House of Commons · Written Ministerial Statement
Energy Update
16 January 2024 · Department for Energy Security and Net Zero
Proposed by Claire Coutinho Con East Surrey
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- Government publishes consultation on road fuels to enhance market competition, price transparency, and consumer protection
- Consultation will close on March 12, 2024
- Proposed statutory open data scheme for fuel prices and CMA monitoring function
Issue summary
The statement addresses the Government's road fuels consultation to enhance market competition, price transparency, and consumer protection.
Action requested
The Government is publishing a consultation that will close on March 12, 2024. The consultation aims to implement a statutory open data scheme for fuel prices and establish an ongoing monitoring function by the Competition and Markets Authority (CMA).
Key facts
- There are 41.2 million vehicles in the UK.
- Since Spring Budget 2023, drivers have saved around £10 billion over two years from a 5p fuel duty cut.
- In 2022 alone, higher margins by four large supermarkets cost consumers an additional £900 million.
- Motorway retailers charge around 20 pence per litre more for petrol and 15 pence per litre more for diesel than elsewhere in the UK.
- The open data scheme will increase price transparency for consumers and benefit app developers.
- The CMA will undertake an ongoing monitoring function to assess competition.
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