BP and Tesco ration fuel at some petrol stations, as inflation rise is predicted

In This Story: Bank of England

The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government’s banker, and still one of the bankers for the Government of the United Kingdom, it is the world’s eighth-oldest bank.

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In This Story: BP

BP plc (formerly The British Petroleum Company plc and BP Amoco plc) is a British multinational oil and gas company headquartered in London, England. It is one of the world’s seven oil and gas “supermajors”.

Stock tickers: (LSE: BP., FWB: BPE, NYSE: BP, FTSE 100 component (BP.))

BP’s origins date back to the founding of the Anglo-Persian Oil Company in 1908, established as a subsidiary of Burmah Oil Company to exploit oil discoveries in Iran. In 1935, it became the Anglo-Iranian Oil Company and in 1954, adopted the name British Petroleum.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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In This Story: Tesco

Tesco plc [TSCO (LON)], trading as Tesco, is a British multinational groceries and general merchandise retailer headquartered in Welwyn Garden City, England. It is the third-largest retailer in the world measured by gross revenues and the ninth-largest in the world measured by revenues.

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