No evidence of widespread fuel price-gouging, regulator says

No evidence of widespread fuel price-gouging, regulator saysJust nowShareSaveAdd as preferred on GoogleJemma CrewBusiness reporterGetty ImagesThere is no evidence of widespread price-gouging by UK fuel retailers in the weeks after the US-Israel war with Iran began, according to the competition watchdog.The Competition and Markets Authority (CMA) said profit margins overall were "broadly unchanged" between February and March.In March, the CMA announced it would "step up" monitoring of petrol and diesel prices after the Middle East conflict caused wholesale prices to spike.Prime Minister Sir Keir Starmer at the time said the government was primed to act if fuel companies tried to "rip off customers", but forecourt retailers denied price gouging was taking place and criticised the use of "inflammatory language".The CMA said its findings indicated "there has not been a widespread issue of retailers earning higher margins" since the war began. But it found that fuel margins increased between February and March for two supermarkets and three non-supermarket retailers.Sarah Cardell, CMA chief executive, said: "We are investigating why and will report further in May."The regulator noted its findings were situated in a context of "historically high" fuel margins for retailers.Petrol retailers in row with government over 'rip off' accusationsWhat's happening to UK petrol and diesel prices?Competition and Markets AuthorityRetailingFuelOil & Gas industryIran warMotoring