The UK competition watchdog is set to probe petrol and diesel prices after finding “cause for concern in some parts” of the industry.
The Competition and Markets Authority (CMA) said it saw a sharp rise in prices after the fuel was processed by oil refiners.
It also found “significant price differences” between gas stations in “many rural and urban areas”.
The CMA was asked by Kwasi Kwarteng to conduct an urgent review of the market.
The Business Secretary was concerned that a 5p fuel tax cut announced by the Government in March was not passed on to motorists.
The CMA’s initial review concluded that “broadly, the fuel tax cut appears to be implemented”.
However, it will now conduct an in-depth study of the market.
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