UK retailers accused of ripping off motorists as fuel margins ‘remain far above historic levels’ | Competition and Markets Authority

Retailers are accused of over -charging in the pump by the UK’s competitive observer in the signs that companies increase profits at the expense of consumers.

The latest competition and Markets Authority (CMA) monitoring report found that the average cost of gasoline has increased to 1.9pa liter 133.9p from the end of May to the end of August and the diesel increased 3.5p to 141.9p.

The CMA said that some of the increase could be attributed to an increase in wholesale oil costs-Brent crude oil price is almost two months old.

However, the difference between fuel margins – what a retailer pays for fuel and selling in the pump – he said he was worried that he would remain far above historical heights.

Dan Turnbull, the senior director of the markets in the CMA, said, “Our new report shows that drivers in the UK paid more on the pump.” “Although the latest price increases are partially explained by an increase in the oil price, fuel margins, which are a fundamental indicator of retailers’ profit, remain well above the historical levels.”

The monitoring report found that the margins of supermarket retailers from April to June increased between 8% and 9.1% in a quarter.

The margins of other gasoline retailers increased from 9.9% to 10.6% in the same period.

In 2017, CMA said that the margins of supermarket retailers were 4%, but an average of 8.4% in the first half of this year.

SUPERMARKET Fuel margins were 6.4% in 2017, but an average of 9.8% in the first half of this year.

CMA, monitoring does not include developments in operating costs, he said.

AA’s Pump Prices Spokesman Luke Bosdet said: “They tried to strengthen the British consumers and budgets faced by inflationary pressures on all fronts with the approval of their suspicion – they continue to disintegrate in the pumps.

“This is the most obvious sign of this, the post -code lottery of the pump prices between neighboring towns. This is the place where the price match between local competitors allows them to pay significant more from a town on the road.”

Full review of fuel retailer operating costs will be announced in the CMA’s first -year Road Fuel operating report at the end of this year.

RAC said that CMA’s follow -up by fuel retailers did not result in better prices for consumers.

“Unfortunately, CMA’s ongoing examination seems to have little effect on changing retailers, Simon said Simon Williams, the head of the automobile body. “The hope of seeing more competitive prices on the country’s foresight is now based on the government’s fuel finder plan.

The government aims to launch a fuel finder scheme that will allow drivers to compare real -time fuel prices in applications and online by the end of the year.

“[This will] As drivers are strengthened with real -time pricing data, it makes shopping easier than ever by pushing retailers to be more competitive. ”

CMA said that the UK drivers had paid £ 1.6 billion more than they had in 2023.