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16/10/2008
Fuel Wars Take-Off
As two major supermarkets operating in NI announce they are to follow a competitor's cost-cutting move on the petrol forecourts - with Sainsbury's set to cut its petrol prices today and Tesco ready to match prices already announced this week by Asda - the budget airline Ryanair is turning its attention to airline fuel costs.
The company wants a probe into Air BP's alleged "unjustified attempts to impose monopoly increases of over 50%" on the delivery of fuel".
With the price of unleaded petrol on the forecourts dropping to less than £1 per litre, Ryanair has called on the Office of Fair Trading (OFT) to investigate price rises in aviation fuel at George Best Belfast City Airport as well as at Glasgow Prestwick airports.
Ryanair said Air BP, which has a "complete monopoly" on the fuel at the airports, has not explained the rise.
"Air BP has a complete monopoly on the supply of aviation fuel at these airports and is abusing this position to unilaterally impose over 50% cost increases (over 10 times the rate of inflation)," said Jim Callaghan, Ryanair's Director of legal and regulatory affairs.
"This abuse comes at a time when BP and the other oil majors are making billion pound profits at the expense of the aviation industry, which is currently in crisis," he added.
The dispute comes against a background of a barrel of oil dropping from a high of around $147 in July, to less than $80 - the lowest level for nearly 14 months.
Air BP, which provides air services and fuels, told the BBC that "prices were reasonable".
The firm said prices are agreed "by mutual negotiation", and must "reflect current market and cost environments".
A statement also said it was "confident" that it had not breached any competition laws and was surprised by the carrier's decision to involve the OFT.
(BMcC)
The company wants a probe into Air BP's alleged "unjustified attempts to impose monopoly increases of over 50%" on the delivery of fuel".
With the price of unleaded petrol on the forecourts dropping to less than £1 per litre, Ryanair has called on the Office of Fair Trading (OFT) to investigate price rises in aviation fuel at George Best Belfast City Airport as well as at Glasgow Prestwick airports.
Ryanair said Air BP, which has a "complete monopoly" on the fuel at the airports, has not explained the rise.
"Air BP has a complete monopoly on the supply of aviation fuel at these airports and is abusing this position to unilaterally impose over 50% cost increases (over 10 times the rate of inflation)," said Jim Callaghan, Ryanair's Director of legal and regulatory affairs.
"This abuse comes at a time when BP and the other oil majors are making billion pound profits at the expense of the aviation industry, which is currently in crisis," he added.
The dispute comes against a background of a barrel of oil dropping from a high of around $147 in July, to less than $80 - the lowest level for nearly 14 months.
Air BP, which provides air services and fuels, told the BBC that "prices were reasonable".
The firm said prices are agreed "by mutual negotiation", and must "reflect current market and cost environments".
A statement also said it was "confident" that it had not breached any competition laws and was surprised by the carrier's decision to involve the OFT.
(BMcC)
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With 50% of the cost of a litre of petrol or diesel going to the Treasury, the Government must take serious action to reduce fuel prices across the United Kingdom, DUP Treasury Spokesman Sammy Wilson has said. Mr Wilson said: "Fuel duty and VAT make up 50% of the cost of our fuel with green taxes attributing another 7%.
06 February 2006
Fuel costs hit Ryanair profit margin
Budget airline Ryanair has reported a 26% growth in passenger numbers, but has seen profits hit by high fuel costs. In the third financial quarter, the airline said that it had increased third quarter profits to 36.8 million euro. Traffic grew by 26% to 8.
Fuel costs hit Ryanair profit margin
Budget airline Ryanair has reported a 26% growth in passenger numbers, but has seen profits hit by high fuel costs. In the third financial quarter, the airline said that it had increased third quarter profits to 36.8 million euro. Traffic grew by 26% to 8.
20 September 2011
Gas Price Hike 'Fuels Winter Woes'
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Gas Price Hike 'Fuels Winter Woes'
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21 September 2005
Over 60's urged not to miss out on fuel payments
People aged 60 or more who have not received a Winter Fuel Payment before, have been advised to check if they are eligible.
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People aged 60 or more who have not received a Winter Fuel Payment before, have been advised to check if they are eligible.
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