You are here: Home - Household Bills - News -

Millions of drivers to benefit as supermarkets slash petrol prices

0
Written by: Paloma Kubiak
06/11/2018
There's good news for drivers as four supermarkets announce petrol price cuts following a fall in the wholesale cost of oil.

Asda has sparked a petrol price war by slashing the price of unleaded by up to 2p per litre, taking effect from today.

As it runs a national price cap, drivers across the country will pay no more than 122.7p per litre on unleaded at its 319 petrol stations.

This is the second cut announced by the supermarket, having cut 3p per litre on unleaded a fortnight ago, meaning drivers filling up at Asda will save 5p per litre in total.

Given the 4p fall in the wholesale price of a litre of petrol throughout October, other supermarkets are also passing on the reduction.

Morrisons was quick to follow Asda’s lead, slashing unleaded by up to 2p per litre. However, the reduction takes effect tomorrow at its 336 filling stations across the UK.

Sainsbury’s has also got in on the act by cutting unleaded by up to 2p per litre, but this change will take effect from Thursday. Drivers filling up at any of its 312 petrol stations will also be able to collect one Nectar point on every litre of fuel bought.

Tesco was last to follow suit, announcing an up to 2p per litre cut on unleaded at its 500 forecourts, taking effect from this evening.

RAC fuel spokesman, Simon Williams, said this is excellent news for motorists, but sadly it’s long overdue.

“Retailers have not played fair with drivers in a falling wholesale market. 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.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Seven ways to get help with energy bills this winter

We knew today’s announcement was going to be painful, but it’s still a shock to the system. When this kick...

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week