Calls for a windfall tax on energy firms grew last night after BP revealed it raked in obscene profits of £880 a second. The oil giant made £6.9billion in the three months to June – three times as much as last year.
But as millions struggle with the cost of living crisis, BP’s petrol pumps were found to the UK’s dearest.
The cash bonanza comes after rival Shell and British Gas owner Centrica announced combined profits of nearly £11billion last week, as energy costs soar due to the Ukraine war.
And it brought the quarterly profit tally for the top Western energy firms to £48billion. At the same time, more evidence emerged of the devastating impact of soaring prices on households.
A Nationwide Building Society study found more than a third of people are spending less on food to keep their car on the road. Unite general secretary Sharon Graham branded the oil windfalls an “epidemic of unfettered profiteering”.
Greenpeace UK’s chief scientist said: “While households are being plunged into poverty, fossil fuel companies are laughing all the way to the bank. Government must bring in a proper windfall tax on these monster profits.”
Alan Brown, SNP energy spokesman, said: “The cost of living with Westminster is getting worse by the day, as households across Scotland are being hammered by rising inflation, rising bills and woeful support from the Tory UK government.
“It is important that big companies with big profits play their part in supporting consumers right now.”
Scottish Labour MSP Monica Lennon called the profits “obscene” and added: “Experts fear catastrophic loss of lives this winter unless governments take bold action. We need urgent investment in clean, renewable energy.”
AA data revealed that last month BP forecourts were charging a typical 191.17p a litre for petrol, 2.74p more than the national average.
And consultants Cornwall Insight yesterday warned average energy bills will jump from £1971 to more than £3615 in the new year – and would remain above £3000 a year until 2024.
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