LONDON – Rising oil prices and consumer demand for more
fuel-efficient vehicles has sent fuel sales spiraling downward in the U.K. over
the past five years, The Guardian reports.
Total sales of gasoline (including diesel) from supermarkets
and non-supermarket forecourts fell from 37.6 billion liters in 2007 to 34.2
billion liter last year, according to data from the Automobile Association
(AA).
The data also reveals a shift in fuel preferences, with
sales of gasoline down from 22.9 billion liters to 17.4 billion liters, while
diesel sales increased from 14.8 billion liters to 16.7 billion liters.
The AA said that total fuel sales are now off 9.3% since
2007, which translates to roughly 35 days of lost sales for retailers.
"Greater take-up of diesel cars and smaller petrol
vehicles has contributed to this overall decline in U.K. fuel sales over the
long term," said AA president Edmund King. "However, soaring pump
prices have taken a huge toll on petrol sales more recently — during the 10
pence-a-liter price surges last March and October, pump sales of petrol fell by
up to 5%."
King said the trend was likely to continue as fuel prices
are expected to increase. "The trouble is that, with global economic
recovery, the stock market will predict greater oil and fuel demand and push up
commodity values accordingly," he said.