Asda twice failed to provide adequate and timely information to investigators
Asda was hit with a £60,000 fine over its failure to adequately cooperate with an investigation into UK fuel prices.
Both Asda and Morrisons wanted to further increase that this year, with Asda targeting a profit margin in 2023 which was more than three times that of 2019. Meanwhile other supermarkets such as Tesco and Sainsbury’s “did not respond in the way you would expect in a competitive market and instead raised their prices in line with these changes”, the CMA said.
The CMA investigation was requested last year amid concerns some retailers were failing to pass on a 5p cut in fuel duty to customers. It was able to order the supermarket chains to take part in its investigations and issued two penalties against Asda for failing to provide relevant information in a timely manner.
Sarah Cardell, Chief Executive of the CMA, said: “Competition at the pump is not working as well as it should be and something needs to change swiftly to address this. Drivers buying fuel at supermarkets in 2022 have paid around 6 pence per litre more than they would have done otherwise, due to the four major supermarkets increasing their margins. This will have had a greater impact on vulnerable people, particularly those in areas with less choice of fuel stations.
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