Asda’s profit margins at the pump have trebled, MPs told

Asda’s co-owner Mohsin Issa was also questioned by the business select committee but refused to say whether it had increased its profit margins on fuel. Photograph: Peter Byrne/PA

Asda’s profit margins on fuel have tripled since before the pandemic, according to the competition regulator at a bad-tempered parliamentary hearing where the supermarket chain’s co-owner repeatedly refused to explain its pricing strategy.

Mohsin Issa declined to answer multiple questions on whether Asda had increased its profit margins on fuel since its takeover in 2021, prompting MPs on the business select committee to become increasingly furious as the retailer insisted it had not changed its strategy.