Last mentioned: Mar 13, 2026
CMA Deadline
Expected date for the watchdog's initial findings on retail margin transparency.
Treasury Intervention
Rachel Reeves issues a formal letter to the CMA demanding a crackdown on 'rip-off' pricing.
Treasury Intervention
Rachel Reeves asks the CMA to investigate potential price gouging and 'rip-offs'.
Retail Price Surge
UK fuel retailers hike pump prices, leading to widespread consumer complaints.
Iran Conflict Escalates
Hostilities in the Middle East trigger a sharp spike in Brent Crude prices.
Retail Price Surge
UK average petrol prices rise by 8p per litre in a single week.
Conflict Escalation
Hostilities in Iran lead to immediate 15% spike in Brent crude futures.
UK Chancellor Rachel Reeves has formally requested the Competition and Markets Authority to investigate potential price gouging at fuel pumps following a surge in global oil prices. The intervention aims to prevent retailers from using the conflict in Iran as a pretext for unfair margin expansion.
UK Chancellor Rachel Reeves has formally requested the Competition and Markets Authority to investigate and mitigate fuel price gouging at the pump. The intervention follows a sharp rise in global oil volatility linked to the conflict in Iran, with the government seeking to protect consumers from unfair retail margins.