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Weakening competition between petrol station owners has pushed up prices for consumers, the UK’s competition watchdog has warned.
Traditional cost-cutters such as Asda have been trying to boost margins, contributing to higher prices across the sector, according to the Competition and Markets Authority.
The regulator says average supermarket fuel margins have climbed 6 pence a litre between 2019 and 2022, amounting to an extra £900mn in costs for customers of the top-four supermarket fuel retailers.
The CMA is calling for the government to create a scheme that would give motorists access to real-time pump prices for ease of comparison and to monitor prices across the market.
