RAC fuel spokesperson Simon Williams said: “While we fully
support Mr Shapps’ attempt to get the supermarkets to voluntarily
provide real-time pump prices ahead of legislation being passed
to force them to do so, it is unlikely to bring prices
down.
“We fear the Energy Secretary’s efforts may be in vain,
particularly as apps like myRAC
already allow all drivers to compare prices free of charge.
What’s badly needed is an official wholesale fuel price
monitoring function which has the power to fine or take
action against major retailers who don’t lower their forecourt
prices when wholesale costs drop significantly. While the
Competition and Markets Authority recommended an element of
monitoring wholesale prices in its report in UK fuel retailing,
the RAC fears without the threat of consequence in the form of
fines, the biggest retailers are unlikely to lower their pump
prices quickly enough when the wholesale market trends down. This
aspect of the CMA’s report needs to be properly addressed when
legislation is put before Parliament.
“Competition only works where one or more retailers focus
consistently on cutting prices to get more people to use their
forecourts. Sadly, this is something that is currently missing
everywhere but in Northern Ireland where fuel retailing is fairer
on drivers.”
