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Tech companies assist with fuel price transparency

12 March 2024

Leaders from top comparison sites, RAC and The AA will be among those meeting the Energy Affordability Minister to help share new fuel price data and keep costs down for motorists.

Leaders from top comparison sites, RAC and The AA, are preparing to meet the Energy Affordability Minister. Their shared aim is to reduce costs for motorists. They will do this by sharing new fuel price data. This collaboration plays a key role in the government’s PumpWatch initiative. The initiative is actively working to increase transparency and competition in fuel prices.

The initiative plans to make fuel prices public by the end of this year. This strategic move aims to stimulate competition. It also aims to empower consumers and motorists to find the cheapest fuel in their area.

The government, following its plans outlined in the Spring Budget 2024, has implemented several measures to support motorists. These measures include a freeze on fuel duty for an additional 12 months, an extension of the 5p fuel duty cut, and a cancellation of any increase with inflation. These measures have allowed the average car driver to save around £250 over the past three years, a total saving of £13 billion.

In a joint effort with The AA, Confused.com, Go.Compare, PetrolPrices.com, and RAC, the government is working to ensure that the freely available data is simple and easy to understand. This data could also be utilized by journey planning sites and in-car devices, potentially helping over 41 million drivers save money, regardless of where they live in the UK.

The government continues to work tirelessly towards reducing costs for hardworking families. The extension of the fuel duty cut, coupled with maintaining fuel duty rates at their current levels for another year, will save families 7p a litre for petrol and diesel compared to previous plans. This demonstrates the government’s unwavering commitment to making life more affordable for the average UK family.

Source: Other Tue, 12 Mar 2024 00:00:00 +0100

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