Fuel revenue margins nonetheless persistently excessive, says watchdog | EUROtoday

Petrol and diesel revenue margins stay at “persistently high levels” regardless of costs on the pump having fallen, in accordance with the UK’s competitors watchdog.

The Competition and Markets Authority (CMA) additionally challenged retailers’ claims that this was a results of increased working prices.

In its first annual street gas monitoring report, the CMA mentioned competitors within the sector was “weak”.

It mentioned if there was extra competitors, drivers would see higher gas costs on the pump.

Petrol was 136.8p per litre final week, in accordance with authorities monitoring, whereas diesel was 146.1p per litre.

The CMA report was printed as the federal government prepares to launch its “fuel finder” scheme, which can enable drivers to check real-time gas costs.

Retailers must signal as much as the scheme and report value modifications inside half-hour of them being applied.

Dan Turnbull, senior director of markets on the CMA, mentioned: “Fuel margins remain at persistently high levels – and our new analysis shows operating costs do not explain this.

“We know gas prices are an enormous problem for drivers, particularly right now of 12 months with hundreds of thousands making journeys throughout the nation.”