The government threatened petrol firms with legal action this week over concerns they were not passing on the recent fuel duty cut to motorists.
Business Secretary Kwasi Kwarteng wrote to petrol industry bosses - warning them that the competition watchdog will ‘closely monitor’ the situation. In the letter, Mr Kwarteng said he had been reassured the Competition and Markets Authority would ‘not hesitate to use their powers to act against petrol stations if there is evidence that they are infringing competition or consumer law’.
It comes after Chancellor Rishi Sunak implemented a 5p per litre cut in fuel duty in March with motorists struggling with record prices at the pump amid the on-going cost of living crisis . A duty rate is a government tax on imported goods.
