UK: MPs call for creation of fuel price watchdog

A group of British Members of Parliament are calling for an independent fuel price watchdog to monitor the cost of petrol and diesel.

The idea of an independent fuel price watchdog called Pumpwatch is supported by an All-Party Parliamentary Group (APPG) as they accuse the petrol industry of increasing its profit margins.

The plan for an independent watchdog follows a petition by pressure group FairFuel UK that raised 14,000 signatures since the week before Christmas.

According to the group, petrol retailers made an average profit of 8p a litre and 8.6p a litre on petrol and diesel respectively in the first nine months of 2018 – but by the end of the year these had risen to 13p and 11p a litre, reports the BBC.

"Drivers need reassurance that they are not paying way over the odds for fuel," said Kirstene Hair, the chair of the APPG.

The fuel industry firmly rejected the plan for a price watchdog.

"While it is possibly a well-meaning idea, it would be pretty impracticable," said Brian Madderson, chairman of the Petrol Retailers Association.