UK drivers being overcharged as fuel prices fail to track oil market, watchdog finds

CMA rejects retailers’ claims on operating costs, saying weak competition is not passing on lower wholesale pricesDrivers are being overcharged for petrol and diesel, the UK’s consumer watchdog has said, dismissing forecourt operators’ excuse for charging more at the pump.Fuel retailers have said they are unable to lower pump prices to keep pace with falling global oil markets because they need to make up for higher non-fuel “operating” costs, such as wages and energy. Continue reading…