Labour is under pressure to speed up PumpWatch scheme to help compare fuel prices & stop motorists being ripped off
LABOUR is under pressure to speed up a long-promised PumpWatch scheme – as a watchdog warned greedy fuel retailers are still ripping off drivers.
Petrol and diesel profit margins are “stuck” at sky-high levels despite falling wholesale prices, according to the Competition and Markets Authority (CMA).
Petrol and diesel now cost 139.6p and 146.8p a litre, after rising by more than 7p since October.
And retailers are still making more than double the profit they did before 2019 – with the CMA says competition remains weak.
In a 2023 probe, the regulator found drivers were overcharged by £1.6billion in just one year.
PM Sir Keir Starmer last week told The Sun he wanted the fuel duty freeze to be “reflected in the pockets of working people”.
But the Government’s Fuel Finder tool is not due to launch until the end of the year.
The scheme – first called PumpWatch – will let drivers compare live fuel prices using phone apps, sat navs and websites.
Downing Street yesterday said the Government was “working at pace” to implement it.
CMA markets chief Dan Turnbull said: “The fuel finder scheme set to launch this year should be a game changer for drivers, allowing them to find the cheapest fuel prices while boosting competition between fuel retailers.”
AA fuel expert Luke Bosdet said: “Fuel retailers continue to drag their feet on passing on savings.”
