Supermarkets willing to back fuel price checker to drive down prices
The report stated that drivers can now use PumpWatch to find the most affordable petrol and diesel offers in their area
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Energy Secretary, Grant Shapps revealed yesterday (17 July 2023) that supermarkets and retailers have agreed to back a fuel price checker to drive down prices for motorists, according to the Sun.
As part of the scheme, Tesco, Asda, Sainsbury’s and Morrisons will share cost data with the public by next month to prevent overcharging.
The news comes after Shapps summoned executives from Tesco, Asda, Sainsbury’s and Morrisons, as well as those from fuel specialists BP, Shell and Esso this afternoon, vowing to read “rip-off retailers” the riot act over pump prices at the meeting, and tell them “enough is enough”.
The report stated that drivers can now use PumpWatch to find the most affordable petrol and diesel offers in their area.
Along with BP, Shell, and Esso, the superstores consented to execute the voluntary information sharing programme of the Competition and Markets Authority (CMA) watchdog.
In a statement to the Sun, Shapps said: “The commitment to a more transparent market is a step in the right direction. But those who fail to put words into action and continue to rip off motorists will be held to account.”
The UK’s competition watchdog warned earlier this month that since drivers in the UK were taxed an additional 6p per litre more last year, they spent £900m more on petrol. As a result, a new fuel monitoring body was proposed by the CMA.
An investigation launched by the CMA earlier this year resulted in Asda paying £60,000 for failing to provide information for its fuel pricing probe when required.
