What is ‘Fuel Finder’ and how will it help motorists?
From now on, fuel retailers must supply real-time data of price changes to the cost of fuel.
The price of petrol has been its lowest since 2021, with the average price capped at 131.91 pence-per-litre.
However, from now on, consumers could save even more money at the pumps with the introduction of the government’s ‘Fuel Finder’ scheme, which has come into force this week.
So, what is the Fuel Finder scheme? What are the benefits? And, how can I access the information?
What is the Fuel Finder scheme?
The Fuel Finder scheme was first introduced by the former Conservative Government in 2023 and was put into action by the Labour Government this week.
Fuel finder makes it mandatory for the UK’s fuel retailer network to report any changes in the cost of fuel within 30 minutes of data coming into effect.
Fuel retailers are required to supply real-time data to the government’s Fuel Finder via its website. To do this, the retailer must update the prices via the online portal and notify the scheme of any price changes.
The scheme is designed to provide consumers with real-time pricing in a bid to make it easier and more effective to find the cheapest fuel nearby.
How can I access the fuel price data?
Consumers can access the data via the government’s ‘Department for Energy Security and Net Zero’ website.
The site provides a chunky ‘CSV’ file, which can be downloaded, and supplies retail prices of different fuel types, fuel station forecourt details including the address, operator and brand, timestamps of when the fuel prices were last updated and site amenities and facilities.
Also, consumers can subscribe to the ‘CSV’ file email, which will provide drivers with the latest link to their inbox every time the fuel prices update.
Furthermore, if you don’t want to download the information via the government website, then you can download apps via your smartphone with ‘PetrolPrices’ and ‘fuelGenie’ providing the same data.
What are the scheme’s benefits?
The benefits to Fuel Finder is for it to help drivers save money at the pumps, as the accurate data provided by the scheme means that consumers can compare fuel prices nearby.
The government claims the scheme could save drivers up to £40 a year in fuel, which will make it a lot more cost-effective to run a combustion-powered vehicle.
Also, the service is available to anyone, which means that comparison websites, organisations, and third-party tools can publish the data, which will make it easier for people to access the information if they don’t want to download the files from the government website, or they haven’t got a smartphone to download the appropriate apps that supply the data.
What causes fuel prices to fluctuate?
Fuel prices can differ depending on global crude oil supply and demand. Plus, the price we pay at the pumps can all relate to the exchange rate, crude oil wholesale prices as well as the distribution and refining costs to make the fuel.
Even the cost of fuel duty, VAT, supply chain issues and change in season can all play a part in the rise and fall in fuel prices.
