Asked by: Holly Mumby-Croft (Conservative - Scunthorpe)
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, whether his Department plans to take steps to ensure that supermarkets reflect falls in wholesale prices in consumer fuel costs.
Answered by Amanda Solloway
The Government expects retailers to pass on savings to consumers and strongly believes rigorous competition is the best way of delivering low fuel prices for consumers. The Government has therefore accepted the Competition and Markets Authority’s (CMA) recommendations to create a statutory open data scheme for road fuel prices and an ongoing monitoring function for the UK market, and will consult on this in the autumn.
In the interim, the CMA will create a voluntary scheme, by end of August, encouraging fuel retailers to share accurate, up-to-date fuel prices for publication, and continue to monitor prices using its existing powers.