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Post by ginnyg on Jun 14, 2023 17:38:24 GMT
In a conversation with The Bloke the other night I remarked that I was unconvinced that supermarkets operated in a competitive and open market. Turns out I was right. www.bbc.co.uk/news/business-65889328 |
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Post by ginnyg on Jun 28, 2023 8:45:02 GMT
And yet again... Supermarkets are being investigated by the competition watchdog over high food and fuel prices. The Competition and Markets Authority (CMA) said it would look at whether a "failure in competition" meant customers were overpaying. Supermarkets said they were working to keep food prices "as low as possible". But an investigation into the fuel market, which has already started, has found some supermarkets have increased margins on petrol and diesel. www.bbc.co.uk/news/business-65601292 |
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Post by wapentake on Jun 28, 2023 8:52:56 GMT
When a price is to be paid it’s seldom done so by the rich and business not least when it all goes tits up,the banking crisis,now the utilities the plebs always foot the bill.
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Post by Red Rackham on Jul 4, 2023 17:36:50 GMT
Greedy supermarkets made almost £1billion last year by fleecing drivers with high fuel prices, a damning new report revealed today. They made an average of 6p extra profit on every litre of fuel sold by keeping their profit margins higher than usual due to a lack of market competition. Ministers said today they will act on a recommendation from the CMA to introduce a new law forcing fuel retailers to make up-to-date pricing information available to third parties. Watchdog the Competition and Markets Authority (CMA) said Asda, Tesco, Sainsbury's and Morrisons together made around £900million by failing to pass on the falling wholesale cost of petrol and diesel to consumers - linkA couple of extra links just for good measure... Morrisons’ boss admits supermarket chains have hiked profits on petrol - link
Competition watchdog fines Asda for failing to comply with fuel inquiry - link
Over the years thousands of local petrol stations have been forced out of business by the big four supermarkets who have undercut them. It would seem now, due to a lack of competition that supermarkets no longer have to undercut anyone. They have by design or inadvertentley created a cartel. |
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