0410 GMT December 01, 2022
Business Secretary Kwasi Kwarteng said on Sunday the investigation would find out why fuel prices were always quick to rise but slow to come down, Reuters reported.
The price of oil has surged worldwide, driven by Russia's military operation in Ukraine and economies reopening after the pandemic.
Britain reduced fuel duty by 5 pence per litre for one year in March in a five-billion-pound (6.2-billion-dollar) package to ease the burden on motorists amid a worsening cost-of-living crunch for households.
However, prices have continued to rise, and the average cost of filling a family car rose above 100 pounds for the first time last week, according to data firm Experian Catalist.