UK Government Orders Regulator to Investigate Fuel Market
13 June 2022 - 6:37PM
Dow Jones News
By Jaime Llinares Taboada
The U.K. government has asked the Competition and Markets
Authority to conduct an urgent review of the fuel market.
In a letter dated Saturday, the Secretary of State for Business,
Energy and Industrial Strategy Kwasi Kwarteng requested an urgent
review by July 7 and a longer-term market study to explore whether
the retail fuel market has adversely impacted consumer
interests.
There remains widespread concern about the increase in prices
and the effect of the reductions in fuel duty for petrol and
diesel, Mr. Kwarteng said.
The review should consider market competition and geographical
factors, and any further steps that can be taken to strengthen
competition and increase transparency over prices, he said.
"The British people are rightly frustrated that the GBP5 billion
package does not always appear to have been passed through to
forecourt prices and that in some towns, prices remain higher than
in similar, nearby towns," Mr. Kwarteng said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
June 13, 2022 04:22 ET (08:22 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Sainsbury (j) (LSE:SBRY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sainsbury (j) (LSE:SBRY)
Historical Stock Chart
From Apr 2023 to Apr 2024
