Petrol prices: Drivers still paying over the odds, says watchdog
Published On Nov 28, 2024, 6:34 AM
Drivers in the UK are currently facing higher petrol prices than they should due to increasing profit margins set by fuel retailers. The Competition and Markets Authority (CMA) reports these margins are notably elevated, rising to 8.1% for supermarkets and 10.2% for non-supermarkets in August 2024. Despite a reduction in overall fuel prices since July, concerns about competition within the fuel market and its effect on consumer pricing persist, especially in the current high cost of living environment.
Stock Forecasts
XLE
Negative
Given the rising profit margins in the fuel sector and the ongoing scrutiny by the CMA, it may lead to price adjustments or interventions in the sector. Investors should be cautious as sustained high margins may harm consumer spending as fuel becomes more costly, which can negatively impact related sectors.
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