Supermarkets cut fuel prices in fresh pump price war
Asda has sparked a fuel price war which has now seen all of the big four supermarkets commit to cutting prices by up to 2 pence per litre.
Announced this morning (22 September), the Asda decision will see it cut its national fuel price cap by up to 2ppl on unleaded and 1ppl on diesel from tomorrow, following the recent sharp increases caused by hurricane Harvey & Irma.
Sainsbury’s, Morrisons and Tesco were quick to follow suit.
RAC fuel spokesman Simon Williams greeted the news, saying: “Motorists are now paying nearly 120p a litre for unleaded – the highest since March – while the average price at the big four supermarkets is 117p. This latest cut from the supermarkets should force forecourt reductions across the country, hopefully bringing prices down by 2p a litre everywhere.
“Strangely, this has all come at time when the oil price has increased by around $7 a barrel since mid-August, but it is the strengthening of the pound to $1.35 that has made the big difference as fuel like oil is traded in dollars.”For more of the latest industry news, click here.