Petrol retailers given clean bill of health by the CMA

The Petrol Retailers Association is reassured by the findings of the CMA’s Road Fuel Review, which has reiterated that there is no evidence that retailers have profited from failing to pass on the fuel duty cut.

The review found that the price reduction following the duty cut was temporary because of rising crude oil prices and refining spreads, rather than a growing gap between wholesale and retail prices.

Gordon Balmer, Executive Director of the Petrol Retailers Association said:

“We agree with the findings of the CMA’s investigation. In recent months, we have seen motoring organisations and politicians attempting to scapegoat petrol retailers.  This report exonerates petrol retailers and leaves unanswered questions about the extent to which these critics understand the retail fuel market at all.

“The Petrol Retailers Association will continue to invite politicians, campaign groups and motoring organisations to educate themselves better about the market.  We hope the CMA’s market investigation will lead to a more grown-up debate about how to achieve the best prices for drivers.

“We are confident that this report will reassure motorists that petrol retailers are doing their best to keep their communities fuelled and fed, while operating on tight margins.”

*Article Source www.rmif.co.uk