A new fuel finder scheme to enable drivers access to live fuel prices and
revitalise competition in the retail road fuel market, according to the
Competition and Markets Authority (CMA).
The scheme would be made possible by new compulsory open data requirements and
backed by a new 'fuel monitor' oversight body.
The proposals are the key recommendations by the CMA to the UK government
following its report into the road fuel market.
The report found that between 2019 and 2022, average annual supermarket margins
have increased by 6p per litre (PPL).
According to the CMA, greater transparency and shopping around as effectively as
possible, the driver of a typical family car could save up to £4.50 a tank
within a five-minute drive.
Sarah Cardell, Chief Executive of the CMA, said:
'We need to reignite competition among fuel retailers and that means two
things. It needs to be easier for drivers to compare up to date prices so
retailers have to compete harder for their business.
'This is why we are recommending the UK government legislate for a new fuel
finder scheme which would make it compulsory for retailers to make their
prices available in real time. This would end the need to drive round and
look at the prices displayed on the forecourt and would ideally enable live
price data on satnavs and map apps.'
Internet link: GOV.UK