Drivers still being overcharged for fuel, watchdog finds [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
The Competition and Markets Authority (CMA) found that petrol and diesel prices have been creeping up since January, causing more misery for motorists. It added that a sustained increase in fuel margins – the difference between what a retailer pays for its fuel and what it sells at – was “concerning”. Supermarket margins stood at 7.8pc last year, up from 7.6pc in 2022 and just 4pc in 2017. For other retailers, margins were 9.1pc last year, up from 6.4pc in 2017. The Government is consulting on fuel prices and has proposed a nationwide “pumpwatch” scheme that would allow drivers to access real-time price data on mobile devices and through services such as Google Maps. The CMA has begun collecting data from supermarkets and forecourt operators including Asda, BP, Morrisons, Sainsbury's and Shell. But the interim scheme remains voluntary and the regulator called on ministers to push ahead with a statutory system to help drive greater competition. The CMA's report found that
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