The Department of Energy Security and Net Zero has said fuel stocks at petrol stations across the UK hit their lowest level since December 2022, with five regions most affected
Fuel stocks at petrol stations throughout the UK have plummeted to their lowest levels since the crisis triggered by the Russia-Ukraine conflict, according to new data.
The most recently available figures reveal that forecourt stocks of petrol and diesel reached a three-year low at the end of March. Tanks across the country are averaging just 40 per cent of their capacity. The last time levels were this depleted was in December 2022.
Data from the Department of Energy Security and Net Zero confirms that petrol and diesel reserves were at their lowest during the final week of March.
The Isle of Wight, South Ayrshire, Cardiff, Vale of Glamorgan and Mid and East Antrim recorded the most severe stock shortages, according to the Telegraph.
The Isle of Wight averaged just 28.5 per cent capacity, South Ayrshire 29.4 per cent, Cardiff and Vale of Glamorgan 30.2 per cent and Mid and East Antrim 30.9 per cent.
Experts have attributed the declining stock levels to a surge in demand rather than any disruption to supply chains.
Global oil supplies have, however, been severely disrupted by the ongoing Middle East conflict. The US and Israel have carried out joint strikes on several key Iranian targets since February 28.
Iran has hit back by targeting sites across the region and restricting the movement of oil tankers through the vital supply corridor of the Strait of Hormuz, a route through which approximately 20% of all globally traded oil passes.
Gordon Balmer, the executive director of the Petrol Retailers’ Association, said: “Reduced stock levels can be explained by the higher than usual demand at the start of the Middle East conflict.”
Fuel prices have also rocketed, with the cost of diesel at motorway service stations surpassing the £2 mark for the first time. The RAC has revealed that diesel prices were averaging 200.6p per litre, a rise of 48.7p or 34 per cent since the outbreak of the Iran war.
The RAC noted that a tank of petrol now averages £86.92, up £13.86 since Feb 28, while the cost of filling a diesel tank has climbed to £105.11, an increase of £26.80.
Despite this, motorists have not been put off purchasing fuel. Government figures reveal that petrol deliveries to filling stations averaged 7,333 litres per day in the four weeks from March 1, surpassing the average of 7,071 litres per day in the preceding four weeks, the Telegraph reported.
Petrol sales were greater in March than in February, averaging 7,615 litres per day in the four weeks from March 1, up from 7,139 litres in the four weeks prior.
The Department of Energy Security and Net Zero figures are based on snapshots of petrol and diesel levels from a sample of around 4,900 filling stations across the UK, covering more than four-fifths of typical sales, the Telegraph reported.
Luke Bosdet, the AA’s spokesman on pump prices, said: “Soaring petrol and diesel pump price rises have been painful and disruptive in places but UK drivers have generally kept their nerve and stuck to their fuelling routines, as the AA advised.”
“Fuel supplies have been handled pretty well with reports of pumps running low being replaced with ‘business as usual’ notices after a few hours.”
A Department of Energy Security and Net Zero spokesman said: “Petrol stations in the UK are being supplied as normal and we have a diverse and resilient supply. Both the AA and Fuels Industry UK have been clear that fuel production and imports are continuing across the UK as usual with no issues being reported.”
