Morrisons’ boss admits supermarket chains have hiked profits on petrol

David Potts was one of several chief executives of major grocers being quizzed by MPs over accusations of profiteering

The boss of Morrisons has admitted that supermarkets have increased profits at the petrol pumps as he was quizzed by MPs alongside executives from Tesco, Sainsbury's and Asda who denied they were making more money from keeping food prices high.

David Potts told MPs on the business and trade committee: I think there is more profit at the retail end of fuel." He said supermarkets did not make much money on selling petrol and that energy, labour and transport costs had added to the barrel price" of oil to force up prices but admitted we can do more".