Supermarket shoppers have been hit with a limit on the amount of cooking oil they can purchase due to low supplies caused by the Ukrainian war.
24.03.2022 - 14:33 / manchestereveningnews.co.uk
A warning has been issued by the UK competition regulator that petrol prices could skyrocket at over 100 Morrisons forecourts.
This is due to the fact that private equity firm Clayton, Dubilier & Rice (CD&R) are taking over the supermarket in a £7 billion deal. In January the Competition and Markets Authority launched an investigation into the takeover, but has now said it could launch a deeper investigation if concerns over potentially high petrol prices are not addressed.
It comes as CD&R also owns petrol station giant Motor Fuel Group (MFG), and won a lengthy auction to buy Morrisons in October. MFG operates 921 petrol stations across England, Scotland and Wales under a number of different brands. Meanwhile, Morrisons runs 339 petrol stations at its supermarkets.
Read more: Rishi Sunak lowers fuel duty by 5p and cuts National Insurance
The regulator said it now has concerns over 121 local areas where MFG and Morrisons both have forecourts and would face “limited competition” from other players following the merger.
It said “the deal could lead to an increase in prices” due to the lack of competition. The warning comes after a recent surge in the price of petrol and diesel. Figures from data firm Experian Catalist show the average cost of a litre of petrol at UK forecourts on Tuesday was 167.3p, while diesel was 179.7p
Colin Raftery, senior director of mergers at the CMA, said: “Prices for petrol and diesel have recently hit record highs, which makes it even more important that we don’t allow a lack of competition at the pump to make the situation worse.
“We’re concerned that this deal could lead to higher prices for motorists in some parts of the country. But if CD&R and Morrisons are able to address these concerns,
Supermarket shoppers have been hit with a limit on the amount of cooking oil they can purchase due to low supplies caused by the Ukrainian war.
Economists have predicted that petrol prices in the UK could drop by 8p in the next few months. But for now, petrol and diesel prices remain high. According to the latest data from the RAC, an average litre of unleaded petrol costs 163.28p, while an average litre of diesel is 177.29p.
The head of Octopus Energy has warned energy prices could rise even further in the winter.
The cost of living is going to soar even higher on Friday (April 1), with the energy price cap rising, new council tax rates and increasing National Insurance. The average household energy bill will rise by 54 percent, costing an extra £693 a year.
CANBERRA, Australia -- An eclectic array of celebrities including singer Elton John, golfing legend Greg Norman and champion surfer Kelly Slater paid tribute on Wednesday to their friend, former Australian cricketer Shane Warne, at a star-studded state memorial service.More than 50,000 mourners chanted their hero’s nickname “Warnie” at the outset of the service at the Melbourne Cricket Ground as they used to do when he took to the pitch for a match.It was his hometown pitch where he cemented his sporting legend in 2006 by becoming the first bowler in the world to take 700 test wickets.Warne’s death at a Thai resort of a suspected heart attack on March 4 at the age of 52 made headlines around the world.The pain was felt far beyond the cricket world. Tributes came from the fields of music, acting, business, golf, politics, surfing, comedy, poker and others.Elton John dedicated a rendition of “Don’t Let the Sun Go Down on Me” to Warne’s children — Brooke, Summer and Jackson — who were among the crowd that included Australian Prime Minister Scott Morrison.John and fellow British musicians Ed Sheeran, Robbie Williams and Coldplay frontman Chris Martin appeared on a large screen via video.
Fuel retailers have been accused of refusing to pass on Chancellor Rishi Sunak’s duty cut in full. Mr Sunak used his spring statement on March 23 to reduce fuel duty by 5p per litre.
As the Ukrainian conflict carries on, the rising cost of living has only been made worse by the surge in fuel prices.
The cheapest supermarket in Britain for March has been named - and it's between Aldi, Lidl, ASDA and Morrisons, Tesco, Sainsbury's and M&S. With prices for basically everything soaring, shoppers are looking for the cheapest possible products, and one supermarket has beaten the rest when it comes to price.
Petrol prices in the UK could reach as high as £2.40 a litre this year due to Russia's invasion of Ukraine.
Falkirk motorists face paying even more at the pumps after average UK fuel prices reached record highs earlier this week.
Almost six months on from widespread panic buying at petrol stations, a business leader is warning that similar scenes could be on the horizon.
Petrol prices have soared to a new record high in the UK as the Russian invasion of Ukraine continues.
Australian cricketer Shane Warne had just completed a 14-day 'extreme' liquid diet before he died of a suspected heart attack, friends say. The 52-year-old was with pals at the luxury Samujana Villa resort in Koh Samui, Thailand, when he was found unresponsive in his room about 5pm local time on Friday.Thai police earlier confirmed an autopsy found he died of "natural causes" and a full summary will follow.
WATCH: Summer Warne makes a TikTok with her dad ShaneAs the country mourns his incredible life, we are looking back at his whirlwind love story with British actress Elizabeth Hurley."I feel like the sun has gone behind a cloud forever. RIP my beloved Lionheart," Liz penned on Instagram in the wake of his death.The pair met at the races in July 2010, and when pictures surfaced of them kissing in London their love became official to the world.Fans of the actor and cricket player witnessed their flirty Twitter exchanges, including a particularly sweet one where Liz tweeted, "Oooh … you're such a caveman.