New Powers for Competition & Markets Authority

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NEWS - 15 NOVEMBER 2023

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.”

[nelliethehooker]

Looks like good news, just have to hope that the powers are effective enough to bring down the price of fuel.

[Riggers]

Let’s wait and see what happens. Not holding my breath!

[oneputt]

Hope it works. The cheapest diesel where we live is a Shell garage at £1.55/ltr

[nelliethehooker]

Hope it works.  The cheapest diesel where we live is a Shell garage at £1.55/ltr

That's better than around here where the cheapest is £1:58/ltr, and that's at Tesco.

[Riggers]

Hope it works.  The cheapest diesel where we live is a Shell garage at £1.55/ltr

That's better than around here where the cheapest is £1:58/ltr, and that's at Tesco.

We are at £1.54 per litre at Tesco this morning.

[nelliethehooker]

Hope it works.  The cheapest diesel where we live is a Shell garage at £1.55/ltr

That's better than around here where the cheapest is £1:58/ltr, and that's at Tesco.

We are at £1.54 per litre at Tesco this morning.

It's a bit far to come to save 4p a ltr! Spotted that Asda had dropped its price to match that of our Tesco today after being 2p dearer yesterday.