The price of diesel in the UK has dropped below the £1 a litre mark – a dip that will be welcome news to the 11 million diesel car drivers in Britain.
With the price of petrol having been at the sub-£1 a litre point since before Christmas, many owners of diesel cars were unable to see a reason as to why diesel had not dropped either.
However, supermarket chain Morrisons, along with competitors Asda and Tesco has announced that it has now cut the price of its diesel to 99.7p a litre.
The price of Brent crude oil has dropped to below $40 a barrel, which has prompted many drivers to question as to why the wholesale savings of a lower crude oil cost had not yet been passed on to driver.
RAC Fuel Watch spokesman Pete Williams said: “The wholesale price of diesel has been around 2p cheaper than the wholesale price of petrol since a couple of weeks before Christmas so we should have seen these cuts earlier and that is what the RAC has been calling for.
“It will also benefit UK business which runs on diesel and should be a further stimulus to the economy.
“Saudi Arabia has also reiterated its intention not to cut oil production so the world will continue to be awash with oil as demand is also down, suggesting that sustained lower petrol and diesel prices are going to be around for much of 2016.”
Bryan Burger, petrol retailer director at Morrisons, told The Guardian: “If our oil prices continue to fall then we remain ready to cut the price of diesel and unleaded.”
After completing his university studies in English and Creative Writing in Cardiff, Jack is now a full time motoring writer at Blackball Media. His love of cars stems from his childhood years when he began to live and breathe all-things automotive.