Fuel retailers warned they could face fines over petrol and diesel pricing
manchestereveningnews.co.ukFuel retailers could be fined if they don't make their pricing clearer, the government has announced. The Department for Energy Security and Net Zero (DESNZ) plans to give the Competition and Markets Authority (CMA) more power to keep an eye on pump prices and report "any sign of malpractice to the government".
The move is aimed at improving competition in the market. Fuel sellers will have to show how much they're charging customers at the pump compared to their profits, says the DESNZ.
If they don't, they could get a fine from the CMA of up to 1% of their worldwide turnover, or an ongoing fine of up to 5% of daily turnover.
A CMA investigation found that some supermarket fuel sellers didn't pass on reductions in wholesale costs last year, charging drivers 6p more per litre for fuel.
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