Fuel pricing: Committee publish Government letter

The Business and Trade Committee has published a letter from Grant Shapps to the Committee Chair Darren Jones reacting to the findings of the Competition and Markets Authority’s (CMA) road fuel market report.

In it, the Energy Security and Net Zero Secretary said he was ‘concerned’ by the report’s conclusions that fuel retailers had taken higher profit margins over the last few years. He also stated the Government’s intention to launch an open data scheme to promote competition.

Reacting to the CMA’s study, Mr Jones said, “Only last week supermarket bosses told us they were not putting up petrol prices unfairly, and that they were cooperating with the competition authority.

But this week, it’s been confirmed that competition isn’t keeping down prices in line with wholesale costs and that Asda, in particular, didn’t cooperate with the investigation. 

That is unacceptable and action must be taken.”