"The UK ECONOMY HAS JUST COLLAPSED" & The Fall Of The European Union Is Next! Petrol stations are to be investigated over a failure to pass on falling wholesale prices to drivers#investingfuture #ukeconomy #europeanunion #TheTelegraph

"Petrol stations are to be investigated over a failure to pass on falling wholesale prices to drivers, amid suspicions fuel retailers are using the war in Ukraine as cover to bolster their profits. 

The Competition and Markets Authority said it has witnessed “rocket and feather” pricing for fuel, where prices rise sharply, like a rocket, to accommodate higher oil prices and other costs but then drop slowly like a feather as market prices fall back. 

Under this arrangement, retailers keep the difference between wholesale prices and pump prices as costs fall back. “Between 2017 and 2021, the difference between the price retailers paid for fuel and the pump price (the “fuel margin”) rose by the equivalent of 2-3p a litre on diesel and 3-4p a litre on petrol,” the CMA found. 

The watchdog said the rise could be a result of “the extreme volatility of prices and supply in 2022” but pledged to “investigate further.” 

Brent crude oil hit highs of more than $125 per barrel in March in the wake of Russian President Vladimir Putin’s war and reached similar prices in June. Since then prices have declined and oil’s most recent value was closer to $80. 

Prices for petrol reached record highs of almost 200 pence per litre over summer but have since fallen back, recently falling below 160 pence per litre." 

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