Government accuses petrol stations of ripping off consumers — RT World News

Britain’s Business and Energy Secretary Kwasi Kwarteng on Saturday ordered the Competition and Markets Authority (CMA) to investigate whether fuel retailers had passed on a 5p price cut by liter on consumers. Petrol and diesel prices have hit record highs in the UK, partly due to the government’s embargo on imports of Russian oil.

The British government cut fuel tax by 5 pence (6 US cents) per liter in March in a bid to insulate motorists from soaring petrol and diesel prices. However, after dropping several pence in early April, fuel prices have started to soar again. According to figures from the RAC Foundation, the average price of petrol fell from £1.64 per liter when the duty was lifted to £1.83 ($2.25) on Friday, and diesel from 1 £.78 to £1.88 ($2.32) over the same period. .

In his letter to the AMC, Kwarteng urged the watchdog group to conduct a “urgent review of the fuel market”, discover “the extent to which competition has driven fuel tax reductions to be passed on to consumers.”

“Drivers should enjoy a fair price for fuel across the UK”, he wrote, saying prices vary from city to city, suggesting some retailers have pocketed the reduced duty for themselves. Retailers, meanwhile, blamed oil wholesalers, saying refineries failed to pass on the drop in crude prices that followed an initial spike after the launch of Russia’s military operation in Ukraine in February, a report said. reported the Guardian.

As well as suggesting that corporate greed is driving up fuel costs in Britain, Kwarteng blamed the rise in prices on increased demand due to the “unlocking after Covid” and the effect of the conflict in Ukraine on world fuel markets. However, he did not mention that in early March the British government chose to end all imports of Russian oil, which made up 8% of the country’s supply.

In addition to covering crude oil, the ban extends to refined petroleum products such as diesel. Before the embargo, Britain sourced around a third of its diesel from Russia. Almost four in ten Britons drive diesel vehicles.

With the cost of filling an average car now over £100 ($124), utility union Unison warned on Thursday that healthcare workers had been calling in sick because they could not afford to drive to work.

According to the Office for Budget Responsibility, real household incomes will fall by 2.2% this year, and Britons will experience the biggest drop in living standards since records began in 1956.

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