Competition and Markets Authority to get new powers to improve competition in the road fuel market - RAC reaction
Following news that new amendments have been tabled to allow the Competition and Markets Authority (CMA) to monitor road fuel prices and reporting any sign of malpractice to the government, RAC fuel spokesman Simon Williams said:
“We welcome the CMA being given new powers to take action against retailers that don’t pass on the savings they benefit from when wholesale fuel costs fall significantly. Due to our long-term monitoring of retail and wholesale prices, we have been calling for fairer, more transparent pricing for years.
“While the CMA’s report concluded the supermarkets had overcharged to the tune of £900m last year, our data shows this behaviour is continuing to this day with supermarket fuel margins more than double what they were before the pandemic.
“These new powers can’t come soon enough because, as it stands, the Treasury’s 5p-a-litre fuel duty discount is not making it to drivers at the pumps.”
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