MOTORISTS are facing rip-off prices at the petrol pumps as they are hit by “deeply concerning” fuel margins, the regulator says.
Petrol stations came under fire yesterday over the difference they pay for fuel and what price they sell it on to consumers.
Industry figures hope the Government’s fuel finder scheme will lead to more competitive pricing when it’s in operation by the end of the year.
Drivers will be able to compare real-time fuel prices in navigation apps, in-car devices and comparison websites.
But it has emerged that supermarkets’ fuel margins ranged from 8 per cent to 9.1 per cent in the three months to the end of June.
This compared to just 4 per cent back in 2017, the Competition and Markets Authority found.
Other retailers’ margins varied from 9.9 per cent to 10.6 per cent.
The average price of a litre of petrol rose by 1.9p to 133.9p from the end of May to the end of August.
A litre of diesel increased in price by 3.5p to 141.9p over the same period.
Luke Bosdet, AA spokesman, said: “UK consumers facing inflationary pressures on all fronts will be incensed by this confirmation of what they suspected – they continue to be ripped off at the pumps.
“The most blatantly obvious sign of this is the postcode lottery of pump prices between neighbouring towns.
“This is where price-matching between local rivals often, in effect, gives them permission to charge significantly more than in a town down the road.”
The CMA’s Dan Turnbull said: “Our new report shows that drivers across the UK have been paying more at the pump in recent months.
“While recent price rises are partly explained by an increase in the price of oil, what’s deeply concerning is that fuel margins – a key indicator of retailer profit – remain far above historic levels.”
Motorists are facing rip-off prices at the petrol pumps as they are hit by ‘deeply concernin’ fuel margins, the regulator says[/caption]
