The four biggest UK supermarkets have doubled their profit margins on fuel since Russia invaded Ukraine in February 2022, analysis has revealed.
Research from the RAC of wholesale and retail prices showed Tesco, Asda, Sainsbury’s and Morrisons- supermarkets that dominate the UK fuel market – had increased their margins from 4.7p per litre prior to the war to around 10p per litre since.
The motor services company revealed an overwhelming profit margin on diesel currently at 15p per litre due to wholesale prices falling for the stores.
Meanwhile, margins on petrol reached almost 11p a litre in 2022 and has now dropped to 6p per litre.
Lower fuel costs helped inflation to drop from 8.7% in May to 7.9% in June, however RAC said the figure could have been even lower if pump price reductions were “in line with cheaper wholesale costs”.
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