fuel prices News & Analysis
3 articles
Market Mood
CMA Reports No Widespread Fuel Price Gouging After Conflict
The Competition and Markets Authority (CMA) found no evidence of widespread price-gouging by UK fuel retailers following the onset of the US-Israel conflict with Iran. Retail fuel margins remained broadly unchanged between February and March, averaging 10.7 pence per litre (ppl). However, margins did increase for two supermarkets and three non-supermarket retailers, prompting further investigation. Petrol prices peaked at 158.3p per litre, while diesel reached 191.5p per litre before slightly declining. The CMA aims to ensure that any decrease in wholesale costs is reflected in retail prices for consumers.
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Fuel Prices Surge: Home Care Workers Face Increased Costs
Home care worker Kevin Brewer reports that fuel prices have surged, increasing his petrol costs from £30 to £70 every two days. This rise impacts care providers, with the Independent Health & Care Providers (IHCP) calling for government action. The Department of Health acknowledged the 'significant impact' of fuel price volatility on service providers. Additionally, the closure of the Strait of Hormuz has halted around 20% of global oil trade, exacerbating the situation, as petrol was previously averaging 124.8p per litre.
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China (CHN) Exports Slow Amid Rising Fuel Prices and Turmoil
Limited data available — The article discusses the slowdown in China's exports, although specific figures or percentages are not provided. It mentions rising fuel prices contributing to a surge in imports, indicating shifts in trade dynamics. There is also a reference to turmoil in the Middle East affecting these exports, but no concrete data points are presented. Without specific numbers or official statements, the broader market implications remain unclear.
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