Following a request from the Secretary of State for Business, Energy and Industrial Strategy, the Competition and Market Authority (CMA) have launched a review into the practices of the retail fuel market.
Following global pressures, including the impact of Russia’s invasion of Ukraine, fuel prices have grown to unprecedented levels, contributing significantly to the growth in the cost of living. The Government have provided support to motorists by cutting fuel duty by 5p per litre however there is growing concern that this saving has not always passed through to consumers at the forecourt. There is also concern that the market is not operating as it should, with prices remaining higher in some towns than in similar and nearby towns.
The CMA have confirmed that they will conduct a short and focused review of the market in order to provide advice to government on steps to improve outcomes for consumers.
Julia Lopez MP has already advised the CMA of concerns that two local garages are raising prices in connection with one and other in such a way as to prevent local competition. The CMA have confirmed that they will be formally investigating this issue which will be of relevance to their wider review of the market.
Any constituents that wish to highlight anti-competitive behaviour from fuel retailers are encouraged to report this to the CMA directly at: https://www.gov.uk/cma-cases/uk-fuel-retail-market-review