Oligopoly - Supermarkets investigated over "rocket and feather pricing"

It looks like the Competition and Markets Authority (CMA) is interested in the pricing strategies of supermarkets as regards fuel and food. The term 'rocket and feather' pricing has been used to describe a situation where prices go quickly go up in response to supply-side shocks and then take lower to come down as wholesale markets return to normal, and there's a fear that supermarkets might be exploiting consumers as a result.

Additionally, factor in the oligopolistic market structure, and this may also contribute to price stickiness that stops prices falling as quickly as would be the case in more competitive markets.

Watch this space! Of course, any economist worth their salt would tell you that Keynes expressed many of these sentiments a century ago...