The first “very tentative signs of stabilisation” are being seen on petrol forecourts, the transport secretary has said, following days of long queues and closed pumps at some filling stations across the country. Grant Shapps said the sooner people returned to their normal habits and stopped panic buying petrol and diesel, the sooner the fuel
Business
Watching the queues outside petrol stations these past days, one cannot help but be reminded of another moment some years ago when people queued in their thousands in Britain’s high streets to withdraw a crucial resource: the bank run on Northern Rock in 2007. Indeed, there are at least three ways in which this episode
Petrol retailers hoping for a return to normal after motorists drained pumps over the weekend have faced yet more forecourt queues – as parts of the economy started to feel the strain. In some areas, up to 90% of pumps ran dry, according to industry estimates – and there was little sign of the panic-buying
The UK is temporarily suspending competition laws for the fuel industry to allow the sharing of information and to target petrol stations running dry around the UK as a result of driver shortages. Earlier, Business Secretary Kwasi Kwarteng met with fuel industry executives in an effort to find a way through the current supply chain
There are no plans to bring in the army to drive lorries to deliver fuel to petrol stations, a government minister has said, as some brands report as many as 90% of their sites running dry. The comments by environment secretary George Eustice came amid newspaper reports that the government was considering using the army
The transport secretary has said “there’s plenty of fuel” in the country as he urged motorists to only fill up “when they need to”. Grant Shapps was speaking on Sky News’ Trevor Phillips on Sunday programme as panicked motorists caused lengthy queues at petrol stations for a third day. A shortage of fuel tanker drivers
Panicked motorists have caused lengthy queues at petrol stations for a second day – as an industry expert predicted the “catastrophic situation” is going to get worse before it improves. Long lines of cars continued to form at forecourts across the country on Saturday after a shortage of HGV drivers forced some fuel retailers to
Octopus Energy is exploring a move to take control of Bulb, its rival challenger brand, amid the crisis in Britain’s residential energy market that has triggered a swathe of corporate casualties. Sky News has learnt that Octopus Energy is among the parties which have requested access to a data room set up by Bulb’s financial
Downing Street is on the brink of a U-turn which will allow overseas HGV drivers to plug the gaps causing emergency shortages, Sky News understands. Ministers met earlier for urgent talks on how to address the shortage – which one industry body estimated at more than 100,000 drivers – but No 10 has not yet
The transport secretary has said motorists should “carry on as normal” when it comes to buying fuel, after BP closed some of its petrol stations due to supply issues. The energy giant said tens of forecourts in its 1,200-strong network were experiencing shortages – blamed on the nationwide lack of HGV drivers – while rival
Employers who withhold tips from workers will be breaking the law under government plans to help around two million workers in the hospitality, leisure, and services sectors. It comes after research showing that many owners of restaurants, bars, and cafes add discretionary service charges to customers’ bills but then keep some of the money themselves.
BP says it is “prioritising” fuel deliveries across its network of branded filling stations as some are hit by the national shortage of HGV and tanker drivers. The company told Sky News that “tens” of its 1,200-strong forecourts were experiencing shortages as a result of delays and it would ensure they got re-stocked first. It
Energy supplier Green has become the latest victim of the crisis engulfing the sector as it collapsed, blaming “unprecedented market conditions and regulatory failings”. Green, which has more than 250,000 customers and 185 staff, confirmed that it would cease trading a day after Sky News revealed that it had lined up advisers to oversee a
Soaring gas prices may not be temporary and more energy suppliers could go out of business in the coming months, the chief executive of Ofgem has warned. Jonathan Brearley said “well above” hundreds of thousands of customers could be affected. “Have a look at the change in the gas price – it really is something
The government has reached agreement with CF Industries to restart carbon dioxide production at its UK sites following talks between the company and Business Secretary Kwasi Kwarteng. The US firm said last week that it had stopped work at its fertiliser plants at Billingham on Teesside and Ince in Cheshire because of a surge in
Some of the UK’s biggest energy companies could be offered state-backed loans in return for taking on customers from smaller suppliers if they go under, as soaring global gas prices throw the industry into crisis, the business secretary has told Sky News. Speaking to Kay Burley, Kwasi Kwarteng also said that the carbon dioxide shortage
As many as one-in-four UK households receive energy from providers that could face collapse as a consequence of soaring gas prices, industry sources have warned. A 250% increase in prices has exposed providers whose wholesale supplies are not “hedged” or insured against market fluctuations, meaning they can now only fulfil supply deals with customers at
More than a dozen of Britain’s smaller energy suppliers have accused their industry regulator of being “unfit” to oversee the deepening crisis that has left many of them facing imminent collapse. Sky News has seen a letter from 15 suppliers – including a number which have already succumbed to soaring wholesale prices – urging Prime
UK energy company Bulb is seeking a bailout to stay afloat amid surging wholesale gas prices with Boris Johnson insisting the issues facing the industry are global. A Bulb spokesperson said: “From time to time we explore various opportunities to fund our business plans and further our mission to lower bills and lower CO2. “Like
A shortage of carbon dioxide (CO2) gas means Christmas dinners could be cancelled, the owner of the UK’s biggest poultry supplier has said. A steep rise in gas prices has caused two large fertiliser plants in Teesside and Cheshire which produce CO2 as a by-product to shut, hitting supply to the food industry. Ranjit Singh