A leading motoring organisation has blasted Labour amid demands that the Government introduce a scheme as soon as possible to help petrol and diesel drivers save money every time they visit a filling station.
The latest data from RAC Fuel Watch shows that drivers are paying an average of 135.36p per litre for petrol and 143.22p for diesel, with no significant changes expected soon.
Global conflicts have influenced the price of oil, which has a knock-on effect on the price of petrol and diesel seen at filling stations across the UK.
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At the height of tensions between Iran and Israel, there were fears the price of Brent crude oil could spike, leading to expensive fuel prices not seen since the summer of 2022.
Campaigners are calling for the Fuel Finder scheme to be introduced as soon as possible
|PA
FairFuelUK is calling on the Government to accelerate the rollout of a tool to boost competition among major retailers and supermarkets to bring down fuel prices.
In last year's Autumn Budget, the Government outlined plans to introduce a fuel price checker scheme to help motorists find the cheapest fuel in their local area.
The tool, known as Fuel Finder, is expected to launch by the end of 2025 and aims to boost competition in the road fuels market and improve transparency for the benefit of motorists.
It will require all UK retail filling stations to report prices and the unavailability of fuel within 30 minutes of a change.
Drivers saw record fuel prices in the summer of 2022 | PAIt followed recommendations set out by the Competition and Markets Authority (CMA), which continues to publish quarterly updates about the UK's fuel market.
Claire Coutinho MP, Former Secretary of State for Energy Security and Net Zero, and now Shadow Minister for Equalities since 2024, outlined the intentions of the Fuel Finder scheme and how it will benefit motorists.
The Conservative MP for East Surrey claimed that when the so-called PumpWatch scheme was introduced, the aim was to help drivers at the pump avoid being "overcharged", with Coutinho noting: "Motorists should be seeing lower prices.
"However, [Energy Secretary] Ed Miliband only cares about his eco zealotry, not ensuring drivers get a fair price."
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A Department for Energy Security and Net Zero spokesperson told GB News: "Fuel Finder is on track.
"Retailers must give drivers a fair price for their fuel, by passing on any savings at the pump. Fuel Finder will ensure retailers share real-time prices, making them more accountable to drivers.
"We have also given the Competition and Markets Authority powers to monitor competition in the road fuel market, to make sure people aren’t being charged rip-off prices when they fill up."
Wholesale fuel costs have been falling by 1.2 per cent for petrol and 3.7 per cent for diesel, although prices of both fuel types at the pumps have risen.
Retail petrol profit per litre for both petrol and diesel has grown, resulting in the average family car paying £2.09 more per tank for unleaded and £4.55 for diesel.
Analysis from FairFuelUK suggests that more than £4.5million of falling wholesale fuel costs are not being passed on to drivers every day.
The organisation estimates that these price differences are worth £250million since June 18.
Modelling from the Government suggested that pump prices could drop by between one and six pence per litre once the full benefits of the Fuel Finder scheme are in play.
Labour clarified in the Autumn Statement that the rollout of Fuel Finder would be subject to parliamentary timings, with intentions for the scheme to launch by the end of 2025.
Howard Cox, founder of FairFuelUK, said: "Opportunistic profiteering continues to be rife at the pumps. Inflated diesel prices (the commercial lifeblood of any economy), in particular, are damaging economic growth, impacting inflation and businesses hard."