FUEL retailers will be hauled in by Ministers today to ensure hard-up motorists aren’t being fleeced over service station rip-off prices.
Fuel prices at their lowest level in two years
Energy Secretary Claire Coutinho will hold talks with eight firms in Whitehall demanding all drivers get a fair price when driving home over the festive season.
Fuel prices have fallen by an average of 2.1p per litre every week with recent industry figures showing prices are at their lowest level in two years.
But she will tell industry chiefs she will be watching their pricing activity closely this Christmas and New Year to help millions of motorists.
The Cabinet Minister said: "As millions of people get ready to drive home for Christmas, I want to make sure they are getting a fair price for their tank.
"This year we stepped in to make sure rip-off retailers are passing on savings at the pumps for millions of hardworking people across the UK.
"Our plan is working. The price drivers are now paying at the pump is at one of the lowest levels in two years.
"But there is more to do and I will not stop until the power is firmly back in the hands of drivers to find the best fuel deal."
Supermarkets and industry groups attending the roundtable
Asda, Tesco, Sainsburys, and Morrisons will be among those attending. The RAC and AA will be among the retailers, fuel trade bodies, and consumer groups attending the roundtable.
Twelve retailers including four supermarkets have already signed up to a voluntary scheme where forecourt prices are shared so drivers can save cash.
Legal requirement to share live price information
Coutinho will today warn those who haven’t signed up that they will soon face a legal requirement to share live price information.
Tech companies will then develop new ways to find the cheapest fuel through mobile apps and journey planning tools.
She has said she will change the law so the Competition and Markets Authority can hit petrol stations who rip off motorists.
But the changes still fall short of campaigners’ demands for a PumpWatch regulator which would allow drivers to compare up-to-date prices online to find the cheapest fuel in their area.
Keeping fuel prices fair for drivers
HOAR’s Keep It Down campaign has seen fuel duty frozen at 57.95p since March 2011 and it has been temporarily slashed by another 5p in 2022 but is due to expire next March.
Concerns have been raised in recent months that motorists aren’t seeing the benefit of falling wholesale costs and the 5p fuel duty reduction.
The regulator gave a withering verdict in a report earlier this year when they found supermarkets were pocketing an extra 5p per litre in profit compared to 2019.
New research shows the average cost of filling up a car with a tank of petrol has gone up by 17 per cent or £11 since 2019 to £80.80.
The study showed that the largest increase was some 19 per cent in the North East followed by 18 per cent in London.
Political response
Sarah Olney, Lib Dem Treasury spokeswoman said: "Families driving home for Christmas are facing a nasty shock at the pump. This government has totally failed to tackle petrol profiteering.
"Ministers have been asleep at the wheel while drivers are being stung by higher prices at the pump."
