Experts have commented on the new money-saving tools launched by the Government as a huge benefit for millions of petrol and diesel drivers.
Labour launched the Fuel Finder service yesterday to help motorists save money in their local areas by showing the cheapest and most expensive fuel prices.
The new service requires forecourt owners to publish fuel prices and the unavailability of fuel within 30 minutes of a change.
Failure to do so could lead to potential punishments, including penalties worth up to one per cent of the company’s annual revenue.
The move has been designed to help drivers see the cheapest petrol and diesel prices in their area, as motorists continue to deal with the cost of living crisis.
While forecourts are still adding data to the service, it is hoped that the database will soon provide huge price savings for motorists.
A spokesperson for PetrolPrices said: “We’re excited to see the launch of Fuel Finder and welcome any initiative that aims to bring greater transparency to fuel pricing.
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Drivers have seen petrol and diesel prices fall in recent weeks across the UK | PA
“Having been established since 2005, we’ve long supported tools that help drivers make more informed choices.
“It remains to be seen whether the scheme will drive fuel prices down, but increased visibility is a positive step.”
It added that there is no official Government website for the data to be seen, with all figures included in a large spreadsheet.
The spokesperson said it was the responsibility of comparison websites, including PetrolPrices.com, to “ingest and display the information in a meaningful way”.
The Fuel Finder scheme could help cut prices by between one and six pence per litre | PA
By shopping around, unleaded drivers could save around £205 per year, while diesel car owners could see around £240 in savings when buying 1,000 litres a year.
Current data around London shows that many forecourts are selling fuel for less than the national average, including Costco Watford, which is charging just 123.9p.
Matt Crole-Rees, motoring expert at Confused.com, said: “Fuel costs remain a major pressure for many households, so greater transparency around petrol and diesel prices is a positive step for drivers.
“Clearer pricing makes it easier to compare costs between stations and avoid overpaying, particularly when prices can vary significantly even within the same town.”
Drivers in Northern Ireland already benefit from the Consumer Council’s Fuel Price Checker | CONSUMER COUNCIL
The Consumer Council’s Fuel Price Checker shows the cheapest petrol and diesel prices across Northern Ireland, which has helped save money for thousands of drivers.
Motorists are currently paying almost 7p per litre less for unleaded and 9p less for diesel in Northern Ireland compared to England, Scotland and Wales.
The price comparison tool has helped slash costs across the country, with drivers also seeing the cheapest and most expensive costs in each town.
Carrickfergus, Newtownabbey, Belfast and Craigavon are all charging less than 123p for petrol, while motorists in Newtownabbey, Limavady, Cookstown and Downpatrick face costs of less than £1.30 for diesel.