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No evidence of widespread fuel price-gouging, says watchdog

www.bbc.com·Jemma Crew·about 1 month ago
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#fuel#retailers#margins#march#prices#photo
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15 minutes ago Jemma Crew Business reporter Getty Images There is no evidence of widespread price-gouging by UK fuel retailers in the weeks after the US-Israel war with Iran began, the competition watchdog says. The Competition and Markets Authority (CMA) said profit margins overall were "broadly unchanged" between February and March. Prime Minister Sir Keir Starmer at the time said the government was primed to act if fuel companies tried to "rip off customers", but forecourt retailers denied price- gouging was taking place and criticised the use of "inflammatory language". The CMA said its findings indicated "there has not been a widespread issue of retailers earning higher margins" - the difference between what retailers pay for fuel and the price they sell it for - since the war began. But it found that fuel margins increased between February and March for two supermarkets and three non-supermarket retailers.…

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