Supermarkets in secret talks to rise petrol prices at peak times with the help of artificial intelligence
SUPERMARKETS are in secret talks to introduce petrol price hikes at peak times, it was reported last night.
They want to bring in artificial intelligence that would allow them to charge more during bank holidays and the school run.
Major British supermarkets are said to be in late-stage talks with Denmark-based a2i Systems, which could install the setup within months.
The pricing shake-up would see petrol costs change several times a day.
The technology is already being used in Europe and across the US.
It uses a computer algorithm modelled on the human brain, which aims to predict how customers and competitors will behave, the Daily Telegraph reported.
As well as increasing peak-time prices it will also be able to drop them during quiet spells.
But experts warned that customers will be left feeling exploited.
Luke Bosdet, a fuel analyst at the AA, said: “This represents a huge change that would be most unfair on commuters and families visiting relatives during the holidays.
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“It will wind them up no end as they will become wise to the fact that retailers can exploit price movements.”
But Jason Lloyd, of Petrolprices.com, called the tech a “holy grail” that would revolutionise pump pricing.
He added: “The petrol industry in the UK hasn’t changed for about 40 years. It is very behind the times compared to other countries.”
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