The Competition and Markets Authority (CMA) has issued a fresh warning to UK drivers who filled up between May and June, after finding that some retailers were too slow to pass on fuel price falls. The watchdog raised concerns about "passive pricing strategies" used by some petrol stations, which meant drivers did not benefit from reductions in wholesale prices.
CMA monitoring finds delayed price cuts
In its latest update, the CMA said it found that some retailers did not immediately pass on falls in wholesale prices to drivers between May and June. The authority's chief executive, Sarah Cardell, said: "We know prices at the pump are putting real pressure on drivers' pockets and our monitoring plays an important role in giving drivers confidence that retailers are not taking advantage of the conflict in the Middle East."
Cardell added: "We will continue to monitor prices and margins closely and expect any reductions in wholesale prices to be rapidly and fully passed on to drivers. In the meantime, Fuel Finder can help drivers save money when they fill up."
Motoring groups respond to CMA findings
The AA said the CMA's update "once again highlights some failures to not charge a fair price for petrol and diesel – at the expense of everyday drivers". The AA's president, Edmund King, said: "Clearly, some fuel retailers are prepared to pass on lower costs promptly and help their customers. But many more, including large numbers of supermarkets, are not."
The RAC's head of policy, Simon Williams, said: "It's very concerning that margins on fuel remain historically high, competition is still lacking and that some retailers were deemed not to have reduced prices as quickly as they should have when the diesel wholesale price fell earlier in the summer."
Call for further investigation and regional comparison
Williams also expressed support for the CMA's next steps: "We're therefore pleased the CMA is going to be taking a closer look at retailer pricing strategies and whether wholesale price changes are reflected at the pumps fast enough." He urged the watchdog to compare fuel retailing in Northern Ireland with the rest of the UK, noting that petrol and diesel are currently being sold there for an average of 8p less a litre – meaning the cost of filling a family car in Northern Ireland is around £4.40 less than elsewhere. "If fuel can be sold there at lower prices, then it seems drivers elsewhere aren't being treated fairly," he added.
The CMA's monitoring will continue, and the authority expects retailers to pass on wholesale price reductions promptly. Drivers are encouraged to use the Fuel Finder tool to save money at the pumps.
