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Supermarkets drop Fuel Prices

Fuel price drop welcome news for hard pressed motorists

Four leading supermarkets have announced they are cutting fuel prices on their forecourts. Sainsbury’s, Tesco and Asda are introducing a petrol price cut of up to 2p per litre and Morrison’s are cutting up to 3p a litre off petrol and 1p off diesel. Mark Todd, petrol director for Morrison’s, said "further falls in wholesale prices mean we can pass savings on to customers and continue to offer some of the lowest prices on the market."

This is welcome news for hard pressed motorists, Sainsbury's head of fuel Richard Crampton said "we know that fuel is a big part of many customers' weekly budget so we're keen to do anything we can to help."

These latest reductions follow supermarket cuts last week to the price of diesel and a general lowering of the wholesale price of fuel. Motoring groups welcomed the news as likely to take pressure off squeezed household budgets, but warned that a lack of transparency means that drivers filling up face significant regional price variations. It seems that Asda are aiming to please whatever your location is, Andy Peake, Asda's petrol trading director, said "when we do drop prices, we drop them everywhere, setting a maximum national price cap for our customer, which means they all benefit from our low prices, regardless of where they live."

Edmund King, president of the AA, said "we predicted these cuts last week, with oil down to its lowest level in a month and the pound gaining on the dollar after its recent fall. This is perhaps another glimmer of sunlight for drivers after a hard, wet, pot-holed and expensive winter of driving." The RAC's technical director, David Bizley, said "certainly, these price cuts will be widely welcomed by UK motorists and it is encouraging to see that the drop in the wholesale price of fuel is being passed on. Nonetheless, it is easy to underestimate the impact that the UK's high fuel prices are having on us as individuals. Our research has shown that almost half of motorists would avoid promotion or a new job that involves more driving, and a quarter believe prices negatively affect their working life.”

Motoring.co.uk comments the last few years have been very tough for the consumer and especially the motorist and it is all about survival, we have seen many motorists downgrading from petrol guzzling cars to something more economical with lower insurance and lower tax and this reduction in fuel will be very much welcomed.

 

Geraldine Ashton Green

Geraldine Ashton Green: 18th Apr 2013 15:07:00

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