Business secretary Kwasi Kwarteng has written to retailers in the petrol industry ‘to remind them of their responsibilities’ following claims that retailers hiked prices following the 5p per litre fuel duty cut.

Chancellor Rishi Sunak implemented a 5p per litre cut in fuel duty in the Spring Statement in March to help ease the financial pressure for motorists, however, motoring group RAC has claimed that retailers are taking an average profit of 2p per litre more than before the policy was introduced.