Britain temporarily suspending competition laws for the fuel industry. This is so fuel suppliers can share information and to target petrol stations running dry around the UK as a result of driver shortages. UK Business Secretary Kwasi Kwarteng held a meeting with fuel industry executives in an effort to find a solution to the supply chain pressures.
In a statement, Mr Kwarteng said: “We have long-standing contingency plans in place to work with industry so that fuel supplies can be maintained and deliveries can still be made in the event of a serious disruption.
“While there has always been and continues to be plenty of fuel at refineries and terminals, we are aware that there have been some issues with supply chains.
“This is why we will enact the Downstream Oil Protocol to ensure industry can share vital information and work together more effectively to ensure disruption is minimised.
“We thank HGV drivers and all forecourt staff for their tireless work during this period.”
The fuel industry will now be temporarily exempt from the Competition Act of 1998.
The Government have carried out the move to allow sharing of information and optimising the supply of fuel.
More to follow…