Competition regulator to review fuel prices

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Andrea Coscelli, chief executive of the Competition and Markets Authority (CMA), said record pump prices are “causing significant concern” for millions. The review was requested by Business Secretary Kwasi Kwarteng.

He asked the CMA to look at whether the 5p per litre duty cut, announced in March, was being passed on to drivers and whether there were price variations between local forecourts.

The average price of a litre of petrol climbed to a record 185p on Sunday.

Luke Bosdet, of the AA, said the rise in petrol prices “should be grinding to a halt” by the end of the week due to wholesale prices falling since the start of the month.

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