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<\/div>\nSainsbury\u2019s CEO Simon Roberts has welcomed the CMA\u2019s move to make retailers publish live data on fuel charges as he denied the supermarket sector was benefitting from the cost-of-living crisis.<\/p>\n
The chief executive said the grocer didn\u2019t have a margin target for fuel, despite accusations from ministers yesterday that supermarkets were overcharging customers at the pump.<\/p>\n
\u201cWe\u2019ve been really consistent that we\u2019re the cheapest or the second cheapest in every location that we trade in. And that\u2019s been something we\u2019ve been absolutely determined to maintain,\u201d he said.<\/p>\n
Roberts\u2019 comments come after the CMA found that increased supermarket profit margins led to drivers paying an extra 6p per litre for fuel last year.<\/p>\n
The Sainsbury\u2019s chief also highlighted that any money made on fuel was reinvested in keeping a lid on food price inflation.<\/p>\n
\u201cAny benefit we see from any other part of our business\u2026gets invested right back into the food business, to keep our food prices as low as they possibly can be,\u201d he insisted.<\/p>\n
Subscribe to Retail Gazette for free<\/strong><\/h5>\nSign up\u00a0here\u00a0to g<\/span>et the latest news straight into your inbox each morning<\/span>\u00a0<\/span><\/strong><\/p>\nAmid claims that supermarkets are benefitting amid the cost-of-living crisis, which has seen prices soar, Roberts reiterated that Sainsbury\u2019s makes less than 3% margin.<\/p>\n
He also said it was doing everything it could to pass on cost savings on commodities \u201cas soon as possible\u201d to shoppers.<\/p>\n
However, despite falling inflation levels, Roberts said prices would not return to pre-Ukraine levels.<\/p>\n
\u201cInflation levels are going to come down this year,\u201d he said.\u201cWe would expect inflation to continue to improve but it\u2019s not going to go back to where it was before because the cost of producing food is clearly elevated from where it was a year or two back\u201d.<\/p>\n
Amid claims that supermarkets are benefitting amid the cost-of-living crisis, which has seen prices soar, Roberts reiterated that Sainsbury\u2019s makes less than 3% margin.<\/p>\n
He also said it was doing everything it could to pass on cost savings on commodities \u201cas soon as possible\u201d to shoppers.<\/p>\n
However, despite falling inflation levels, Roberts said prices would not return to pre-Ukraine levels.<\/p>\n
\u201cInflation levels are going to come down this year,\u201d he said.\u201cWe would expect inflation to continue to improve but it\u2019s not going to go back to where it was before because the cost of producing food is clearly elevated from where it was a year or two back\u201d.<\/p>\n