RAC reacts to CMA announcement that fuel margins have increased across the retail market
The Competition and Markets Authority has today confirmed that retailer margins on fuel have increased. The CMA is also concerned there is evidence of weaker competition in diesel, as compared with petrol, since the beginning of 2023. In addition, it is going to conduct formal interviews with the supermarkets’ senior management in order to get to the heart of the issues.
RAC fuel spokesman Simon Williams said: “We are very pleased to hear that the Competition and Markets Authority has confirmed what we have been saying for a long time about the biggest retailers taking more margin per litre on fuel than they have in the past. Currently, the average price of diesel is more than 20p a litre overpriced simply because they refuse to cut their prices. The wholesale price of diesel is actually 4p lower than petrol, yet across the country it is being sold for 9p a litre more – 154.31p compared to 144.95p for unleaded.
“Something badly needs to change to give drivers who depend on their vehicles every day a fair deal at the pumps. We hope even better news will be forthcoming later this summer.”
