Petrol and diesel remains ‘stubbornly high’ – London Business News | Londonlovesbusiness.com

The Competition and Markets Authority (CMA) has said drivers are paying more for fuel than they should be.

The watchdog said that fuel remains “stubbornly high” which has higher than historic levels and supermarket fuel margins has risen from 7% in April to 8.1% in August.

The CMA said that non-supermarket fuel margins increased from 7.8% in April to 10.2% in August.

Dan Turnbull, senior director of markets at the CMA, said, “While fuel prices have fallen since July, drivers are paying more for fuel than they should be as they continue to be squeezed by stubbornly high fuel margins.

“We therefore remain concerned about weak competition in the sector and the impact on pump prices.

“With that in mind, we are pleased the Government is progressing with our recommendations.

“These measures will empower drivers to find the cheapest fuel prices wherever they are in the UK, increase competition and support the economy – the more people save on fuel, the more they have to spend in other areas.”