Tesco defends fuel pricing stance after accusations of profiteering

Tesco has defended its stance on fuel pricing after the government accused forecourts of profiteering at a time when household budgets are under acute pressure from rising living costs. Ministers have suggested not all forecourts have passed on the reduction and instructed the regulator, the Competition and Markets Authority, to investigate pricing in the sector. Murphy said Tesco "Continues to price fuel very competitively" and rejected accusations of profiteering. Supermarkets in the past used pricing and promotions on fuel as a way of attracting customers into shops. Industry figures say there has been a cut this year in promotional pricing and coupons linking store spending to fuel prices, suggesting retailers are now treating fuel as a driver of profits in its own right.

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