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Sept. 27, 2021, 2:12 a.m. EDT

UK government suspends competition law to tackle fuel supply crisis

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By Jaime Llinares Taboada

The U.K. government has exempted the fuel-retail industry from a competition law in order to ease the supply issues affecting the country’s petrol stations.

Following a meeting with industry executives, the government on Sunday evening agreed to temporarily exempt companies from the Competition Act 1998 for sharing information and optimizing supply.

“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,” Business Secretary Kwasi Kwarteng said.

On Friday, the U.K. Petroleum Industry Association admitted temporary forecourt grade-outs in parts of the U.K., caused by delays in the supply chain due to haulier driver shortages.

On Thursday, BP /zigman2/quotes/202286639/delayed UK:BP -1.90%   /zigman2/quotes/207305210/composite BP -2.29% told Dow Jones Newswires that it was experiencing fuel supply issues at some of its U.K. retail sites, with “a handful” of sites temporarily closed due to a lack of unleaded and diesel grades.

Earlier this weekend, the U.K. government announced increases in heavy goods vehicle testing, short-term visas for HGV drivers and new HGV skills bootcamps.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

/zigman2/quotes/202286639/delayed
UK : U.K.: London
356.20 p
-6.90 -1.90%
Volume: 34.89M
Oct. 21, 2021 4:35p
P/E Ratio
11.54
Dividend Yield
4.44%
Market Cap
£72.21 billion
Rev. per Employee
£2.21M
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/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 29.44
-0.69 -2.29%
Volume: 9.28M
Oct. 21, 2021 4:00p
P/E Ratio
11.51
Dividend Yield
4.26%
Market Cap
$99.76 billion
Rev. per Employee
$2.84M
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