New Scheme Enables Fuel Price Comparison Across UK Petrol Stations
Drivers in the UK can now compare fuel prices at all petrol stations nationwide as part of a government initiative designed to help consumers find the best deals.
Starting Monday, petrol stations and garages are required to report their fuel prices to third-party applications and websites within a 30-minute timeframe.
Chancellor Rachel Reeves highlighted the benefits of the Fuel Finder Scheme, stating it could save the average household approximately £40 annually.
Motoring organizations have noted that motorists may pay up to 20p more per litre for petrol or diesel depending on their location within the country.
Competition and Markets Authority Comments on the Scheme
The Competition and Markets Authority (CMA) explained that the Fuel Finder Scheme will enable "drivers to find the best deals and spur competition as fuel retailers compete for customers."
The UK watchdog recommended implementing the scheme following several reports examining fuel prices at UK forecourts.
Its latest study revealed that competition between petrol stations remains "weak," with retailers maintaining "persistently high" profit margins.
Industry Perspective and Pricing Trends
The Petrol Retailers Association acknowledged that the industry faces increased wage and tax expenses but emphasized that current pump prices are significantly lower than the peaks experienced in 2022 and 2023, which were influenced by Russia's full-scale invasion of Ukraine that caused oil prices to surge.
The CMA also observed that retail fuel prices tend to "rise like a rocket, but fall like a feather" in reaction to fluctuations in crude oil costs.
Background and Implementation of the Shared Price Database
The policy mandating a shared price database was initially proposed by the Conservative Party in 2023 and later announced by the Labour government during last year's Budget.
While the Fuel Finder Scheme collects and disseminates pricing data along with information about forecourt services such as car washes, air pumps, and toilets, there is no dedicated government application directing motorists to the cheapest fuel stations.
Instead, this open-source data will be utilized by established apps and websites that already provide mapping and price comparison services for fuel across the UK.
Previously, sharing price data was voluntary; however, under the new scheme, all businesses selling petrol and diesel must upload their price changes to a government-managed database.
Available Comparison Tools and Reporting Discrepancies
Current apps and websites that provide fuel price comparisons include PetrolPrices, Waze, My RAC, and the AA app, as well as in-car navigation systems and online map services.
Government guidance advises drivers who notice discrepancies between prices displayed on comparison apps and those advertised at fuel forecourts to report these inconsistencies via the Fuel Finder website.
Current Fuel Prices and Industry Comments
According to the RAC motoring group, petrol currently costs 131.91p per litre, marking the lowest price since July 2021, while diesel is priced at 140.97p per litre.
"As a growing number of the country's 8,300 forecourts submit their prices on a daily basis, drivers will be able to easily find the cheapest forecourts near them using their favoured app or sat-nav," said Simon Williams, RAC head of policy.
