Drivers are being urged to take part in a public consultation which ends today that could see them benefit from massive savings at fuel stations.
New plans will see the Government introduce a fuel price checking scheme, known as PumpWatch, which could make petrol stations more competitive and slash costs. The scheme was first presented by Howard Cox and the FairFuelUK campaign in a bid to help hard-pressed motorists at the pumps.
Data from the Competition and Markets Authority (CMA) found that major retailers and supermarkets overcharged drivers by £900million in 2022 alone with inflated costs at the pumps.
With the upcoming PumpWatch scheme, filling station operators must report retail fuel price changes within 30 minutes of the price change on the forecourt.
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The new measures could see drivers save at the pumps
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It has been suggested that most filling stations could report price changes far quicker, with the Government seeing the 30-minute target as a suitable timeframe for a diverse market.
In the lead-up to the end of the consultation, the Government met with leading motoring organisations like the RAC and AA to better understand how the scheme could be implemented.
Head of Roads Policy at the AA, Jack Cousens, said: “What the Government and the CMA is achieving with its pump-price transparency scheme is fast on the road to what the AA has called for and envisaged for more than a decade.
“For years, European countries have provided their motorists with the ability to check pump prices wherever they go and thus spur competition. The UK is now getting there.
“Bringing tech firms into the picture will help that process and lead to innovative use of the price data.”
He highlighted a specific piece of innovation used in Northern Ireland with the Consumer Council Fuel Price Checker which has helped keep costs down for motorists.
The average price of unleaded petrol is 144p per litre, while diesel drivers are forced to fork out 152.57p per litre across the UK.
However, thanks to the Consumer Council tool, motorists in Northern Ireland benefit from cheaper prices by around 5p.
While petrol in Northern Ireland has increased by 0.1p in the last month, it is still only 139p, five pence cheaper than the rest of the UK. Similarly, drivers pay 147.9p per litre for diesel, a saving of almost five pence.
Drivers can also see granular details of prices showing how Antrim has the lowest prices for petrol at 135.9p per litre and Magherafelt charges just 139.9p for diesel.
Data from Confused.com found that one in five drivers have been forced to use their car less during the cost of living crisis and the rising price of motoring.
Steve Dukes, CEO of the price comparison site, said: “Encouraging fuel retailers to share up-to-date pricing information through the PumpWatch initiative will make a huge difference to drivers who are trying to manage costs.
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The aim of the scheme is to make petrol stations more competitive and lower costs
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“Naturally they may be tempted to go to their closest station. But being able to research cheaper pumps nearby could save a considerable amount of money when filling up.
“We hope that drivers having this transparency will only encourage retailers to be more competitive with their prices where they can.”
The consultation ends this evening at 11.59pm, with the Government expected to implement plans before the end of the year.
