Hopes new pump watch could save drivers £4.50 a tank as 2 supermarkets shamed over petrol prices with Sun praised
DRIVERS could soon save £4.50 a tank as No10 today promised a Pumpwatch scheme to help customers find the best deals.
It comes as the top four petrol supermarkets were named and shamed in a fresh report by Britain’s fuel watchdog for overcharging hard-pressed drivers by £900 million last year.
The Sun has spent months campaigning for a petrol price finder website.
Praising our efforts to back motorists, Energy Security Secretary Grant Shapps said: “The Sun has been in the driving seat in helping expose rip-off retailers and hold them to account for their outrageous overcharging at the pumps.
“Today’s bombshell report lays bare the true scale of some supermarkets’ shocking price hikes.
“Fat cat bosses jacked up prices when fuels costs rocketed but have failed to pass savings on now costs have fallen.”
Mr Shapps added: “I’m putting the brakes on this and going full throttle to end these unacceptable practices.
“The tough action we are taking today will put power back in the hands of motorists and ensure prices down as they should.”
Supermarket profits soared by 6p per litre between 2019 and 2022.
Asda and Morrisons in particular “significantly increased” margins at the expense of customers battling the cost of living squeeze.
Meanwhile, motorway service stations charged around 20p more for petrol and 15p more for diesel compared to other fuel stations.
In its report today the Competition and Markets Authority officially recommended a Pumpwatch.
The ‘fuel finder’ scheme would show drivers online where they can bag the best deals.
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A No10 spokesperson confirmed the government WILL change the law to force retailers to give up to date price information.
New powers will be handed to a public body to closely monitor the UK road fuel market, scrutinise prices and alert ministers if further action is needed.
Pumpwatch could save the typical family car up to £4.50 a tank within a 5-minute drive.
A Downing St spokesperson said: “It’ not right that drivers aren’t getting the right deal for fuel and have been overcharged by retailers.
“When costs are already running high it’s right we shine a light on this situation and sunlight is the best disinfectant.”
A similar system in Northern Ireland saw fuel prices fall.
A consultation on the plans will take place in Autumn, with the hope that a system could be in place by the end of the year.
Sarah Cardell, Chief Executive of the CMA, said: “Competition at the pump is not working as well as it should be and something needs to change swiftly to address this.
“Drivers buying fuel at supermarkets in 2022 have paid around 6 pence per litre more than they would have done otherwise, due to the four major supermarkets increasing their margins.
“This will have had a greater impact on vulnerable people, particularly those in areas with less choice of fuel stations.”
RAC fuel spokesman Simon Williams said: “This is a landmark day when it comes to fuel prices in the UK.
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“The fact that drivers appear to have lost out to the tune of nearly £1bn as a result of increased retailer margins on fuel is nothing short of astounding in a cost-of-living crisis and confirms what we’ve been saying for many years that supermarkets haven’t been treating drivers fairly at the pumps.”
“It’s all about action now and we very much hope the Government follows through with both of the CMA’s recommendation.”
Chancellor Jeremy Hunt said: “When their customers are feeling the pinch, retailers should not be charging over the odds for fuel as some have been.
Thank you CMA for identifying – we are putting a stop to this.”