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 Flying Eze 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.”;
