Grant Shapps is set to meet with supermarket bosses over “sky-high” fuel prices, which surged in recent months.
According to Sky News, the energy minister says he will call in the bosses of Asda, Tesco, Morrisons and Sainsbury’s, as well as leading fuel firms such as BP, Shell and Esso, later today.
The minister is reportedly planning to demand the retailers release their pricing information to the Competition and Markets Authority (CMA) as part of a new scheme aiming to give customers better comparison data on local fuel rates.
Asda was previously fined £60,000 for failure to provide information to the CMA when required. It came after an investigation which found drivers paid an extra 6p per litre for fuel last year, after supermarkets increased their profit margins.
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The watchdog found that competition has “weakened”, as Asda and Morrisons decided to increase the amount of money it makes on fuel.
As a result, the CMA discovered that Tesco and Sainsbury’s had priced by comparison to local competitors, rather than responding to cost movements in the market.
In an editorial in The Sun, Mr Shapps said he would be “slamming the brakes down on the mistreatment of motorists” at the meeting.
“On Monday, I will be calling in the bosses of Asda, Tesco, Morrisons and Sainsbury’s – as well as the likes of BP, Shell and Esso – to explain themselves.
“I want to hear how they are going to fix this. I will be telling them to do the right thing and immediately end any attempt to overcharge at the pumps.
“I will demand that these companies sign up to the CMA’s scheme this summer to hand over their pricing information so that fuel comparison apps and websites can help consumers compare local fuel rates more effectively,” Shapps said.
It comes as MPs are to question Asda owner Mohsin Issa as they demand answers over its fuel pricing.
