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Petrol war sees pump prices fall to 110p a litre

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Written by: Paloma Kubiak
29/06/2017
Sainsbury’s sparked a petrol price war as it announced it would cut the price of diesel and unleaded by up to 2p a litre, prompting other supermarkets to follow suit.

The retailer will cut the price of fuel across all 309 forecourts across the UK from today to “put more back in the pockets of its customers on the roads”.

It added that Sainsbury’s customers will also be able to collect Nectar points on every fill-up: one point with every litre bought.

Morrisons quickly followed, announcing it would cut unleaded and diesel by up to 2p a litre across its 333 filling stations in the UK. As Morrisons prices fuel locally, it said it will make sure it has “the cheapest fuel prices in the area”.

Tesco also waded in, saying it would cut both unleaded and diesel by 2p a litre at all 500 of its filling stations. Peter Cattell, fuel director for Tesco, said: “This reduction will mean millions of customers save money by shopping at Tesco”.

Asda confirmed it would also be lowering fuel prices to “ensure customers continue to get the best price at the pumps”. It sets a national price cap, so the up-to-2p-a-litre cut means motorists won’t pay more than 110.7p per litre for petrol or diesel at any of its 307 petrol stations nationwide.

RAC fuel spokesman, Simon Williams, said: “This is great news for motorists. Supermarkets are proving they are prepared to react to falling wholesale prices by passing on the benefit to families just ahead of the busy summer holiday season.”

Williams added that the oil price, the biggest variable affecting UK fuel prices, is now at its lowest level in more than six months.

“This is due to increased oil output from the United States, which has been counteracting the production cut introduced some months ago by OPEC and other countries in a bid to try to boost the oil price. The pound has also gained against the dollar lately – meaning the outlook for lower priced fuel over the weeks ahead is positive.”

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