First published by Author on July 05, 2023 in the following categories: Consumer Law Industry Investigations Latest Pricing and tagged with cma | competition law | consumer law | fuel | investigations | market study | pricing
The CMA recently published an update in respect of its road fuel market study where it had been looking into the prices and competition in this particular sector.
The study was launched last year and came at an important time when the cost-of-living crisis was really hitting us all and continues to cause significant problems for families across the UK. It is essential to make sure that no companies are breaching competition law and that consumers are not being taken advantage of, particularly when we are all feeling the squeeze.
The Competition and Markets Authority (CMA) has announced that it is conducting an urgent review into the UK fuel retail market at the request of the government.
The review comes at a time with soaring inflation, a cost-of-living crisis and the prices at petrol pumps spiralling out of control. We are all being hit by the increased cost of living, and the government must do all it can to ensure that the people do not suffer and face further hardship.
We welcome the review that is being conducted by the CMA, and we urge the government to step up in supporting people and preventing prices from soaring even further out of control.