The PRA has welcomed an initial update on the Road Fuel Market Study being carried out by the Competition and Markets Authority (CMA).
Gordon Balmer, executive director of the PRA, said: “We were entirely transparent and assisted the CMA with their investigation throughout and were pleased when they exonerated us from the unfounded accusations of price gouging.
“The majority of our members are small operators that have worked hard to serve their communities in these unprecedented times. It was irresponsible of the government to baselessly accuse them of ripping off customers, and we are glad the matter has been resolved.
“We will continue to work with the CMA and provide any evidence they may need concerning their investigation.”
The study follows on from an urgent review that had been commissioned by the government to look, in particular, at whether the cut in fuel duty, announced in March 2022, had been passed on to consumers.
Unlike the urgent review in July, a Market Study allows the CMA to use compulsory information-gathering powers to probe the entire market. Since launching the study, the CMA reported that it has secured information, including company level financial data, from retailers, refiners and wholesalers. The CMA has also conducted in-depth analysis of fuel prices over the past five years, rather than just the one year covered by the urgent review.
The CMA is now inviting views and comments on the emerging evidence published in the update. A further update, including options for possible next steps, will be published in the Spring.
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