Petrol fuel prices

Fuel prices are to be investigated by Britain's competition watchdog as pump prices hit another record high despite chancellor Rishi Sunak's 5p per litre ...

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Fuel retailers are being investigated by the Competition and Markets Authority (CMA) to see why a 5p duty cut is not being seen at the pumps.

Andrea Coscelli, chief executive of the Competition and Markets Authority (CMA), said record petrol and diesel prices are “causing significant concern” for ...

"Diesel's relentless surge in costs remains a nightmare, with its knock-on impact for the cost of delivery of goods and services, and therefore inflation." The average price of diesel was 190.9p per litre on Sunday. Figures from data firm Experian show the average price of a litre of petrol at UK forecourts climbed to a record 185.0p on Sunday.

Retailers say they have been "unfairly scapegoated" for soaring fuel prices.

You can also get in touch in the following ways: Retailers base their prices on the wholesale cost of petrol and diesel but there is typically a two-week lag for pump prices to reflect any changes in wholesale prices due to the time it takes for fuel to reach forecourts. The AA said the wholesale price of petrol had been lower than its peak before the Jubilee bank holiday for more than 10 days and "petrol prices should be grinding to a halt, at least temporarily, by the end of the week". "Petrol retailers have been unfairly scapegoated for rises in the wholesale price of fuel over which they have no control," he added. The Petrol Retailers Association said the cut had been passed on and its members were operating on "razor thin margins" due to rising wholesale costs. Petrol stations say they have been "unfairly scapegoated", after the government raised concerns a 5p fuel duty cut was not being passed on quickly enough to drivers.

The competition watchdog has stepped in after the government called for an 'urgent' investigation into petrol station pricing after a week of pain at the ...

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Competition and Markets Authority to conduct urgent review of how prices are set at the pump.