DRIVERS could soon save £4.50 a tank as No10 today promised a Pumpwatch scheme to help customers find the best deals.
It comes as the top four petrol supermarkets were named and shamed by Britain’s fuel watchdog for overcharging hard-pressed drivers by £900 million last year.
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Supermarket profits soared by 6p per litre between 2019 and 2022.
Asda and Morrisons in particular “significantly increased” margins at the expense of customers battling the cost of living squeeze.
Meanwhile, motorway service stations charged around 20p more for petrol and 15p more for diesel compared to other fuel stations.
In a fresh report published this morning the Competition and Markets Authority officially recommended a Pumpwatch.
The ‘fuel finder’ scheme would show drivers online where they can bag the best deals.
A No10 spokesperson confirmed the government WILL change the law to force retailers to give up to date price information.
New powers will be handed to a public body to closely monitor the UK road fuel market, scrutinise prices and alert ministers if further action is needed.
Pumpwatch could save the typical family car up to £4.50 a tank within a 5-minute drive.
A Downing St spokesperson said: “It’ not right that drivers aren’t getting the right deal for fuel and have been overcharged by retailers.
“When costs are already running high it’s right we shine a light on this situation and sunlight is the best disinfectant.”
A similar system in Northern Ireland saw fuel prices fall.
The Sun has spent months campaigning for a petrol price finder website.
A consultation on the plans will take place in Autumn, with the hope that a system could be in place by the end of the year.
Sarah Cardell, Chief Executive of the CMA, said: “Competition at the pump is not working as well as it should be and something needs to change swiftly to address this.
“Drivers buying fuel at supermarkets in 2022 have paid around 6 pence per litre more than they would have done otherwise, due to the four major supermarkets increasing their margins.
“This will have had a greater impact on vulnerable people, particularly those in areas with less choice of fuel stations.”
RAC fuel spokesman Simon Williams said: “This is a landmark day when it comes to fuel prices in the UK.
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“The fact that drivers appear to have lost out to the tune of nearly £1bn as a result of increased retailer margins on fuel is nothing short of astounding in a cost-of-living crisis and confirms what we’ve been saying for many years that supermarkets haven’t been treating drivers fairly at the pumps.”
“It’s all about action now and we very much hope the Government follows through with both of the CMA’s recommendation.”
