UK drivers' dash for fuel at start of Iran war boosts retail sales - Reuters
UK drivers' dash for fuel at start of Iran war boosts retail sales Reuters
Coverage by Political Leaning
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Notable Quotes
"The longer the crisis goes on for, the more likely consumers are to adjust their spending habits, as consumer confidence wanes."
— Thomas Pugh , Executive
"There was panic at the pumps in March, as escalating prices saw motorists race to fill up their tanks to try to save cash and build reserves in case of shortages."
— Susannah Streeter , Academic
"Pump prices aren’t falling at the rate that our analysis of wholesale data indicates they should."
— Simon Williams , Executive
"If consumers are forced to spend more on grocery, petrol and utility bills, they will inevitably be forced to rein back their discretionary spending."
— Jacqueline Windsor , Executive
"Retail sales rose in the three months to March, with commercial art galleries doing well earlier in the quarter and sales in beauty products stores rising as retailers reported launching new collections."
— Hannah Finselbach , Academic
"The first batch of hard data on consumers’ spending since the start of the Iran war was better than expected."
— Elliott Jordan-Doak , Academic
Key People
Senior UK economist at Pantheon Economics.
Senior statistician at the Office for National Statistics.
Jacqueline Windsor is the head of retail at PwC UK.
Head of policy at the RAC.
Chief investment strategist at Wealth Club discussing tech companies.
Chief economist at RSM UK.
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<a href="https://news.google.com/rss/articles/CBMilAFBVV95cUxOajdTYndDUklRcXJMdWtvNGJ1Y3hRZmRRN0c3dXRpNlVPMnVtSmdHRDNtTXhROW9EbUtUODZUem9ualFqV1UyZlEtRDJick5pbkVoOXZ5bTBhSUVuZlRKY0RCcDRqTUlzWTY4Wk9zY01NbkRIT2dEdU91bW9zYXo4eG9hQWZlX3NUcktCTWlDbUlzU1Nf?oc=5" target="_blank">UK drivers' dash for fuel at start of Iran war boosts retail sales</a> <font color="#6f6f6f">Reuters</font>
UK retail sales returned to growth in March, driven by motorists stocking up on fuel as prices increased due to the Iran war, according to official figures.
British motorists rushed to buy fuel immediately after the start of the Iran war, leading to a 6.1% increase in fuel sales and a 0.7% rise in overall retail sales in March.
UK retail sales volumes increased by 0.7% in March, with a significant 6.1% rise in fuel sales as motorists responded to rising fuel prices amid the Iran conflict.
Retail sales in Great Britain rose by 0.7% in March, driven by a 6.1% surge in fuel sales as motorists filled up amid escalating fuel prices due to the Iran war.
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