- September 27, 2021
- Posted by: Stratford Team
- Category: Business
During the meeting, attendees discussed issues caused by supply chain pressures and spikes in localised demand.
As a result, Businesses Secretary Kwasi Kwarteng has this evening agreed to implement a measure to temporarily exempt industry from the Competition Act 1998 for the purpose of sharing information and optimising supply.
Known as The Downstream Oil Protocol, this step will allow Government to work constructively with fuel producers, suppliers, hauliers and retailers to ensure that disruption is minimised as far as possible.
The measure will make it easier for industry to share information, so that they can more easily prioritise the delivery of fuel to the parts of the country and strategic locations that are most in need.
Business Secretary Kwasi Kwarteng said:
We have long-standing contingency plans in place to work with industry so that fuel supplies can be maintained and deliveries can still be made in the event of a serious…