SOARING oil prices have led to bumper profits on petrol sales at Britain's biggest supermarkets, revealed fresh figures released yesterday.

Profit margins on petrol sales have nearly tripled since 2019 at the big four food retailers, according to data from RAC.

Margins widened to 8.6 per cent last month, up sharply from the 3.2 per cent registered three years ago.

The news was first reported by The Sunday Times.

Asda was the lead discounter of fuel in the UK, analysts at Shore Capital said, but added the supermarket's new owners, the Issa brothers, are now using petrol as a profit generator.

(c) 2022 City A.M., source Newspaper