economy

March 12, 2026

Watchdog puts UK fuel retailers ‘on notice’ over profiteering from Iran war

Competition and Markets Authority will closely monitor pump prices to stop profits being ramped up amid crisis

Watchdog puts UK fuel retailers ‘on notice’ over profiteering from Iran war

TL;DR

  • The UK's Competition and Markets Authority (CMA) is increasing its monitoring of fuel retailers.
  • This is due to concerns about profiteering as the US war with Iran drives up wholesale fuel costs.
  • The CMA will require firms to provide revenue, cost, and sales data to accelerate a review of fuel industry margins.
  • Petrol and diesel prices have risen sharply (5.5% and 11.1% respectively) since the conflict began.
  • The government has warned against companies exploiting the crisis for 'excess profits'.
  • The CMA will analyze price changes to check for 'rocket and feather' pricing (rapid increases followed by slow decreases).

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