Business
Despite rising fuel prices Pembrokeshire garage says it only makes 37p profit on £100 of fuel
AS THE COST of living crisis continues to affect millions across the country, petrol stations aren’t seeing any benefit.
Well, at least those who run the forecourts aren’t because, as one Facebook user explains, they actually make surprisingly little each time you fill up.
The news comes as a warning was issued last week that petrol prices could soon reach £2 a litre.
Simon Williams, a spokesperson for the RAC, told Sky News: “The cost of filling a 55-litre family car with petrol has now topped £98 for the first time in history.
“With analysts predicting that oil will average $135 a barrel for the rest of this year drivers need to brace themselves for average fuel prices rocketing to £2 a litre which would mean a fill-up would rise to an unbelievable £110.
“We strongly urge the Government to take drastic action to help soften the impact for drivers from these never-before-seen pump prices.”While the RAC is warning of record-breaking prices, you’d be wrong to think that the people who own the petrol stations are making money.
One Pembrokeshire-based petrol station representative at Brian Llewelyn A’i Ferched garage took to Facebook to share their surprising profit margins.
The representative said: “Tonight we had one customer turn up after we had put the pole signs off, as we were closing.
“This person pulled up to the pump, saw it was £1.93.9 per litre. They came into the shop and said, ‘I was going to put fuel in but not at that price.'”
“I said I’m sorry, but it’s not my fault.”The insider then proceeded to break down how much profit they made from petrol: “For everyone that is thinking that it is the petrol forecourt themselves that are making the money at the moment, here’s a quick breakdown of how little forecourts actually make from the price of fuel.”
And here’s the math to prove it: “For example £100.00 of diesel @ £1.939 ppl [price per litre] = 51.57 Ltr of diesel.
“51.57ltr x 4p (4ppl profit) = £2.06.
“If the £100.00 (51.57ltr) is then payed using a credit card = £100.000 x 1.69% = £1.69 (interest charged per transaction by card firm) £2.06 – £1.69 = 37p PROFIT.
“And that is before you take out overheads i.e electric, maintenance and staffing.”
So, there you have it, petrol stations aren’t exactly rolling in it either as prices continue to climb.
Business
Kurtz addresses Employment and Skills Convention
SENEDD Member Samuel Kurtz kicked off an Employment and Skills Convention at the Cardiff City Stadium recently, organised by the Learning and Skills Institute. The event sought to unite organisations, businesses, and training providers to discuss critical issues surrounding employment and skills development across Wales.
The convention featured a panel of distinguished speakers, including local Samuel Kurtz MS, who is the Shadow Minister for the Economy and Energy; Rhys Morris, Managing Director of The Busy Group; and Megan Hooper, Director for Employment and Skills at Serco. Together, they explored strategies for increasing employment and the positive impacts this can have on individuals, young people, and the broader community.
Following the event, Samuel Kurtz said: “It was a privilege to speak at this convention and to underscore the vital role of collaboration between government and the private sector in aligning skills and training with the evolving needs of our economy.
“By enhancing skills and creating jobs, we can foster a resilient workforce that will not only meet today’s demands but also drive essential green infrastructure projects, ensuring a prosperous future for young people in Wales.
“Welsh Government Ministers must acknowledge their role in addressing high levels of economic inactivity. Introducing employment targets is essential to support people in re-entering the workforce and contributing to Wales’ economic growth.”
Business
Homebase enters administration, putting 2,000 jobs at risk
HOMEBASE, the beleaguered home improvement chain with stores in Haverfordwest and Bridgend, has collapsed into administration, placing 2,000 jobs in jeopardy. The company has struggled with rising costs and shifting consumer demand, which led to the closure of other Welsh stores in Newport, Brecon, Mold, and Cardiff in recent years.
Hilco, Homebase’s owner, had been attempting to sell the struggling retailer but failed to secure a complete buyer. The owner of The Range, CDS Superstores, has agreed to acquire up to 70 Homebase locations along with the brand itself, protecting approximately 1,600 jobs. However, this deal leaves 49 stores without a buyer, with thousands of additional jobs at risk in stores and at the head office. Teneo, the appointed administrators, declined to specify which locations face potential closure.
For now, the 49 stores will continue trading as Teneo seeks a buyer, with no immediate redundancies planned. In the new arrangement, CDS Superstores has acquired Homebase’s brand name and intellectual property, ensuring the Homebase brand will persist online, while physical stores will convert to The Range.
Damian McGloughlin, CEO of Homebase, described the past three years as “incredibly challenging” for the DIY sector. He cited the downturn in consumer spending following the pandemic, persistent inflation, global supply chain disruptions, and unusual weather patterns as factors that impacted Homebase’s performance. Despite restructuring and investment efforts, the business has not been able to turn its fortunes around.
Teneo joint administrator Gavin Maher acknowledged the uncertainty this announcement brings, urging any interested buyers for the remaining stores to make contact.
The current administration marks the end of a troubled chapter for Homebase, which Hilco bought for £1 in 2018 after Wesfarmers, its previous owner, admitted to several strategic missteps, including underestimating winter demand and cutting popular product lines. Homebase reported an £84.2 million loss last year, highlighting its continued financial struggle amid competition from budget-friendly rivals such as B&M and Home Bargains, which have thrived in the value-driven market.
Homebase was founded in 1979 by Sainsbury’s and the Belgian-owned department store chain GB-inno-BM. Over the years, it expanded rapidly, absorbing the Texas Homecare chain in the 1990s before changing hands several times in the 2000s.
Business
Bluestone National Park Resort pledges support to armed forces community
BLUESTONE National Park Resort has signed the Armed Forces Covenant to pledge its commitment to the UK Armed Forces as the country commemorates Armistice Day.
Bluestone, which employs several former armed forces personnel, marked Armistice Day on 11, with a commitment to reaching gold status on the covenant.
The Armed Forces Covenant is a promise by the nation to ensure that those who serve or have served in the armed forces and their families are treated fairly.
The Covenant aims to eliminate disadvantage and ensure that no member of the armed forces community faces discrimination in providing public and commercial services compared to any other citizen.
Glenn Hewer, Head of Sales at Bluestone, is a former Royal Marine who volunteers with the Milford Haven Sea Cadets and Royal Marines. He said: “More and more employees recognise the importance and significance that former armed personnel have and play in their communities and workplaces. The covenant is a commitment to them and a recognition of what they and their families have sacrificed for us.
“Additionally, ex-forces personnel make great employees in all walks of life. They are highly trained in a wide range of skills and bring many benefits to businesses. Providing an opportunity that allows them to further their careers outside the military is a great way of supporting them and their families.”
This commitment has also led Bluestone to join the Defence Employer Recognition Scheme (ERS) Bronze award. The ERS encourages employers to support defence and inspire others to do the same. It encompasses bronze, silver, and gold awards for organisations that pledge, demonstrate, or advocate support for defence and the armed forces community.
Marten Lewis, Director of Sustainability at Bluestone National Park Resort who is also a veteran of the Royal Engineers, said: “At Bluestone, we deeply value the contribution of the Armed Forces community to our country.
“We are proud to sign the Armed Forces Covenant and demonstrate our commitment to supporting them. We believe it’s important to recognise the sacrifices made by service personnel and their families and ensure they are treated with the respect and fairness they deserve. We are committed to attaining the Gold ERS as we build our relationship with the armed forces community.”
Craig Middle, Regional Employer Engagement Director at the Ministry of Defence, said: “We are delighted that Bluestone National Park Resort has signed the Armed Forces Covenant and is committed to supporting the Armed Forces community. This is a fantastic example of a business recognising the value that serving personnel, veterans and their families bring to the workplace and wider society.”
Marten added: “The Armed Forces Covenant is a living document, and Bluestone is committed to updating its pledge to reflect its ongoing support for the Armed Forces community.”
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