UK Government announces Pumpwatch scheme to promote fair fuel pricing

In a significant move aimed at ensuring fair fuel pricing across the UK, the Department for Energy Security and Net Zero has unveiled plans for a new initiative known as the Pumpwatch scheme.

This scheme mandates that petrol stations nationwide report live information on their fuel prices within 30 minutes of any change. This initiative is expected to aid millions of drivers in making more informed decisions, potentially saving them approximately 3p per litre by enabling them to locate the best fuel deals.

Under these new proposals, the real-time fuel price data will be accessible through various platforms including navigation apps, in-car devices, and comparison websites. This increased transparency in pricing is part of the Government's broader efforts to reduce living costs for UK residents.

The industry has been invited to share its views on this new legal requirement, marking a significant step in government action to drive down fuel costs.

Energy Security Secretary Claire Coutinho said: “Our work on competition and transparency is working. Drivers are now paying the lowest average price at the pump for 2 years.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.”

Howard Cox, the founder of the FairFuelUK campaign and Secretary to the Fair Fuel APPG for motorists and hauliers, expressed his support for the scheme. He remarked on the substantial increase in profit margins for petrol and diesel since before the Covid Pandemic, underscoring the long overdue need for a system like Pumpwatch.

Cox said: “Profit per litre has increased massively for petrol and diesel since before the Covid Pandemic. It is way past time that PumpWatch has not been in operation. So, I am more than delighted that FairFuelUK’s decade of campaigning to see fairer, transparent, and honest pump pricing is nearing fruition.

“Years of lobbying the Government seems to have paid off. I am delighted that a PumpWatch consumer pricing watchdog will roll out with teeth to protect UK’s millions of hard-pressed drivers from perennial profiteering by the fuel supply chain at the pumps.

“I want to put on record my thanks to Minister Claire Coutinho for listening, acting and ensuring there is nowhere to hide for those fuel supply chain bandits.”