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Supermarkets cut fuel prices

A petrol station pump29/10/13

By Paul McGurk

Asda, Morrisons, Sainsbury's and Tesco will be cutting petrol and diesel prices from Wednesday. 

Asda started the price battle by saying that it will cost no more than 126.7p per litre for petrol at its pumps, while those looking for diesel will pay 133.7p.

From Wednesday, Morrisons will also reduce the price of diesel and unleaded petrol by up to 2p a litre at most of its sites. 

Supermarket fuel price cuts

Sainsbury's said that it will cut up to 3p per litre off petrol and diesel at all its forecourts, while fellow Tesco says drivers filling up at its forecourts can expect a reduction of up to 2p per litre.

According to Pete Williams, head of external affairs at motoring organisation the RAC, drivers should be pleased that fuel retailers have acted to lower prices at the pumps after wholesale costs fell.

He said: "The wholesale price of petrol is now at a year-low of around one pound per litre.

"Whereas the diesel price is unfortunately still several pence a litre away from its low point in early May (104.87p)."

Price cuts a 'bold move'

Meanwhile, Paul Watters, head of public affairs at motoring organisation the AA, said that Asda's opening price cut gambit was a "bold move". 

He added that although it was a reflection of the drop in the wholesale price of petrol in the previous week, the disruption of Libyan oil production continues to make the marketplace "volatile and unpredictable".

So while the future remains uncertain, there is some small consolation for today's hard-pressed consumers at petrol pumps up and down the country.

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