Drivers still facing rip-off prices at pumps as retailers’ fuel margins remain concerning, says watchdog
MOTORISTS still face rip-off prices at the pumps as retailers’ fuel margins remain concerning, the competition watchdog says.
They are being hit by the same high fuel charges seen during the pandemic, which has been labelled as “not a good sign for drivers”.
The fuel margins — the difference between what is paid for fuel and what it is sold at — has increased across supermarkets and other retailers.
Supermarkets had margins of four per cent in 2017. In 2023 they were at 7.8 per cent.
Other retailers recorded margins of 6.4 per cent in 2017 and 9.1 per cent last year.
The Competition and Markets Authority’s Dan Turnbull said: “Drivers are feeling the pinch as fuel prices have been edging up since January.
“We’re particularly concerned by high margins which indicate weakened competition and are not a good sign for drivers.
“Today’s report reinforces the need for Pumpwatch and statutory powers to be in place as soon as possible, to ensure competition is effective in this market and to get a better deal for UK drivers.”
The report, which gives The Sun’s Keep It Down campaign a boost, covers prices from the end of October to the end of February.
Energy Secretary Claire Coutinho said: “We have been crystal clear: petrol and diesel retailers must pass on savings at the pump.
“Alongside the CMA, we’re bringing competition back to the forecourt.
“Our Pumpwatch scheme will soon force retailers to share real-time price data and make sure drivers get the best deal.”