Supermarkets’ price war sees petrol prices cut

MORRISONS and Sainsbury’s have joined Tesco and Asda in slashing the price of petrol and diesel by 2p per litre across the country.

The supermarkets are now locked in a forecourt price war with each one matching the other’s price cuts in less than 24 hours.

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.

Companies were left with a choice – increase their profits or pass the saving on to consumers.

The RAC has called for other petrol stations to follow the price cut.

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.”

Peter Cattell, fuel director for Tesco, said: “We know many of our customers will be driving to spend time with their mothers this Sunday.

“So to provide a little extra help for them we are cutting the cost of petrol and diesel by two pence per litre at all of our 500 filling stations.”

Asda’s head of petrol trading Dave Tyrer said: “Asda continues to lower fuel prices for the millions of drivers across the UK and for the second week running we’ve dropped the cost of fuel by up to 2ppl, meaning drivers have seen up to a 4ppl drop over the last two weeks.”

Sainsbury’s is cutting prices across its 306 forecourts this weekend.

Morrisons has also cut prices at its 333 filling stations – 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.”