4 ms·

More unnecessary meddling, this causes price convergence so anyone living close to a typically lower cost source of fuel is going to have an almost imperceptibl

More unnecessary meddling, this causes price convergence so anyone living close to a typically lower cost source of fuel is going to have an almost imperceptible increase in relative cost. They certainly love spending taxpayer money on nothing don't they.

graemep 9mo ago
Providing better price information makes a market work better.
- jpfromlondon 9mo ago
  In the above model prices converge on a mean, reducing the potential savings for those that price really matters (the poor are the ones most likely to check existing price discovery sites), thus it's regressive - the government are either seeing it as an opportunity to marginally increase tax rake, or more likely are oblivious to the externality of the poor bearing the burden.
  - graemep 9mo ago
    Which model? Tested how? Are the poor the most likely to check existing sites? This is not a new sites. Its making data more available so sites and apps will have more accurate data. This is most likely to benefit those who are willing to trade convenience for lower costs.
  - notahacker 9mo ago
    That's... not how markets work. The cheap petrol stations are very much aware that they're cheaper than their neighbours already. The more expensive ones may feel some downward pressure, but mostly won't. People who are price sensitive can discover cheaper alternatives more easily; others still won't bother
bonsai_spool 9mo ago
> More unnecessary meddling This is a funny take, because we ostensibly assume 'perfect information' when we extol the virtues of capitalism. It would appear the government is supporting capitalism with this particular initiative...
- jpfromlondon 9mo ago
  We don't assume perfect information, or rather - it exists already in an unsanctioned form for those that seek it (usually those to whom price is sensitive). Until this we assume marginality holds true and price dispersion has a benefit in society that we unwittingly enable.
advisedwang 9mo ago
Conversely, some expensive petrol stations won't be able to get away with staying so expensive.
123pie123 9mo ago
> this causes price convergence aka competition
- jpfromlondon 9mo ago
  coopertition
  - 123pie123 9mo ago
    I see where you're going, but this happen now where I live. All prices are with in 2p of each other in a 2 mile radius. but travel around 5miles and it's typically 5-9p cheaper no way can this make it worse for me - hopefully people will travel to punish the garages.

graemep 9mo ago

Providing better price information makes a market work better.

jpfromlondon 9mo ago
In the above model prices converge on a mean, reducing the potential savings for those that price really matters (the poor are the ones most likely to check existing price discovery sites), thus it's regressive - the government are either seeing it as an opportunity to marginally increase tax rake, or more likely are oblivious to the externality of the poor bearing the burden.
- graemep 9mo ago
  Which model? Tested how? Are the poor the most likely to check existing sites? This is not a new sites. Its making data more available so sites and apps will have more accurate data. This is most likely to benefit those who are willing to trade convenience for lower costs.
- notahacker 9mo ago
  That's... not how markets work. The cheap petrol stations are very much aware that they're cheaper than their neighbours already. The more expensive ones may feel some downward pressure, but mostly won't. People who are price sensitive can discover cheaper alternatives more easily; others still won't bother

bonsai_spool 9mo ago

> More unnecessary meddling This is a funny take, because we ostensibly assume 'perfect information' when we extol the virtues of capitalism. It would appear the government is supporting capitalism with this particular initiative...

jpfromlondon 9mo ago
We don't assume perfect information, or rather - it exists already in an unsanctioned form for those that seek it (usually those to whom price is sensitive). Until this we assume marginality holds true and price dispersion has a benefit in society that we unwittingly enable.

advisedwang 9mo ago

Conversely, some expensive petrol stations won't be able to get away with staying so expensive.

123pie123 9mo ago

> this causes price convergence aka competition

jpfromlondon 9mo ago
coopertition
- 123pie123 9mo ago
  I see where you're going, but this happen now where I live. All prices are with in 2p of each other in a 2 mile radius. but travel around 5miles and it's typically 5-9p cheaper no way can this make it worse for me - hopefully people will travel to punish the garages.