Fuel retailers in the UK will be legally required to share near-live information on price changes at the pump, as the government accuses them of treating motorists as “cash cows”. Under new plans, petrol station owners must provide data within 30 minutes of any change, aiming to help drivers find the cheapest petrol and diesel.
The move follows a voluntary scheme launched last August, where major players including Tesco, Sainsbury’s, Asda and Morrisons provided daily fuel price data to the Competition and Markets Authority (CMA). The new rules will make this a legal requirement for all UK fuel retailers, with local authorities gaining powers to impose financial penalties on non-compliant stations.
The Department for Energy Security and Net Zero plans to contract an aggregator to manage the data, which will be made freely available. Ministers hope tech companies will develop price comparison tools to bring the information to drivers. The plans will be consulted on for eight weeks.
Energy Security Secretary Claire Coutinho said: “We are forcing retailers to share live information on their prices within 30 minutes of any change in price, helping drivers to find the best deal at the pump. This will put motorists back in the driving seat and bring much-needed competition back to the forecourts.”
The government and motoring groups have repeatedly accused retailers of ripping off consumers and not passing on falls in wholesale prices. A CMA investigation found that prices had risen since 2019 due to traditional price leaders competing less hard. Last year, the CMA said UK motorists paid about £900m in additional costs in 2022 due to supermarkets failing to pass on savings from lower oil prices.
RAC fuel spokesperson Simon Williams said: “Time is critical now. We need this to happen as quickly as possible. Sadly, there have been far too many occasions where drivers have lost out at the pumps when wholesale prices have fallen significantly and those reductions haven’t been passed on quickly enough or fully enough by retailers.”
