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Fri, 01 May 2026

Fri, 01 May 2026 No evidence of widespread fuel price-gouging, watchdog says

Profit margins were "broadly unchanged" between February and March, the UK's competition watchdog says.

* There is no evidence of widespread price-gouging by UK fuel retailers since the US-Israel war with Iran began.
* Competition watchdog CMA found that average profit margins on petrol and diesel were "broadly unchanged" between February and March.
* However, two supermarkets and three non-supermarket retailers saw an increase in fuel margins during this period.
* The CMA is investigating these cases and will report further in May.
* Wholesale costs are a major factor in determining pump prices, with oil prices reaching their highest level since 2022 due to the conflict.
* Pump prices have fallen slightly but remain higher than before the war, with petrol at 24.2p per litre and diesel at 46.0p per litre more expensive.
* The CMA notes that there are significant local variations in price, with potential savings of up to £9 per tank of petrol and diesel if drivers shop around.
* Minister for Energy Consumers Martin McCluskey says the government will hold retailers accountable if they fail to pass on wholesale cost savings to consumers.