Drivers warned not to fill up with petrol this week amid hopes from new law change

Drivers filling up their tanks this week might want to hold off amid a fresh law change that could lead to savings at the pump. Motorists filling up their tanks this month might feel the impact of the new law.

The government has recently enacted a law that empowers them to keep an eye on price gouging and abuses specifically at petrol and diesel forecourts. This comes as RAC breakdown experts highlight that the UK boasts the highest diesel prices in Europe, along with some of the steepest petrol prices.

At present, the average cost of a litre of petrol stands at 149p, while diesel is priced at 155p. The newly introduced Digital Markets, Competition and Consumers Act is expected to result in lower prices at petrol stations and put an end to price gouging with high retailer margins on refuelling.

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Both figures significantly exceed the European averages of 144p and 134p respectively. The new legislation, which took effect on May 24, states: "The Act will also give new powers to the CMA to closely monitor road fuel prices and report any sign of malpractice to the government", reports the Express.

This could translate into lower prices once the law is fully implemented, so it might be worth holding off on refuelling to see if prices do indeed drop. The RAC said: "We can see no good reason why retailers in Great Britain aren't cutting their prices at the pumps.

"It's important to note that in Northern Ireland, where there is greater competition for fuels in the absence of supermarket dominance, the average price of diesel is just 144.9p 10p less than the UK average, and petrol is 6p cheaper at 142.4p.

"There is cause for hope for fairer fuel prices in the future as the Digital Markets, Competition and Consumers Act became law on Friday, giving new powers to the Competition and Markets Authority to closely monitor road fuel prices and report any sign of malpractice to the Government."