The Daily Telegraph
Supermarkets cut price of fuel amid oil glut
A SUPERMARKET fuel price war is under way after several retailers announced cuts of two pence per litre amid a reduction in wholesale costs.
Tesco was first to confirm the move, followed by Asda, Sainsbury’s and Morrisons. It is the second such price reduction by supermarkets this month.
From today, motorists will pay no more than £1.13 per litre for petrol and £1.15 for diesel at Asda’s 301 filling stations.
Industry experts said the lower wholesale price of fuel was the result of a continuing glut of crude oil, partly caused by the United States increasing production from fracking.
UK motorists were being charged an average of £1.19 per litre for petrol and £1.22 for diesel earlier this week, according to Government figures.
Simon Williams, RAC fuel spokesman, called on all retailers to lower prices. “We were at the point where motorists should have been starting to feel aggrieved that pump prices were higher than they ought to be,” he said.