JEREMY Hunt vowed to end customer rip-offs last night — starting with petrol prices.
The Chancellor gave hope to struggling families that a PumpWatch system would curb fuel bills.
The competition watchdog is expected to name and shame petrol retailers over profit margins in a review on Monday.
The drive is part of an action plan agreed by Mr Hunt and regulators to ease the public’s pain over high inflation.
Supermarkets, banks, broadband providers and mobile phone networks will also come under pressure to help.
The Bank of England showed companies were paying less for goods — but prices paid by shoppers were up.
Regulators from energy, water, financial services and telecoms attended crisis talks in Downing Street.
The financial regulator will report by the end of next month.
Banks and building societies will have to explain why they are not passing on rates rises.
Broadband and mobile phone suppliers will have to bring in discount deals.
Mr Hunt said: “We’ve secured agreement with regulators to act urgently where consumers need most support.”
FairFuelUK’s Howard Cox said: “Drivers have no idea what they’ll pay.
“PumpWatch will make a big difference.”
PENSIONS LOCK VOW
THE Tories will keep the triple lock on pensions in their next election manifesto.
Welfare Secretary Mel Stride said it would “almost certainly” remain — so pensions will rise with the highest of earnings, inflation or 2.5 per cent.
Current inflation forecasts mean they will go up by £742 — reaching £11,342 a year.