UK supermarkets have more than doubled their margins on fuel since the start of the war in Ukraine, according to recent data from the RAC..
Before the conflict, Asda, Tesco, Morrisons and Sainsbury’s were making a margin of just under 5p (4.7p) per litre on fuel, with 3.7p for petrol and 5.7p for diesel.
However, these margins have now more than doubled to 10p (9.3p for petrol and 10.8p for diesel), leading to higher pump prices according to the report.
Lower fuel prices helped drive a drop in the Consumer Prices Index measure of inflation last month to 7.%, down from 8.7% in May.
RAC fuel spokesman Simon Williams said the decline could have been even sharper if supermarket pump price reductions were “in line with cheaper wholesale costs”.
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He said: “We accept the cost of running forecourts might have increased, but these bloated margins must make difficult reading for millions of drivers battling the rising cost of living.
“In short, this means everyone is paying more than they should be to a lesser or greater extent depending on where they live.
“We hope artificially high pump prices will become a thing of the past due to the actions promised by the government from the Competition and Markets Authority (CMA) report this month that showed supermarkets had overcharged drivers to the tune of £900m last year.
“Their recommendation that a price monitoring body is set up and that retailers are mandated to provide live prices for fuel finder apps is very welcome and long overdue.”
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This needs to make national news and ran with instead of the news reporting celebrities affairs. Also each of the supermarkets need a very hefty fine of 10’s of millions to deter them from future profiteering
they should. bring back. the board who use to say what u are around to sell for I went in one shop the other. day. went in one more shop it was 30p. cheaper I know it does not seem a lot but across days and weeks. it has. up