Supermarkets At War Over Fuel Prices
Morrisons, Asda and Sainsbury’s have followed Tesco in cutting fuel by 2p per litre in a fresh supermarket petrol price war. Around 2p per litre has been shaved off the wholesale price of fuel in the last week due to the falling price of oil and a boost in the value of the pound against the dollar.
It has put pressure on the UK’s four biggest supermarkets to cut prices.
RAC fuel spokesman Simon Williams said: “Wholesale prices have come down by 2p a litre as a result of the cost of a barrel of oil reducing to the $50 mark for the last two weeks combined with a boost in the value of the pound against the dollar.”
“The last thing retailers need is for the public’s trust in their pricing policies to be undermined.
“We strongly urge other retailers – large and small – to follow suit and bring the price of petrol and diesel down around the country.”
Tesco’s 500 petrol stations will reduce prices this afternoon.
While Asda has also knocked 301 filling stations across the country from tomorrow, meaning customers will pay 112.7p per litre on unleaded petrol and 114.7p per litre on diesel.
Sainsbury’s is also cutting prices across its 306 forecourts from tomorrow.
Morrisons has also cut prices at its 333 filling stations today – the second cut in the last two weeks.
Roger Fogg, Morrisons services director, said: “Our cuts will ensure we continue to be the cheapest in every town across the country.”
Tesco last cut fuel prices less than two weeks ago after Asda sparked a pump price war.
Rivals Sainsbury’s and Morrisons also followed by pushing down the cost of fuel on their forecourts, less than 24-hours later.