Petrol prices to be cut by the Big Four supermarkets

Irving Hamilton
November 8, 2018

Morrisons will introduce its own 2p price reduction on November 7, with Sainsbury's following suit on November 8.

"With 4p knocked off the wholesale price of a litre of petrol through October, the AA has watched with dismay as average pump prices have trickled down by barely a penny", says Luke Bosdet, the AA's fuel price spokesman.

The supermarket's senior fuel buyer, Dave Tyrer, said: 'Our new national price cap of 122.7p per litre will be welcomed by the millions of drivers across the UK.

Rivals Morrisons and Sainsbury's announced soon after that they too would shave 2p from the price of unleaded petrol from tomorrow and Thursday, respectively. "We hope that lowering fuel prices will help customers' budgets, and their cars, go further".

The retailers new national fuel price cap means that drivers across the country will pay no more than 122.7ppl on unleaded.

RAC fuel spokesperson Simon Williams said: "Every motorist driving a petrol vehicle should feel aggrieved that the price of a litre stayed the same in October when it should have fallen by more than 3p".

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The lower wholesale price of petrol has been brought about by an 11% fall in the price of oil during October.

"We badly need a case of "follow the leader" now and for big retailers to actually have the often-talked-about "pump price war" as that would rightly benefit consumers".

Morrisons has followed Asda's lead and slashed prices by 2p per litre of unleaded at 336 petrol stations nationwide. "This is vital to the United Kingdom average price as supermarkets are so influential in fuel retailing they need to drop their prices for others to follow around the country".

Supermarkets have slashed the cost of petrol and isle in the United Kingdom in latest fuel price crash.

Owners of diesel vehicles have been hit by fuel price rises for 18 consecutive weeks, reaching an average of £1.37 per litre.

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