Grant Shapps tells retailers ‘enough is enough’ over petrol costs
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nergy Secretary Grant Shapps has spoken with grocery store and petrol station bosses to inform them “enough is enough” over petrol costs for patrons.
Earlier the Prime Minister’s official spokesman stated the decision on Monday was geared toward getting retailers to comply with the Competition and Markets Authority’s (CMA) voluntary scheme “that would see them share their accurate road fuel prices by August so we can improve transparency and competition”.
The UK’s competitors watchdog warned earlier this month that drivers within the UK paid an additional £900 million in gas final yr as they had been charged 6p extra per litre.
The CMA then stated it might launch a voluntary scheme to supply prospects with reside, clear gas value knowledge.
There’s no excuse and the federal government is saying ‘sufficient is sufficient’
In a tweet directed in direction of UK motorists after the decision, Mr Shapps stated: “I have just got off a call with supermarket and petrol station bosses to demand that they immediately stop overcharging you at the petrol pump.
“When their costs were falling they kept prices high and refused to pass on the savings on to to you.
“Well, there’s no excuse and the government is saying `enough is enough’.
“I wanted you to know first that we’ve demanded an immediate end to overcharging and I have told bosses they must hand over their price data.
“Now this will mean that you can find the best deal and you can be alerted if anyone tries to rip you off again.”
Supermarkets reminiscent of Sainsbury’s have already stated they might welcome the scheme.
Executives from Tesco, Asda, Sainsbury’s and Morrisons, in addition to these from gas specialists BP, Shell and Esso, had been believed to have been on the assembly on Monday afternoon.
Mr Shapps stated he referred to as for an “end to inexcusable behaviour in over-charging at the pump”, and welcomed their help for the voluntary scheme.
Petrol and diesel costs soared to report ranges final yr after the Russian invasion of Ukraine however have since fallen again.
The CMA began an investigation into UK gas retailer earlier this yr amid issues that wholesale value reductions weren’t being full handed on to prospects.
The regulator stated competitors was “not working as well as it should be” in its preliminary report.
The watchdog additionally launched an investigation into grocery store grocery pricing over issues that retailers could possibly be profiteering from food and drinks inflation and is anticipated to unveil preliminary findings this month.
A spokesman for Shell stated: “We are reviewing the Competition and Markets Authority report on fuel pricing published last week, for which we inputted into and responded to all requests for data.
“We await more information from the CMA and Government on what they propose and certainly will participate in discussions on the way forwards.”