Fuel thefts in the UK have hit a record high with drive-off raids massively increasing. A drive-off raid is when a motorist fills up their car and drives off without paying.
The number of thefts has increased by 61 percent so far this year.
PRA executive director Gordon Balmer claimed the incidents are “going through the roof”.
He added there are at least 10 thefts reported a day.
Mr Balmer also estimated that retailers will lose £25million if the current rate of drive-off raids continues for the next 12 months.
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And, while Mr Briggs acknowledged that “fuel prices have gone through the roof”, he also stressed there is “huge volatility in the market”.
This in turn means that pump prices are largely dependent on the timing of when retailers buy new supplies.
Mr Briggs added that Ascona Group needs a profit margin of “at least 9p per litre” to cover costs such as wages and utility bills.
However, for the past two months it has been “lucky to make 7p per litre”, the chief executive claimed.
Mr Balmer echoed the comments saying: “We’re making very, very thin returns as we struggle with the high fuel prices.”
He insisted all retailers have passed on the 5p-per-litre cut in fuel duty implemented by the Treasury in March.
The Competition and Markets Authority has, however, launched a “short and focused review” of how much drivers are being charged for fuel after a request by Business Secretary Kwasi Kwarteng.
Chancellor Rishi Sunak previously told MPs that he will carefully consider calls for a “more substantial” fuel duty cut.