On Jan. 16, UK ESNZ proposed scheme for easier cheapest fuel choice.
UK ESNZ consulted on Pumpwatch scheme to make it easier for drivers to shop around for cheapest fuel, via navigation apps, in-car devices and comparison websites.
Views sought on new legal requirement to share prices within 30 minutes of a change.
Follows UK CMA Jun. 2022 conducted swift fuel retail market review, see #140321.
Follows UK CMA updated guidance on data provided by suppliers as part of temporary road fuel price open data scheme to include participating retailer data, see #183484.
Overview
UK ESNZ set out next steps for fair fuel pump prices, change how UK shops for fuel.
Pumpwatch scheme would see all fuel stations across the country legally required to share real-time price information with an organisation to be appointed by UK GVT.
Background
UK GVT acted after some fuel retailers were found to be overcharging customers.
Noted that there are already signs that fairer deals are returning to forecourts.
Since these interventions, fuel prices have fallen by an average of around 2p per litre every week between Nov. 13-Dec. 25, bringing petrol prices down to Oct. 2021 level.
In Nov. 2023, UK CMA was appointed as the body responsible for monitoring the road fuel market, in order to increase transparency and competition in fuel pricing.
UK CMA will also shine light on any attempt from retailers to overcharge drivers, advising UK GVT on any further action required to make competition work well.
Proposal
Forecourts will be legally required to share live data on pump prices within 30 minutes of price change, which could save drivers 3p/litre on fuel by helping find best deal.
This freely available data will enable tech companies to develop new ways for the UK’s 41.2mn drivers to search for the cheapest fuel while on-the-go, via mobile apps, online mapping platforms, journey planning tools, price comparison websites, in-car devices.
UK ESNZ pointed to a similar statewide scheme in Queensland, Australia which saw drivers save average $93/year (£48) by making it easier for them to shop around.
Forcing retailers to be transparent about how much they are charging and giving drivers access to price comparison technology will help drive down prices.
Twelve of the biggest retailers, including all 4 fuel-selling supermarkets, have already signed up to an interim voluntary scheme run by UK CMA to share their daily prices.
And some news outlets and websites use this data to offer price comparisons.
Consultation also covers some aspects of CMA’s new role monitoring road fuel market.
Industry have been asked for their views on areas including topics CMA will focus on, frequency of reporting, support to help businesses with CMA’s information requests.
Papers Deposited in House of Commons
On same date, UKP published papers UK ESNZ deposited with House of Commons.
Published versions of Empowering drivers and boosting competition in the road fuel retail marketconsultation and the related impact assessment: road fuels.
Effectiveness
The deadline for comments on the consultation is 11:59pm GMT on Mar. 12, 2024.
In Mar. 2024, UK ESNZ said firms will collaborate to drive down costs, see #204231.
In Mar. 2024 UK CMA responded to ESNZ road fuel market consultation, see #206540.
Oct. 30, 2024 Consultation Outcome
On Oct. 30, 2024, UK ESNZ issued its response to the consultation, including summary of feedback received, and UK ESNZ response to these, along with planned next steps.
UK ESNZ confirms plans to implement the open data scheme (called Fuel Finder) and UK CMA's monitoring function, and sets out final design of the open data scheme.
It also sets out some elements of the CMA monitoring scheme, including key timelines.
UK ESNZ is committed to implementing Fuel Finder as quickly as possible, so will conduct a procurement exercise in early 2025 to find aggregator to create and run it.
Subject to necessary legislation, the aim is to launch Fuel Finder by the end of 2025.
And aim is to start CMA's statutory information gathering powers for its road fuels monitoring function, in Digital Markets, Competition and Consumers Act, by Jan. 2025.
