UK Competition Watchdog Finds No Widespread Fuel Price-Gouging Since February

The Competition and Markets Authority (CMA) has concluded there is no widespread evidence of price-gouging by UK fuel retailers in the weeks after the US-Israel war with Iran commenced.

CMA Investigation Findings

The watchdog stated that overall profit margins for fuel retailers were "broadly unchanged" between February and March. This assessment follows a CMA announcement in March that it would increase monitoring of petrol and diesel prices, after the conflict led to a sharp rise in wholesale costs.

Prime Minister Sir Keir Starmer had previously indicated government action if fuel companies attempted to "rip off customers." Forecourt retailers, however, denied engaging in price-gouging and criticised the use of what they termed "inflammatory language." The CMA's findings suggest that "there has not been a widespread issue of retailers earning higher margins" since the conflict began.

Despite this, the CMA did identify that fuel margins increased between February and March for two supermarket chains and three independent non-supermarket retailers. Sarah Cardell, CMA chief executive, confirmed, "We are investigating why and will report further in May." The regulator also noted that its findings are situated within a context of "historically high" fuel margins for retailers.