BBC News | No evidence of widespread fuel price-gouging, watchdog says
AI generated summary, Read the full article for complete information.
The Competition and Markets Authority (CMA) reports that there is no evidence of widespread price‑gouging by UK fuel retailers in the weeks after the US‑Israel war with Iran began, with average retail margins between February and March remaining broadly unchanged and close to the 10.7 pence per litre average of the previous year. While a few supermarkets and non‑supermarket retailers saw margin rises that the CMA will investigate further, overall retail margins have not systematically increased, and any higher pump prices are attributed to higher wholesale oil costs stemming from the conflict‑driven surge in global energy prices. The regulator noted significant local price variation, suggesting drivers could save up to £9 per tank by shopping around, and pledged to stay vigilant to ensure any fall in wholesale costs is passed on to consumers.
Read more: https://www.bbc.com/news/articles/c62djjj0z09o?at_medium=RSS&at_campaign=rss
#CMA #Israel #MartinMcCluskey #SarahCardell