Orders for investigation of petrol pump operators amid concerns about prices

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The Business Secretary has ordered an “immediate” probe into service station operators amid fears some are slashing fuel tariffs to billions.

In a letter to the Competition and Markets Authority (CMA), Quasi Quarteng wrote that people were “rightly disappointed” that the 5 paise per liter reduction hadn’t stopped the price hike.

Citing regional differences in petrol prices, the MP from Spelthorne sought recommendations to “enhance competition” in the petrol market through early July.

Mr Quarteng said: “Drivers should be getting a fair deal on fuel across the UK.

I am writing to request that the CMA conduct an urgent fuel market review…to determine whether the retail fuel market has adversely affected consumer interests

“Brits are rightly disappointed that a £5billion package hasn’t always passed through petrol station prices.

“I am writing to request that the CMA conduct an urgent fuel market review … to determine whether the retail fuel market has adversely affected consumer interests.”

The competition watchdog had previously sold many gas stations to Asda and Morrison as part of a private equity takeover.

Last Tuesday, data company Experian Catalyst said the average price of petrol at the pump had hit a record 180.7 pence.

AA’s road transport policy chief Jack Cousens welcomed Mr Quarteng’s move but called for “more immediate action”.

“We need an immediate 10p cut in fuel levy to ease the pressure on the pumps,” he argued.

“In the longer term, the CMA should consider extending the available pump price transparency in Northern Ireland to the rest of the UK.

“The Consumer Council’s fuel price checker encourages competition and allows drivers to enjoy some of the lowest fuel prices in the UK.”

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TransportationFuel Price ConcernsCompetition

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