Every petrol and diesel driver in the UK will be affected by a major new rule that came into effect on February 2. Last week, the Competition and Markets Authority (CMA) launched its fuel finder scheme, which provides up-to-date price details on fees across the country.
Under the massive change, drivers across the UK can easily compare prices at every fuel station in the country for the first time. Fuel stations could already inform the CMA of any price changes on their product, but this was done on a voluntary basis up until now.
As part of the new system, petrol stations are legally obliged to update live prices within 30 minutes of any changes at the forecourt, allowing road users to compare the competition and shop around.
The Government has already claimed that the new system could help road users save up to £40 in fuel costs per year. The RAC stressed the programme would “help households save money at a time when everyday costs are rising”.
The motoring experts explained: “Fuel Finder provides a wide range of useful information. It includes the current pump prices for all fuel types at every petrol station, along with details about each forecourt such as its address, operator, and brand. Users can also see what facilities are available on site and check opening hours.”
The new system offers much greater transparency, exposing higher-priced stations and putting pressure on them to lower costs. There is no official Government app relaying fuel finder data, with information instead provided to third-party suppliers and in-car navigation systems.
The most popular services utilising the new information include services such as PetrolPrices and fuelGenie. AA President Edmund King backed the new tool, predicting that the system could lead to a massive "shake-up" of fuel costs in the UK.
He explained: “For too long, UK drivers have been hostage to the whims of fuel retailers and not being able to see that a far lower pump price could be found just down the road.
“Like in Austria, France and other parts of Europe, the AA believes a shake-up of pump prices will happen as drivers increasingly use mobile devices and in-car systems to choose where to buy cheaper fuel.”
