UK Watchdog: No Widespread Fuel Price Gouging

0:00On May 1st, UK's competition watchdog just dropped the word, no widespread price gouging at fuel pumps after that U.S.-Israel clash with Iran kicked off. The competition and market's authority says overall profit margins stay pretty much the same from February to March. They ramped up monitoring back in March when Middle East tensions by toll sale fuel costs. Prime Minister Sir Keir Starmer warned companies not to rip out drivers but retailers fired back denying any foul play and calling out the harsh. Talk Drivers felt the pinch anyway with pump prices jumping due to soaring oil costs. Brink crude hit over $126 a barrel this week, the highest since 2022. The CMA spot in margin hikes at two supermarkets and three other retailers so they're digging deeper and plan a full report in May. They note these margins are already at historic highs. They're keeping a sharp eye on so-called rocket and feather pricing where costs shoot

1:01up fast but drops low. Expect them to push for quick pass-throughs if wholesale prices ease up soon.