STORY
The Competition and Markets Authority has said sharp rises in petrol and diesel prices have been driven mainly by wider cost pressures, particularly higher oil prices linked to the conflict in the Middle East, rather than a general increase in fuel retailers’ margins.
The regulator’s latest monitoring report found that petrol prices rose by 26p per litre and diesel prices by 50p per litre between February and 20 April. The CMA said average retailer fuel margins were broadly unchanged between February and March, moving from 10.3p per litre to 10.7p per litre, which was close to the average margin recorded during 2025.
However, the watchdog said fuel margins remain historically high, reflecting continued concern that competition in the road fuel market is not working as strongly as it should. It also found that some individual retailers increased their margins in March and said it would investigate the reasons for those rises before publishing a further update in May.
The CMA also highlighted a period of higher margins before the Middle East conflict, with margins reaching 12.7p per litre in December 2025 and January 2026, compared with 10.0p per litre in November 2025. It said it would examine what drove that increase as part of its continuing monitoring work.