Petrol Panic Buying Boosted UK Retail Sales, Figures Reveal
The said monthly increase seen on automotive fuel stores was 4.2%, recorded as the largest since January of 2011, the time when motorist get back to the roads again after the winter during December.
The said increase in sales was the result of panic buying from consumers who purchase bulk fuel to prepare for an expected fuel price hike in the later part of the month.
In the clothing industry, there was also a boost in sales as shoppers buy their summer wardrobes earlier in March due to an unseasoned warmer weather, ONS said. The recorded sales increase on clothing and shoe stores have moved up by as much a 2.8% on the month.
Although the petrol panic evidently contributed a lot on the sales boost, analysts said that the overall retail sales figures was going well this year, with 3.3% higher rate than 2011.