Motorists across the UK should feel slightly happier this morning when refuelling their car as petrol and diesel prices at long last edge back from the £1.50 a litre barrier.
At a time when car insurance and fuel prices have threatened to drive some motorists off the road completely, supermarket chains across the country have started a fuel price war that should result in lower costs for the great majority of drivers over the next few days. The drop in prices at the forecourt has been triggered by two main factors, first of all the price of a barrel of crude oil has dropped significantly over the last ten days and secondly the threat of a tanker driver strike has now gone completely.
Not all supermarkets however are willing to pass on the cuts without wrapping it up in a “deal”. Tesco are offering a 10p per litre reduction if you buy 18 toilet rolls! Meanwhile, Morrisons are giving customers a massive 12p per litre voucher if they spend £60 in one of their supermarkets. Richard Crampton, head of fuel at Sainsbury’s, who have introduced a maximum petrol price of £1.29.9 a litre without any obligations, said: “We know that fuel continues to be a big part of many household budgets and we are committed to helping our customers cut down on cost whenever we can. Wholesale fuel prices have dropped across Europe and we are delighted to pass these savings onto our customers.”
Motoring organisations broadly welcomed the price cuts but said they should not be linked with buying other products, while a spokesman for the AA pointed out that most of mainland Europe has seen price drops double the size of those now being offered here.