The boss of Asda, the UK’s second largest fuel retailer, on Friday said the conflict was affecting fuel supplies in some locations.
Executive chairman Allan Leighton said a small number of individual petrol pumps on its forecourts had been left temporarily out of use following bumper demand as a result of the recent price volatility.
The retailer has not closed any forecourts as a result of the conflict and expects any affected petrol pumps to be back in use after its next delivery.
“Our fuel volumes are up quite significantly and clearly demand has been outstripping supply,” he said.
“Supply is tight and we are all trying hard on that.”
The Petrol Retailers Association (PRA) said the situation amongst suppliers it represented had remained “stable”.
“Industry and government remain in regular contact to monitor deliveries and stock levels in the UK as well as the situation internationally,” said PRA director Gordon Balmer.
Leighton also denied suggestions fuel retailers were taking advantage of the spike in prices to boost their own profits after the government said it would clamp down on any retailers who tried to “rip off” customers.
He said Asda’s profit margins were down as a result of the recent spike in prices and that it was “very clear” that it was not a case of profiteering.
“The government is getting a lot of money off the back of this, and before they start accusing people of profiteering, just in my book, there’s no credibility in any of it,” Leighton said.
“You don’t have to be Einstein to work out that that actually is impossible in the current situation.
“I think the government needs to look at what it is doing instead of pointing the finger at everybody else.”