Supermarkets are making twice as much on fuel sales as they did in 2019, according to the Competition and Markets Authority.
The CMA has updated its action to ensure that people can get the best possible choices and prices in the face of ongoing cost of living pressures. This new analysis highlights the persisting cost to drivers of weakened competition in the fuel sector.
It says retailers’ fuel margins are still significantly above historic levels, leaving supermarkets’ fuel margins roughly double what they were in 2019.
When the CMA published its road fuel market study report, it recommended development of a smart data driven fuel finder scheme be set up to make prices available to motorists across the UK in real time, such as through map apps and sat-navs. This will be backed up with ongoing monitoring by the CMA to hold the sector to account. This scheme could save drivers up to £4.50 each time they fill up, as it would make it easier to find cheaper fuel in their area.
Legislation – which is needed to establish the scheme fully – may take time to come into force. So that motorists can start to benefit from quicker, easier access to fuel prices through everyday apps sooner, the CMA encourages the government to introduce an enhanced interim voluntary scheme that is as close to the final scheme as possible.
