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DRIVERS paid nearly £1billion
more for fuel last year in a rip-
off which saw the average price
rise by 6p a litre.
Customers of Asda, Tesco, Sainsbury's
and Morrisons faced an estimated com-
bined additional cost of 'around £900mil-
lion' as stores admitted pushing up prices
to protect their profits, an inquiry found.
The profit margin on diesel alone soared by
13p a litre in 2022, driving up the cost of trans-
port and inflation across the economy.
As part of the inquiry, Asda has been fined a
total of £60,000 for two offences of failing to
co-operate with the investigation.
The alarming findings result from an inves-
tigation by the Competition & Markets
Authority (CMA), which recommended set-
ting up a pump price comparison service ta
help identify the cheapest garages
Separately, the CMA has called for the
establishment of a government price moni-
toring regime for wholesale prices .
https://financial-news.co.uk/drivers-paid-higher-fuel-prices-due-to-weak-competition-cma-finds/
more for fuel last year in a rip-
off which saw the average price
rise by 6p a litre.
Customers of Asda, Tesco, Sainsbury's
and Morrisons faced an estimated com-
bined additional cost of 'around £900mil-
lion' as stores admitted pushing up prices
to protect their profits, an inquiry found.
The profit margin on diesel alone soared by
13p a litre in 2022, driving up the cost of trans-
port and inflation across the economy.
As part of the inquiry, Asda has been fined a
total of £60,000 for two offences of failing to
co-operate with the investigation.
The alarming findings result from an inves-
tigation by the Competition & Markets
Authority (CMA), which recommended set-
ting up a pump price comparison service ta
help identify the cheapest garages
Separately, the CMA has called for the
establishment of a government price moni-
toring regime for wholesale prices .
https://financial-news.co.uk/drivers-paid-higher-fuel-prices-due-to-weak-competition-cma-finds/
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