UK launches probe into road fuel pricing over growing ‘refining spread’

The UK’s competition watchdog plans to review of the retail road fuel market after finding ’cause for concern’ over a growing gap between crude prices and wholesale oil product prices leaving refineries, it said July 8. The ‘refining spread’ between crude and wholesale prices added 24 pence/liter (28 cents/liter), or 40%, to fuel costs in the UK over the past…