Headline : Petrol Stations accused of overcharging drivers by £1.6bn in 2023

Read more from the original article on here at bmmagazine.co.uk.

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The regulator’s findings reveal that fuel margins – the difference between the wholesale cost and the pump price – have remained significantly above pre-pandemic levels.

The CMA highlighted that supermarkets were particularly guilty, with their fuel margins roughly double what they were in 2019. This hike in margins cost drivers an additional £1.6 billion in 2023 alone.

Simon Williams from the RAC described the situation as “nothing short of outrageous,” particularly given the reliance many have on their vehicles. “Drivers have every right to feel ripped off, especially knowing there is virtually no market competition between retailers,” he added.

Last year, the CMA’s review of the road fuel market uncovered that competition among petrol stations was insufficient to drive down costs for motorists. Major supermarkets, including Asda, Morrisons, Tesco, and Sainsbury’s, were criticised for treating drivers as “cash cows,” having overcharged them by £900 million in 2022.

Read more from the original article on here at bmmagazine.co.uk.

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