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Chip oil recycler shut by tough market

A drop in oil prices combined with tougher credit terms have forced a Merseyside-based used food oil recycler into administration. Refuel Energy, which produces biodiesel from used chip fat, suffered reduced profit margins when the cost of its vegetable oil feedstock increased. While costs increased, the price consumers were paying for end-product fuel oil reduced as prices dropped around the world. This squeezed profit margins.In normal trading ...