Will Brexit affect the UK´s petrol station market?
Posted / Last update: 20-12-2016
PetrolPlaza attended the APEA Live 2016 show in Milton Keynes, United Kingdom, to explore the current situation of the fuel retailing market and possible effects of Brexit.
Low interest rates and low inflation have helped put a record number of cars on British roads. These conditions, along with the current prices of petrol and diesel, gave the UK an increase in fuel demand.
Both independent and large fuel retailers are investing heavily into alternative revenue streams to fuel. Fresh food, quality coffee, automatic car wash services and others are all expanding across the British islands. Many petrol stations have also installed DHL and other pick-up points in order to increase customer footfall at sites.
The expansion of mobile payment technology is another key trend at UK petrol stations. Shell´s Fill Up & Go mobile payment app is now accepted in over 1,000 sites across the country, with customers able to scan a QR code displayed at the pump and pay from their car.
On June 2016, around 52% of British voters voted to leave the European Union. Equipment manufacturers for the fuel retailing sector have felt the effects of Brexit especially through the drop in value of the British Pound, making the import of foreign machines and technologies more expensive. It is expected that the UK will officially leave the EU by summer 2019, with the terms and conditions still unclear and much uncertainty hovering over the exit deal.
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