Dery prices set to rise
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• Dery prices look set to increase for the first time in over six months following Texaco's announcement that it plans to reduce the support it has been giving fuel retailers and wholesalers.
Stories in the national press have highlighted the proposed rise in petrol prices at Texaco garages, but CM can now reveal that diesel prices, both on the forecourt and to bulk purchasers, will also be affected by the move.
The three major oil companies, Shell, BP and Esso which together control more than half the market, have not yet responded to the pro posed move, but Shell says: "We can see the logic of what Texaco is doing."
Texaco's move will affect the price of fuel differently in different parts of the country, since the company is using the change to align fuel prices more closely throughout the country.
It is expected that the move will add an average of around 0.879 pence to the cost of a litre, or four pence to the cost of a gallon_ Shell says: "We are absolutely sure that the next change in pump prices will be upward rather than downward. We are losing a great deal of money at the moment."
Esso says: "As a matter of policy we do not speculate on pricing and it is always difficult to anticipate changes in fuel prices, but market competition is severe for all products, diesel included."
The Road Haulage Association describes the move as "disgraceful", and says: "We don't think the price has fallen significantly to reflect the fall in crude prices on the world's spot market."