PETROL retailers will be forced to disclose their prices and lock in the decision for 24 hours under a new Fuelwatch scheme announced today by Kevin Rudd.

The unprecedented intervention was described as "pro-market" today as the government predicted the new scheme would help families find savings.

The Prime Minister admitted today the scheme was not "foolproof" but would ensure motorists could buy petrol at the cheapest possible prices.

Under the scheme, retailers will be forced to notify the nation's consumer watchdog about their prices for the following day at 2pm. ... Read full article