Policy and regulations

PRA responds to competition and markets authority report

posted on 15/12/2022
RAC - 'No justification for major retailers not to cut pump prices significantly'

2022 has seen volatile energy prices as a result of Russia’s invasion of Ukraine. Amid high fuel prices at forecourts, the CMA launched an investigation that culminated in the exoneration of petrol retailers from Government accusations of price gouging.

Responding to the CMA’s recent update, 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.”

*Article Source www.rmif.co.uk

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