Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions her Department has had with the Competition and Markets Authority on monitoring fuel prices during volatility in global oil markets.

HM Treasury officials have discussed with the Competition and Markets Authority (CMA) the work they are doing to maintain a high level of vigilance for unjustifiable price increases across the economy, including for fuel prices. The Chancellor has written to Sarah Cardell, Chief Executive of the CMA, expressing support for the CMA’s work to ensure customers are not affected by undue price rises, including for road fuel. Letter to the CMA on vigilance for unjustifiable price increases.

The Chancellor and DESNZ’s Secretary of State met with petrol retailers and the CMA on 13th March to discuss where further action can be taken on monitoring fuel prices and supporting the cost of living.