The chairman of Asda has dismissed accusations that petrol sellers might be "profiteering" from the situation after Prime Minister Keir Starmer warned petrol stations against taking advantage of the conflict in the Middle East.
Costs have been spiralling due to the conflict in the Middle East which has seen Iran effectively shut the Strait of Hormuz - a vital shipping lane which sees 20 per cent of the world's oil pass through it every year.
The average price of unleaded rose above 150p a litre for the first time since May 2024, adding further pressure to household budgets and intensifying scrutiny of fuel costs ahead of the Easter getaway.
Representing the UK's second largest fuel retailer, Asda executive chairman Allan Leighton said recent accusations aimed at forecourts were misplaced, arguing that retailers were not responsible for the latest spike in prices.
“Our fuel volumes are up quite significantly and clearly demand has been outstripping supply. Supply is tight and we are all trying hard on that," he said. "The issue is a temporary one, and some could see issues when we are waiting for delivery, and we can expect to see that continue."
Earlier this month, Britain's finance ministry met petrol retailers following claims they were profiteering from rising fuel prices.
"It's very clear that that is not the case," said Leighton, noting Asda's margin "will be down".
"The government are getting a lot of money off the back of this," he said. "Instead of pointing the finger at everyone else, which it does on a consistent basis, it ought to point the finger at itself."
At a time when she is pushing retailers to keep costs down for motorists, Chancellor Rachel Reeves has been accused of profiteering from the crisis.
Leighton joined the criticisum, saying that the Government was "pointing fingers at people" and had "zero credibility" when it comes to talk of profiteering by others.
"...It's a typical camouflage, they point the finger at somebody else, hopefully then nobody will work out that [they] are the problem," he said.
"This whole thing is actually a disgrace, that they try to point the finger at petrol retailers for gouging," he told the Daily Mail.An Asda spokesperson added that all forecourts are receiving "normal fuel deliveries, and sites are operating as usual" but warned that pumps may be briefly unavailable while being refilled due to the additional demand.
Motorists are filling up more frequently amid fears of rising prices and potential supply disruption from the conflict. Asda operates 800 fuel stations and is Britain’s second largest motor fuel retailer after Tesco.
"We're not getting any more than our allocation from the suppliers. If your allocation is the same and your (sales) volumes are up, then your stocks are going to go down, it's as simple as that," he told reporters after Asda published annual results on Friday.
"Those spikes can lead to temporary shortages. That can be a pump, a product, unleaded petrol or diesel, a site. But they're temporary and they tend to get redressed very quickly," he said.
Responding to Leighton's comments, a joint statement from Fuels Industry UK CEO Elizabeth de Jong and the executive director of the Petrol Retailers Association, Gordon Balmer, called on motorists to stick to their normal fuel purchasing.
"We are aware of reports circulating about fuel availability at a small number of forecourts for one retailer. Supply across the UK is flowing normally and there is no need for any change in usual buying habits," they said.