Enhancing drivers' power and intensifying rivalry among businesses in the sector selling road fuels
The UK government has announced its plans to launch the Fuel Finder Open Data Scheme by the end of 2025, as outlined in their response to the Competition and Markets Authority (CMA) market study on the road fuel market. This initiative aims to enhance competition and transparency for consumers by requiring fuel retailers to provide real-time price information.
In addition to the Fuel Finder scheme, the government also plans to commence its statutory information gathering powers for the road fuels monitoring function by January 2025. While the specifics of the monitoring framework have not been detailed, it is expected that ongoing oversight will be implemented after the scheme's launch to ensure retailer compliance with real-time price reporting.
The proposals for both the Open Data Scheme and the monitoring function come from the Competition and Markets Authority (CMA). The Open Data Scheme proposals suggest that certain entities will need to report specific types of data, with a focus on specific topical issues and a frequency for reports.
The government's response to the Open Data Scheme proposals is organized under each question of the consultation, and the consultation received responses to these proposals. The aim is to use the collected data to improve transparency and fairness in the road fuel market.
The implementation of the Fuel Finder Open Data Scheme and the associated monitoring function is part of the government's broader strategy to promote competition and consumer choice in the road fuel market. The government has outlined a consultation position, and it is expected that more details will be revealed as the launch date approaches.
- The UK government's strategy to promote competition and consumer choice in the road fuel market extends to technology, as the implementation of the Fuel Finder Open Data Scheme and the monitoring function requires fuel retailers to provide real-time price information, a task that could be facilitated by advances in technology.
- In addition to the road fuel market, the government's focus on improving transparency extends to other sectors as the Open Data Scheme proposals indicate certain entities will need to report specific types of data, potentially influencing the public-transit and transportation industries, among others.
- As part of its broader competitive strategy, the UK government is also looking at the finance industry, anticipating that the use of collected data from the Fuel Finder Open Data Scheme, meant to improve transparency and fairness, could help in identifying trends and patterns that may benefit businesses involved in the road fuel market.
