As Theresa May catches the bug with electricity and gas prices capped, here are my suggestions for a few more
Who knew Theresa May was so anti free markets, happy to meddle where competition fails consumers? Now she’s caught the bug with the electricity and gas price cap, here’s my selection of the other markets she should be meddling in. We’d be keen to hear yours, too.
Petrol
The average UK price is now 116p for unleaded, according to Petrolprices.com. The cheapest supermarket forecourts are charging just 110.7p. But if you’re on the M1 and pull into Newport Pagnell services, the granddaddy of Britain’s motorway service stations (it opened in 1959), you’ll be charged 138p – making it almost certainly the most expensive petrol in the country. That means you pay an extra £13 if you fill up there compared to a nearby Asda or Morrisons forecourt. Campaigners against rip-off petrol prices managed to get service stations to publicise their prices on motorway boards situated before slip roads, but this seems to have had no noticeable impact on pricing. It’s a clear case of market failure, so ripe for a price cap.
May 13, 2017 at 11:56AM
from Patrick Collinson
No comments:
Post a Comment