BORIS Johnson wants to name and shame petrol stations which refuse to lower fuel prices.
The Prime Minister is understood to be furious that the 5p cut in fuel duty has not been passed on to customers at many pumps.
He has tasked the Department for Transport to draw up proposals to expose the culpable firms.
Transport Secretary Grant Shapps has suggested a government-run forecourt watch or pump watch scheme to name and shame them.
A Downing Street source told the Sunday Telegraph: “Officials are considering mechanisms available to expose those companies that aren’t passing on tax benefits to consumers.”
A Cabinet minister added: “It’s not up to the Government how much profit business makes. But when we deliver a 5p cut in duty you expect good capitalists to pass it on.”
It comes after motoring body the RAC warned that retailers were taking 2p-per-litre more on average than before the 5p in March.
Senior ministers also discussed last week imposing a tax on petrol firms, similar to the windfall tax on oil and gas companies.
But it is understood ministers settled on pursuing a less interventionist measure,
Earlier this month we told how fatcat oil bosses more than doubled forecourt profits in the last four years, sparking calls for price cuts.
Stats by campaigners FairfuelUK show firms make 126 per cent more on an average tank of petrol since 2016.
That is £6 every time an average motor tops up.
Tory MPs urge a price cut of 10p.
Calling for a pricing watchdog, FairFuelUK’s Howard Cox said: “It nauseates millions that in a time of financial uncertainty rich businesses care so little for their customers’ plight.
“Oil barons are the new oligarchs raking in billions of profits and multi-millions for salaries for oil company CEOs.
“Meanwhile hard-pressed motorists are being fleeced at the pumps.”
Source: The Sun