Closing post
Time to wrap up….
Retailers’ fuel price margins are far above historic levels, according to a study by the competition regulator, sparking claims that motorists are being ripped off.
The Competition and Markets Authority (CMA) said its findings are “deeply concerning”.
Margins show the difference between what retailers pay for fuel and the price they sell it for.
The CMA’s monitoring found supermarkets’ fuel margins ranged from 8.0-9.1% in the three months to the end of June, while for other retailers it ranged from 9.9-10.6%.
Luke Bosdet, the AA’s spokesperson on pump prices, said:
“UK consumers faced by inflationary pressures on all fronts and trying to stretch their budgets as far as they can will be incensed by this confirmation of what they suspected – they continue to be ripped off at the pumps.
Donald Trump’s threat to impose new tariffs from next week on branded drugs, trucks and kitchen cabinets has raised fresh concerns for the UK pharmaceutical industry, which remains excluded from Keir Starmer’s US tariff deal agreed five months ago.
Trump promised the UK “preferential treatment” on pharma tariffs in May but has yet to deliver on his pledge.
A British government spokesperson said:
“We know this will be concerning for industry, which is why we’ve been actively engaging with the US and will continue to do so over the coming days.
“Sectors such as pharmaceuticals are critical to our economy … so we will continue to press the US for outcomes that reflect the strength of our relationship and deliver real benefits for UK industry.”
Shares in European truckmakers have fallen today – with Daimler Truck down 2.1% in late trading and Traton Group losing 2.2%.
European markets are ending the day in the green, though, with the UK’s FTSE 100 index up 63 points or 0.7% at 9277 points.
Updated
Over in New York, the US stock market is also unruffled by Donald Trump’s overnight tariff flurry.
The Dow Jones industrial average has risen by 129 points, or 0.3%, at 46,077, with the broader S&P 500 index up 0.13%.
Tech stocks seem to be out of favour, again, with the Nasdaq index down 0.1%.
