Petrol Prices Cut By Up To 2p A Litre

Tue 6th Nov 2018

The UK’s major supermarkets have given purse-strings a pre-Christmas boost by cutting the cost of petrol by up to 2p a litre.

Asda, Morrisons and Sainsbury’s have finally relented after being accused of campaigners of failing to pass on the savings to customers, despite wholesale prices of fuel being at its lowest for some time.

The supermarkets offered minimal reductions last month, despite the wholesale price dropping by 4p a litre, and that was only for petrol pumps, diesel remains at its highest price since March 2014. With prices continually on the rise, the cost of filling a typical 55-litre family car has risen by approximately £6 in just six months.

Asda’s senior fuel buyer, Dave Tyrer said: “Our new national price cap of 122.7p a litre will be welcomed by the millions of drivers across the UK.

“Further decreases in the wholesale market mean we are able to reduce our prices again, seeing our unleaded price dropped by up to 5p a litre in just under two weeks.”

The RAC’s fuel spokesman, Simon Williams echoed his organisation’s repeated calls for the price to drop and expressed hope that the price of diesel would follow petrol in dropping over the coming weeks.

He said: “When wholesale prices drop retailers should pass savings on to all motorists by cutting their pump prices sooner. This is vital to the UK average price as supermarkets are so influential in fuel retailing they need to drop their prices for others to follow around the country.

“There is also better news on the horizon for diesel drivers. While diesel has risen substantially to an average of 136.79p, and unfortunately still appears to be going up, it should now begin to reduce as the wholesale price has started to fall.”