Please enable cookies and other technologies to view this content. You can update your cookies preferences any time using privacy manager.<\/a><\/p>\n

Enable cookiesAllow cookies onceHouseholds saving less as disposable income falls<\/p>\n

Households saved less in the first three months of the year, data from the Office for National Statistics showed.<\/p>\n

The household saving ratio is estimated to have decreased by 1.1 percentage points to 10.9 per cent in the quarter, which the ONS said was driven by a fall in the non-pension savings contributions. This was down from 12 per cent in the fourth quarter.<\/p>\n

Real household disposable income per head fell by 1 per cent in the first quarter, down from a 1.8 per cent rise in the fourth quarter.<\/p>\n

Please enable cookies and other technologies to view this content. You can update your cookies preferences any time using privacy manager.<\/a><\/p>\n

Enable cookiesAllow cookies onceAerospace sector buoyed by lower US tariffs<\/p>\n

Defence, aerospace and gold mining stocks led the risers in early trading on the FTSE 100.<\/p>\n

Rolls-Royce has been helped by cuts in US tariffs for the aerospace sector which have come into force, while miners Fresnillo and Endeavour were lifted by a rise in the price of gold, supported by a weaker dollar.<\/p>\n

Energy stocks fell on a lower oil price.<\/p>\n

Sterling strengthens agains the dollar<\/p>\n

Sterling has continued to strengthen this morning as the dollar slid as optimism over US trade deals increased market bets for earlier interest rate cuts by the Federal Reserve.<\/p>\n

The pound was up 0.03 per cent against the dollar at $1.3716.<\/p>\n

The FTSE 100 has opened around 11 points higher, up 0.13 per cent to 8,811.98. The more UK-focused FTSE 250 was flat at 21,722.05.<\/p>\n

Oil prices fell at the prospect of another Opec+ output increase in August improved supply expectations. Brent crude futures dropped 0.5 per cent to $66.49 a barrel.<\/p>\n

Gold, a safe haven asset, rose to $3,294.64 an ounce.<\/p>\n

Lifetime Isas risk being mis-sold, MPs warn\"Dame<\/p>\n

Dame Meg Hillier says the Lifetime Isa needs to be reformed before it can genuinely be described as a market-leading savings product<\/p>\n

TIMES MEDIA LTD<\/p>\n

MPs have called for the government to reform Lifetime Isas amid concerns that the accounts are too complicated, penalise some savers and may even have been mis-sold to people who could be eligible for universal credit, Ben Martins reports<\/a>.<\/p>\n

The Commons Treasury committee warned that the dual-purpose objective of the products, which are known as Lisas and are meant to help people save to buy their first home and put away money for retirement, had made them \u201ccomplex and increases the risk of consumers choosing unsuitable investment strategies\u201d.<\/p>\n

Dame Meg Hillier, who chairs the committee, said that while the MPs were \u201cfirmly behind\u201d the aims of the \u00adaccounts, \u201cthe question is whether the Lifetime Isa is the best way to spend \u00adbillions of pounds over several years to achieve those goals\u201d.<\/p>\n

\u201cThe Lifetime Isa needs to be reformed before it can genuinely be described as a market-leading savings product.\u201d<\/p>\n

Lower US tariffs for carmakers and aerospace in force\"Range<\/p>\n

Range Rover for export at Liverpool, Merseyside<\/p>\n

ALAMY<\/p>\n

Tariff cuts for carmakers and the aerospace sector have come into force after Sir Keir Starmer finalised parts of a deal for relief from US import taxes.<\/p>\n

Car makers such as Jaguar Land Rover, Mini, and Aston Martin are expected to be shipping cars to America today. They will face a 10 per cent tariff quota, down from 27.5 per cent, while the aerospace sector will see a 10 per cent levy removed entirely.<\/p>\n

Starmer and President Trump finalised the deal for the sectors at the G7 summit. However, tariffs on steel have been left at 25 per cent rather than falling to zero as originally agreed. Talks are ongoing to secure zero tariffs.<\/p>\n

UK first-quarter growth unrevised at 0.7%<\/p>\n

Gross domestic product is estimated to have grown by 0.7 per cent in the first quarter of the year, unrevised from the first estimate, figures from the Office for National Statistics showed today.<\/p>\n

In output terms, growth was driven by an increase in the dominant services sector. Manufacturing and construction also grew, helped by an increase in exports ahead of President Trump\u2019s \u2018liberation day\u2019 tariffs that he announced in early April.<\/p>\n

Recent data from the ONS showed the economy contracted by 0.3 per cent in April after US tariffs and higher employers\u2019 National Insurance were introduced.<\/p>\n

Tritax Big Box expect 50% earnings growth<\/p>\n

Tritax Big Box, the company that tabled a \u00a3485 million bid<\/a> for larger rival Warehouse Real Estate Investment Trust last week, has said it expects to deliver earnings growth of 50 per cent in the medium-term. The forecast came ahead of an \u201cinvestor summit\u201d this afternoon.<\/p>\n

Colin Godfrey, chief executive of Tritax Big Box, said: \u201cToday\u2019s investor seminar provides the platform to showcase the significant growth opportunities our strategic focus creates. With record rental reversion, an attractive logistics development pipeline and, thanks to our innovative power-first approach, the potential for major data centres\u201d.<\/p>\n

China manufacturing shrinks for a third month\"China\u2019s<\/p>\n

China\u2019s factories face slowing demand from overseas buyers<\/p>\n

GETTY<\/p>\n

China\u2019s manufacturing activity contracted for a third month in June, the official purchasing managers\u2019 index (PMI) showed. PMI rose to 49.7 in June from 49.5 in May, remaining below the 50-mark that separates growth from contraction and in line with economists\u2019 forecasts. <\/p>\n

The figures suggest factories are battling to find domestic buyers as overseas sales slow in the face of the uneasy trade truce with the US. Beijing is unlikely to be able to meet its 2025 growth target of \u201caround 5 per cent\u201d if the country\u2019s vast manufacturing sector stagnates or shrinks.<\/p>\n

Asian markets rise after US-Canada talks resume\u00a0<\/p>\n

Asia shares strengthened as signs of progress in a trade standoff between the United States and Canada helped risk sentiment. <\/p>\n

Japan\u2019s Nikkei rose 0.8 per cent and China\u2019s SSE Composites gained 0.25 per cent. <\/p>\n

The FTSE 100 is forecast to open flat when trading begins shortly. The index rose as in a global rally on Friday, fuelled by growing optimism that the US and China are nearing a trade agreement. <\/p>\n

Investors are also eyeing the progress of a huge US tax-cutting and spending bill making its way through the Senate. The Congressional Budget Office estimated the bill would add $3.3 trillion to the nation\u2019s debt, which could test foreign buyers\u2019 appetite for US government bonds.<\/p>\n

Canada halts digital tax to help US trade talks\"Canadian<\/p>\n

Canadian prime minister Mark Carney with President Trump at the G7 Summit in Kananaskis, Alta.<\/p>\n

ALAMY<\/p>\n

Canada scrapped its digital services tax targeting US technology companies on Sunday, just hours before it was due to take effect and in a bid to advance stalled trade negotiations with the United States.<\/p>\n

Canadian prime minister Mark Carney and US president Donald Trump will resume trade talks in order to agree on a deal by July 21, Canada\u2019s finance ministry said in a statement.<\/p>\n

Trump abruptly called off trade talks on Friday over the tax, saying that it was a \u201cblatant attack\u201d On Sunday, he had pledged to set a new tariff rate on Canadian goods.<\/p>\n

The breakdown in trade talks comes after the two leaders met at the G7 in mid-June, and Carney said they had agreed to wrap up a new economic agreement within 30 days.<\/p>\n","protected":false},"excerpt":{"rendered":"Energy suppliers that fail to meet Ofgem\u2019s financial resilience targets are getting an unfair advantage and should be…\n","protected":false},"author":2,"featured_media":157154,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3091],"tags":[7747,51,29338,89278,66726,89277,36727,9461,89276,2441,2661,14836,16,15],"class_list":{"0":"post-226551","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-at","9":"tag-business","10":"tag-despite","11":"tag-falling","12":"tag-fuel","13":"tag-highs","14":"tag-historic","15":"tag-live","16":"tag-margins","17":"tag-markets","18":"tag-oil","19":"tag-price","20":"tag-uk","21":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114772213731376204","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/226551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=226551"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/226551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/157154"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=226551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=226551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=226551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}