Asda becomes the pioneer among supermarkets in offering local fuel prices online, addressing concerns over rising fuel costs.
- Motorists can now access daily updated fuel prices from Asda’s forecourts before planning their trips, enhancing consumer convenience.
- This initiative follows scrutiny from MPs over Asda’s alleged price hikes, which had reportedly inflated motorists’ expenses by £900m the previous year.
- Asda assures its pricing strategy remains constant despite acquisitions, and aligns with the government’s voluntary scheme for better fuel price transparency.
- The retailer is committed to advancing technology for real-time pricing and collaborating with the government to establish an industry-wide fuel finder scheme.
In a groundbreaking move within the supermarket sector, Asda has become the first to publish local fuel prices online. This initiative is designed to provide transparency and convenience to customers, allowing them to verify fuel costs before visiting a petrol station. Asda’s forecourt pricing will be available on their store locator pages, updated daily at 10:30 am, showcasing the previous day’s closing prices.
This development comes in response to growing scrutiny over the past months as fuel prices have surged. An investigation by the Competition and Markets Authority (CMA) revealed that consumers paid an extra £900m last year at supermarket-owned forecourts due to increased profit margins. In light of these findings, a voluntary scheme was introduced, urging supermarkets to publish fuel prices to enable better price comparisons for consumers.
At a recent Business and Trade Committee meeting, Asda’s co-owner Mohsin Issa was questioned about pricing strategies, particularly since the business was acquired in 2021. Despite intense questioning described as akin to “drawing teeth,” Issa maintained that the pricing approach had remained unchanged. He assured that Asda continues to lead in price, and that the online publication of fuel prices will aid consumers in finding optimal value at the pumps.
Asda stated their commitment to further enhancing this system to potentially include real-time pricing in the forthcoming months. Part of Asda’s strategy includes collaborating with the government to create a comprehensive industry-wide fuel price finder scheme. This partnership aims to drive greater transparency and consumer empowerment across the fuel retail sector.
Asda’s approach sets a precedent in the supermarket industry, fostering transparency in fuel pricing while planning advancements in real-time data solutions.
