9:03 am, March 13, 2026
Fuel retailers are being put ‘on notice’ that the competition watchdog is probing petrol and diesel prices in light of the Middle East conflict to prevent drivers being ripped off at the pumps.
The Competition and Markets Authority (CMA) has told firms that it was bringing forward formal requirements to supply revenue, costs and sales data.
It it will also consider how quickly fuel prices rise and fall as wholesale costs change and whether there is evidence of so-called “rocket and feather” pricing.
While it recognised that businesses across the economy were likely to face significant pressures from rising energy costs which could affect prices, it said fuel stations ‘should not exploit the situation’, adding that any evidence of this would be made clear in its update on pricing, ‘which will be published as soon as possible’.
The CMA’s executive director for markets, Juliette Enser, said: ‘Whilst price increases might be inevitable because of rising wholesale costs, it is important that those increases reflect genuine cost pressures.
‘We will be closely scrutinising and reporting on what’s happening with fuel prices and call out any concerning behaviour.’
On Wednesday, the RAC said diesel prices had risen by nearly 9% since February 28.
Petrol prices were on average 6% more across the same period.
RAC head of policy Simon Williams said: ‘Drivers tell us the cost of motoring is a major concern, and fuel is a huge contributor to that, so making sure they’re paying a fair price at the pumps is essential.
‘For that reason, we welcome the competition watchdog’s scrutiny of what’s happening on forecourts across the country.
‘RAC fuel watch data shows average prices have rocketed in under two weeks, with the average price of petrol increasing by 7p to 140p a litre and diesel by 16p to 158p. This has added £4 and £8 to the cost of filling up a family car.’
Energy secretary Ed Miliband spoke to business leaders and energy suppliers on Thursday about the cost of living.
Officials said he stressed that the affordability crisis was the government’s ‘number one priority’ and discussed what lessons have been learned from previous energy market disruptions.
Miliband said: ‘Tackling the cost-of-living crisis is our number one priority.
‘That’s why we took action at the budget, and the price cap is coming down in April as a result.
‘I know many people will still be concerned by the impact of events in the Middle East.
‘Today I met with executives from across the energy market to discuss these issues.
‘The government will keep working with the sector closely in the coming weeks and months.’
