Following the recent ruling by the CMA that drivers have been paying more for fuel at supermarkets because of weaker competition, Asda has announced that it will become the first supermarket to publish local petrol and diesel prices.
The latest fuel prices at each of its filling stations will be available at 10.30am on Asda’s Store Locator pages so that motorists can check and compare to other retailers.
Last month, the CMA said it was planning a new scheme that would give drivers access to live fuel prices on their phones or satnavs to help revitalise competition in the market.
Asda stated today that it was continuing to develop a system that will show real-time pricing and expects this to be in place in the coming months. It noted that it was also working collaboratively with the Government to develop an industry-wide fuel finder scheme.
A spokesperson for said: “Asda is proud to be the price leader in the fuel and by sharing our prices online customers will be able to find the best value at the pumps before they get in the car.”
Asda was fined £60,000 for failing to properly cooperate with the CMA’s inquiry into the fuel market. The regulator found that supermarkets had deliberately increased their profit margins by keeping fuel prices higher than they needed to have been during the cost of living crisis.
NAM Implications:
- An inevitable development in the New Norm.
- i.e. the ability to access the price of anything, anywhere, any time…
- And in the case of fuel prices, Asda will have secured the innovator’s advantage.
- But no advantage unless Asda are the lowest prices available…
- A pointer for all…
