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Competition watchdog calls out supermarkets
Auto Express
|July 12, 2023
OFFICIAL Retailers accused of failing to respond to fall in wholesale prices
UK supermarkets present themselves as the canny shopper's best friend, but they continue to fleece drivers at the fuel pumps. That's the implication of a report by the Competitions and Markets Authority (CMA), after a year-long investigation into UK road fuel pricing. Highlighting the huge increase in margin raked in by supermarkets as wholesale fuel prices fell faster than pump prices, the CMA recommended measures to deal with "weakening competition".
Last month, Asda promoted its 'price lock for summer', which promised to "give customers more control over what they spend each week". Unfortunately, two products where Asda customers can't "take control" are petrol and diesel, and the CMA watchdog called out the supermarket for seeking to more than triple its profit margins on fuel.
This story is from the July 12, 2023 edition of Auto Express.
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