8legs: Competition and markets authority

#1 out of 1

Rachel Reeves branded 'profiteer' after fuel sector slurs slapped down

The CMA found that average petrol and diesel margins were broadly unchanged after the Iran war began.
The CMA said there was no evidence this price rise reflected profiteering by retailers.
Reeves faced fresh accusations of being the 'real profiteer' due to VAT windfall from higher prices.
Reeves insisted the windfall would not be used to fund her fuel duty plan.
Opposition parties urged tax relief or cuts for motorists amid price pressures.
CMA promised further investigation into price dynamics at the pumps.
Prices rose due to the Iran war, the CMA noted, affecting motorists financially.
The report highlights a VAT windfall of about £350 million tied to higher pump prices.
The CMA stated retail fuel margins were close to the 2025 average margins.
Rail against Reeves’ stance drew reaction from Reform UK and Lib Dems.
Context: Reeves had clashed with industry leaders over petrol pricing earlier this year.
The CMA’s chief executive commented on margins not increasing.

Vote 0