STORY
The Competition and Markets Authority has said it has not found evidence that fuel retailers changed their pricing strategies to take advantage of the Middle East crisis. Its latest road fuel monitoring report said higher wholesale prices continued to explain most of the increase in petrol and diesel prices during March and April.
The regulator said weak competition remained a concern, with average margins still historically high for both supermarket and non-supermarket retailers. It will now carry out a more detailed assessment of retailer pricing strategies, with the results expected in the autumn.
The CMA said motorists could still save money by shopping around, particularly as Fuel Finder-backed services develop. The findings come at a politically sensitive time, with fuel costs feeding into wider concerns about household budgets and the effectiveness of market regulation.