Jeremy Hunt backs ‘crackdown’ on rip-off petrol prices by greedy supermarkets in victory for The Sun
JEREMY Hunt has today backed a “crackdown” on rip-off petrol prices by greedy supermarkets.
The Chancellor spoke out ahead of a report due tomorrow, which is set to blast retailers for making unfair profits on fuel.
The report, by watchdog the Competition and Markets Authority, is expected to recommend a PumpWatch comparison site is set up, in a huge victory for The Sun’s Keep It Down campaign.
The site would let drivers identify different prices at stations in their area — with that transparency likely to drive prices down, the CMA believes.
Speaking to The Sun on Sunday, Mr Hunt said: “No one has campaigned harder than The Sun to make sure drivers are not paying over the odds at the pump.
“I am committed to getting a fair deal for motorists. I met with watchdogs this week to work out how to reduce everyday costs.
Read More on Fuel Prices
“They have my 100 per cent backing to crack down on any unfair treatment.”
The CMA launched their probe into fuel prices last December, amid alarm that falls in oil prices were not being passed on to punters.
In a withering interim report earlier this year, the watchdog found profiteering supermarkets were pocketing an extra 5p per litre in profit, compared to if they had maintained 2019 levels.
And the regulator found: “Although supermarkets still tend to be the cheapest retail suppliers of fuel, evidence indicates at least one supermarket has significantly increased its internal forward-looking margins.”
Most read in Money
Last week, MPs slammed supermarket bosses over petrol profiteering.
And Morrisons CEO David Potts admitted to Parliament supermarkets have increased profits at the petrol pumps.
He said bosses “can do more” to bring costs down.