Road Fuel Prices

Baroness Blake of Leeds Excerpts

Tuesday 4th July 2023 Lords Chamber

[Baroness Blake of Leeds (Lab)]

My Lords, cost of living pressures are affecting people right across Britain. In that context, we welcome the Government commissioning the Competition and Markets Authority to investigate soaring fuel prices last July. The CMA has finally recommended measures to improve fuel price transparency and stop inflated fuel prices being passed on to hard-hit consumers. The fuel finder open data scheme is welcome, but given that retailers have been inflating the prices, how do the Government expect the CMA’s voluntary scheme to work? When will the Government end the painful wait for consumers and bring forward the legislation that is needed to enforce it?

[Baroness Kramer (LD)]

My Lords, the Government have stood for this gouging behaviour by the supermarkets over the past year. In rural areas such as Somerton and Frome, and Mid Bedfordshire, people find themselves facing the highest prices and the least competition, and will benefit the least from the comparison scheme. I have two questions for the Minister. Is it fair that supermarket bosses will get bonuses based on gouged profits, and will the Minister review the rural fuel duty relief scheme, which gives a 5p-per-litre reduction, to see whether it can be extended to rural areas not presently covered?