Daily Telegraph: Pumps can't cope with £1 litre petrol: “More than two thirds of Britain's pumps are unable to show a petrol price above 99.99p a litre.”: Monday 5 Sept 2005
By Christopher Hope, Business Correspondent
(Filed: 05/09/2005)
Thousands of petrol pumps will need to be changed if, as feared, prices reach £1 a litre. More than two thirds of Britain's pumps are unable to show a petrol price above 99.99p a litre.
Last week the price of a litre ranged between 94p and 96p and analysts believe it is only a matter of time before it breaches £1.
Shell and BP, which have 2,300 of the UK's 10,000 petrol stations, confirmed that changes were being considered. BP said: "All pumps will have to be adjusted", while Shell said the revamp had been considered but nothing was being planned as yet.
The wholesale price of petrol was forced up by 8p a litre last week following Hurricane Katrina. Local competition has helped to restrain the rises, although some filling stations in remote areas are already charging £1 for a litre of unleaded.
Ray Holloway, of the Petrol Retailers Association, said a fresh increase in pump prices was certain as a reaction to the hurricane. But motorists were unlikely to see £1 a litre before Christmas.
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