Rising cost of fuel

The video discusses the rising fuel prices and the factors contributing to this increase, such as global crude oil prices and the gap between crude oil and wholesale prices. The CMA is conducting a market study to investigate these issues further. Despite a drop in wholesale fuel prices, retail prices remain high, leading to consumer protests. The government is urged to cut taxes, but significant price reductions are unlikely soon.

What actions has the petroleum industry stated it will take in response to the CMA's investigation?

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What is the current VAT and fuel duty percentage that contributes to the price of a litre of fuel?

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