Asda Accused of Raising Fuel Prices Using Russian Invasion of Ukraine
- The Competition and Markets Authority has discovered that motorists were overcharged
According to official regulators, Asda, a major supermarket chain, took advantage of the fluctuating fuel prices caused by Russia’s invasion of Ukraine, resulting in drivers being overcharged.
The Competition and Markets Authority (CMA), appearing before the all-party Business and Trade Committee, has found that motorists were overcharged an average of 6p per litre on fuel in 2022, equating to £900 million in total.
The CMA discovered that the overcharging was particularly prevalent for diesel, reaching as high as 13p per litre and continuing into this year.
Dan Turnbull, CMA markets director, highlighted Asda’s change in fuel pricing policy, which resulted in a tripling of its profit margin.
Notably, Asda did not cooperate with the CMA’s pricing investigation and has consequently been fined £30,000 on two occasions.
Supermarket giant Asda took advantage of drivers amid fluctuating fuel prices caused by Russia’s invasion of Ukraine, according to official watchdogs
Picture shows EG Group founders Mohsin (right) and Zuber Issa (left) in Blackburn Nov 13, 2019
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