Fuel margins of retailers – the difference between what a retailer pays for its fuel and what it sells at – remain around the high levels seen during the CMA’s road fuel market study. 

Supermarket fuel margins increased over the May to August 2024 period, up from 7.0% in April to 8.1% in August. Non-supermarket fuel margins also increased from 7.8% in April to 10.2% in August. 

The sustained increase in the level of fuel margins is concerning and suggests that overall levels of competition in the road fuel retail market remain weakened. 

Fuel prices 

Fuel prices decreased for both petrol and diesel from June to October 2024. These movements reflect in part changing crude oil prices and refining spreads, both of which are driven by global factors. 

The average petrol and diesel prices at the end of October were 134.4 and 139.7 pence per litre (ppl) respectively. This represents a decrease of 10.0 ppl and 10.4 ppl in petrol and diesel prices than the previous four months. 

Retail spreads 

The CMA also looked at the retail spread – the average price that drivers pay at the pump compared to the benchmarked price that retailers buy fuel at – over July to October 2024. 

Retail spreads were above the long-term average of 5-10 ppl, with petrol averaging 14.9 ppl and diesel averaging around 16.3 ppl. Retail spreads have been above long-term averages since 2020, indicating an ongoing lack of retail competition in the sector. 

While spread analysis can give a quick overview of trends in the sector, it is a less reliable indicator of competitive intensity than individual retailers’ fuel margins. Retail spreads increase and decrease in response to the volatility of wholesale prices but should return to a normal range over time.

To calculate your Council Tax, you need to know the following:

• The valuation band of your property in England, Wales, or Scotland
• The amount your local council charges for that band
• Whether you qualify for a discount or exemption from the full bill

If you are on a low income or receive benefits, you may be eligible for Council Tax Reduction (formerly known as Council Tax Benefit).

Your property may be put in a different band in some circumstances, for example if:

• you demolish part of your property and do not rebuild it;
• you alter your property to create 2 or more self-contained units, for example an annexe – each unit will have its own band;
• you split a single property into self-contained flats;
• you convert flats into a single property;
• you start or stop working from home;
• the previous owner made changes to your property;
• there are significant changes to your local area, like a new road being built; or
• a similar property in your area has its Council Tax band changed.

A full Council Tax bill is based on at least two adults living in a home. Spouses and partners who live together are jointly responsible for paying the bill.

Certain people are not counted (‘disregarded’) when working out how many people live in a property. Your Council Tax bill may be reduced if there are disregarded people living in your property. There are also discounts that may be available for households where everyone is a full-time student or if someone living in the property is disabled.

If you think you have overpaid your Council Tax bill you need to contact your local council to discuss a refund.

According to the Office for National Statistics as of October 2024, the primary concerns among individuals in the UK are:

1. National Health Service (NHS): 85% of adults identified the NHS as a significant issue, reflecting widespread apprehension about healthcare services.
2. Cost of Living: 84% of respondents highlighted the cost of living as a major concern, indicating ongoing financial pressures on households.
3. Economy: 69% of individuals expressed concerns about the economy, underscoring unease regarding economic stability and growth.
4. Crime: 60% of adults reported crime as a pressing issue, pointing to fears about safety and security.
5. Immigration: 58% of respondents viewed immigration as an important issue, reflecting debates over immigration policies and their societal impacts.
6. Housing: 58% of individuals identified housing as a significant concern, highlighting challenges related to housing affordability and availability.

These findings are based on data collected by the Office for National Statistics (ONS) between 2 and 27 October 2024.

Additionally, a Statista survey from October 2024 reported that 50% of UK respondents considered the economy one of the main issues facing the country, emphasizing the prominence of economic concerns.