Asda has emerged as the pioneering supermarket to disclose its local fuel prices online, following indications from regulators that companies were amplifying their profit margins at the pump, a practice dubbed “greedflation”.
Starting today, fuel prices at each of Asda’s petrol stations can be viewed online via its Asda Store Locator pages.
The data will be updated daily at 10.30 am, reflecting the prior day’s closing price.
This move follows a recent report from the Competition & Markets Authority (CMA) revealing an increase in supermarkets’ annual fuel margins from 4.6p per litre in 2019 to 10.8p last year. The report highlighted the supermarkets’ failure to pass on profits that accounted for an extra £900m in costs last year.
Asda has plans to roll out real-time fuel pricing in the near future.
A spokesperson for Asda stated, “We at Asda take pride in leading the market on fuel pricing. By publicizing our prices online, customers can determine the most economical option at the pump before they even start their car.”
