Asda’s pence per litre fuel margin targets were three times their 2019 level by 2023, and the retailer deliberately passed on reductions to retail prices more slowly in areas where they had no competition, the competition watchdog has told MPs.
Competition and Markets Authority (CMA) director of markets Dan Turnbull told the Business and Trade Committee that Asda repeatedly told it over the course of its market study that it had not changed its fuel pricing strategy because it had consistently maintained the strategy of being the lowest cost provider in any particular area.
