Today the results of the UK referendum were announced with 51% of voters opting to leave the European Union. The politico-economic union of 28 member states was first established in 1957 with the UK joining in 1975.
The UK’s exit will be negotiated over a two-year period. Immediately after the announcement Prime Minister David Cameron, who campaigned to remain in the EU, announced he would step down from his role in October.
The future is currently unclear but Donald Tusk, EU Council President urged the remaining 27 member states to remain calm and not to make ‘hysterical reactions.’ He also conceded that whilst this was not the result Brussels wanted, it was a historical moment for the UK. The remaining member states will meet next week to discuss a future without the United Kingdom.
In a statement today Shell pledged to work with the UK and European institutions to assess implications to their business, they said:
"Although Shell was in favour of the UK remaining in the EU, we respect the decision of the majority of the British people who voted to elect to leave.
"We will work with the UK government and European institutions on any implications for us. Our priority is to continue providing reliable, affordable energy to our customers in Europe and the UK."
So what does the UK’s decision mean for the fuel retail markets in the UK, Europe and across the world
Share your thoughts via email sian@mcleanevents.com or tweet @erpecnewslive
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