Summary
A new scheme in the UK allows drivers to compare fuel prices at petrol stations across the country. This government initiative requires all petrol stations to report their prices within 30 minutes to third-party apps and websites. It aims to help consumers find cheaper fuel and increase competition among fuel retailers.
Key Facts
- The UK government launched a Fuel Finder Scheme for fuel price comparison.
- All petrol stations must report their prices to apps and websites within 30 minutes.
- The scheme could save the average household £40 a year.
- Motorists can pay up to 20p more per litre depending on where they buy fuel.
- The Competition and Markets Authority (CMA) supports the scheme to boost competition.
- A recent CMA study showed weak competition and high profit margins at fuel stations.
- Petrol is currently 131.91p per litre, and diesel is 140.97p per litre.
- Apps like PetrolPrices and Waze will use the price data to help consumers find the cheapest fuel.
