Hauliers' anger over BP profits
HAULIERS in East Anglia have reacted with anger as BP announces bumper half-year profits. While motorists continue to feel the pinch at the petrol pumps, the oil giant made almost £2million an hour between April and June.
HAULIERS in East Anglia have reacted with anger as BP announces bumper half-year profits.
While motorists continue to feel the pinch at the petrol pumps, the oil giant made almost £2million an hour between April and June.
Half-year profits reached US$13.44 billion (£6.75bn) - 23 per cent ahead of the previous year - due to rocketing oil and gas prices.
From April to June, the company made underlying profits of US$8.6bn (£4.3bn) - almost £2m an hour and 56 per cent ahead of the same period last year.
But motorists suffered an average 10p rise in the price of a litre of petrol to 118.2p over the period, with average diesel prices up more than 14p to 131.6p, the AA said.
News of the profits angered hauliers in the area, who continue to bear the brunt of rising forecourt costs.
- 1 Ipswich man jailed for 25 years after teen left paralysed in shooting
- 2 Devastated family wrongly told prisoner hanged himself weeks before release
- 3 Armed police arrest two 16-year-olds on suspicion of firearms offences
- 4 10,000 listeners tune in to new Suffolk radio station
- 5 'Depraved' Felixstowe man jailed for child sex offences
- 6 'It's very frustrating': Anger as £150 stolen from charity shop in Felixstowe
- 7 Kesgrave family move home to cope with 'crippling' cost of living
- 8 Serious fire breaks out at home in Woodbridge
- 9 How Covid restrictions will change in England this week
- 10 'Dire for hospitality in Ipswich' - grill owner hits out at hardship grants
Barry Hyard, operations manager from Leggetts Transport, Woolpit, said: “Like every other business we are struggling to contend with the high price of petrol, while these multi-million pound companies continue to report record profits. It's a disgrace.”
Geoff Dossetter, director of external affairs at the Freight Transport Association, said the haulage industry is often viewed as the barometer of the economy.
He said: “Things aren't as bad as they could be, but certainly hauliers feel the impact of higher petrol costs.
“The Government are making a massive windfall out of oil prices. It would be nice, of course, if BP decided to share some of that profit with their customers but I don't imagine that will happen.”