The Prime Minister plans to “expose” petrol stations that fail to pass on lower fuel prices from the Government’s fuel duty cut, it has been reported.
The Government introduced a 5p per litre duty cut on March 23, but this week figures showed average petrol prices exceeded £1.70 per litre for the first time.
Retailers have been accused of raising profit margins since the policy was introduced.
According to the paper, Transport Secretary Grant Shapps has suggested a “pump watch” name-and-shame scheme. Ministers reportedly opted against the idea of a windfall tax for petrol retailers.
A Downing Street source said: “Officials are considering mechanisms available to expose those companies that aren’t passing on tax benefits to consumers.”