UNDER fire petrol suppliers in Inverclyde will be ordered to show 'pump prices versus profits' in a new bid to shame them into fairer fuel charges on forecourts.
Tesco and Morrisons have been heavily criticised by members of the public and local politicians for years over the inconsistent pricing regimes which regularly see motorists in the area paying over the odds compared to elsewhere.
MSP Stuart McMillan has campaigned on the issue and accused operators of a rip-off while his SNP colleague Ronnie Cowan MP labelled them 'a cartel' operating at the expense of customers in the district.
The Competition & Markets Authority, an independent UK Government body, conducted an investigation on pricing and highlighted a lack of competition.
Now the body is to be given fresh powers in a bid to improve competition in the road fuel market and protect consumers from unfair prices.
Fuel retailers, including supermarkets, will have to declare how much they are charging customers on their forecourts versus their profits.
Those that fail to comply could face a fixed fine of up to one per cent of their worldwide turnover, or an ongoing fine of up to five per cent of daily turnover.
Mr McMillan said: “I warmly welcome this news and suspect that it will be popular amongst my constituents, who know only too well what it feels like to be continually ripped off by fuel retailers.
“Thankfully, since the CMA’s review into fuel prices was published during the summer, the situation locally has improved.
"Prices now seem to be on par with nearby areas which before my Fair Fuel campaign, was not the case."
The announcement of the new powers, made by the Secretary of State for Energy Security and Net Zero, states that under new amendments tabled to the Digital Markets, Competition and Consumer Bill, the CMA will become the body responsible for closely monitoring road fuel prices and reporting any sign of malpractice to the UK Government.
MSP Mr McMillan said: “I’m grateful to the CMA for their work in this area and I hope that these new powers will mean that fuel retailers, including supermarkets, will be better held to account for what they charge at the pump.
“This should deliver greater transparency over pump prices and better value for motorists.”
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