Fuel retailers urged to back government price sharing scheme

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Fuel retailers urged to back government price sharing scheme
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The energy secretary is asking supermarkets and petrol stations to publish prices to aid competition.

Supermarkets and other fuel retailers have until August to voluntarily share live prices in a government scheme designed to prevent overcharging.

The secretary of state will give retailers until next month to agree to the voluntary Competition and Markets Authority scheme to share live fuel prices, in order to improve transparency and increase competition. However, the CMA, the UK's competition watchdog, investigated the UK fuel market earlier this year following concerns falling wholesale prices were not being passed on to consumers.It concluded competition was "not working as well as it should be".

Mr Cox said he would like to see retailers commit to a "kitemark scheme" in which they pledged to offer "honest and fair pricing".The campaigner said the current system was "opaque" and called for every garage owner and retailer to input live prices to a database daily so "we can see for once in our lives how prices are arrived at".

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