The Neilston Gas Station Offering Locals Low

John Robb of John Robb & Son in Neilston, East Renfrewshire, is offering unleaded gasoline for 168.9 pence per liter and diesel for 183.9 pence per liter, which are among the lowest prices in the region. He claims that his company is doing so to alleviate locals' concerns about poverty.

Major retailers have been criticized for failing to pass on a decrease in wholesale prices to consumers. According to the RAC, average gasoline pump prices decreased by nearly 9p in July to 182.69p per litre, while diesel prices decreased by nearly 7p to 192.38p per litre.

However, the motoring lobby contends that motorists continue to spend too much at the pump in comparison to wholesale costs, which have decreased by 20p over the past eight weeks. It is stated that the price of gasoline should be approximately 167 pence per liter. Mr. Robb quickly lowered his gasoline and diesel pricing to reflect the most recent weekly wholesale cost.

When asked why he did not delay price cuts like other larger companies, the business owner told BBC Scotland, "We're in a tiny community, and that reflects poorly on you."

We are here permanently. We're not here for a quick buck. "We're here to assist the community just as much as they support me."

He claims that the gas station, which has been in his family for four generations, is not making any money from fuel sales, adding, "It's a break-even operation at the moment."

The plan does have rewards, as the Neilston company has seen an increase in the number of clients visiting its workshop. Mr. Robb stated, "It generates significant revenue." "You usually know because the first individuals to arrive are taxi drivers. Therefore, they must broadcast it over radio.

The presence of several taxis is always an indication of a competitive market.

In a neighborhood that is struggling with a high cost of living, lower costs are appreciated. "People are not shy about expressing their opinions about prices," Mr. Robb stated.

He continued, "Most of the conversation is humorous, but you can sense the fear and concern on their faces, as fueling a car with gas is a significant price these days."

The proprietor of a firm in Neilston suggested that forecourt managers' reluctance to reduce pricing may have been due to marginal profits. "Over the years, we've all been operating on a razor-thin margin, and it's possible that some individuals are attempting to recoup their losses," he said.

"This is not a business you should enter. We are currently a four-generation enterprise. It has always existed, and we will continue as long as we can meet our expenses. It could not support a living. It is a no-return venture. This is why there are so few remaining sites."

Comments

The economy of Malaysia is expected to slow down in 2023.

According to statements made by analysts on Thursday, the economy of Malaysia will slow down in 2023 as a result of adverse external conditions and a slowdown in internal demand. According to Xinhua news agency, the Maybank Investment Bank Research said in a research that it anticipates Malaysia's full-year growth to drop to 4 percent in 2023 from the growth prediction of 8 percent in 2022. This is mostly reflective of a moderation in domestic demand. As pent-up spending from the complete economic re-opening evaporates next year, the research house anticipates slower growth in private consumption. This will be compounded by the effects of high inflation and high interest rates on the cost of living and real disposable income. It also forecasts a slowdown in the expansion of private consumption, which is expected to be in line with the reduced allocation for government operating expenses in Budget 2023. In addition, it was said that the forecast for slower global economic developmen...

WazirX Exchange is accused by Indian law enforcement of helping to launder $130 million.

The department in charge of combating financial crimes in India, the Enforcement Directorate (ED), is investigating cryptocurrency exchanges that may have handled transfers from companies under investigation to foreign wallets totaling more than 10 billion rupees, or roughly $130 million. According to a representative who talked with The Economic Times, at least ten cryptocurrency exchanges are allegedly implicated, and WazirX's bank accounts have been seized. Companies under investigation in a case involving rapid loans allegedly executed transactions totaling up to 1 billion rupees ($1.3 million) in the names of individuals with no relation to the money. These businesses frequently had ties to China. The transactions were revealed to be suspicious by Know Your Customer/Anti-Money Laundering (KYC/AML) processes, but no increased due diligence was carried out and no suspicious transaction notifications were submitted to the ED, according to the agency. Last week, the ED allegedly c...

After major averages extended their losses to start the week, stock futures continued their downward trend.

The stock market futures went in the opposite direction on Tuesday morning, falling after the Bank of Japan indicated that it will increase the yield target range. The Dow Jones Industrial Average futures market experienced a loss of 236 points, or 0.72 percent. Futures contracts for the S&P 500 and the Nasdaq 100 both had a decline of 1.05% and 0.86%, respectively. On Monday, ordinary trading on the Dow Jones Industrial Average resulted in a loss of more than 162 points, or around 0.5%. The S&P 500 had a loss of 0.9%, while the Nasdaq Composite dropped almost 1.5%. The stock market is currently on track to finish the month and the year with a loss, and investors' expectations for a Santa Claus surge are rapidly diminishing. There has been no sign of Santa Claus as of yet. Louis Navellier, the founder of the growth investing firm Navellier & Associates, once advised his clients to "buckle up." "One would want to think that all of the bad news has been rep...

Search This Blog