Three major supermarkets have cut the price of fuel at their petrol stations as families all over the country head off on their half-term holidays.
Asda, Morrisons and Sainsbury’s have all reduced the price of their petrol and diesel by around two pence per litre in order to remain competitive with each other.
Asda was the first to announce the two pence reduction on both unleaded and diesel. Morrisons swiftly followed, pledging to drop its fuel prices by up to the same amount.
Sainsbury’s was the third supermarket to get in on the action, introducing a similar price cut at its fuel stations.
The average motorist can expect to save about £1.10 on a full tank of petrol or diesel, marking a pleasant shift in the price of fuel, which recently reached a three-year high.
At present, the average cost of one litre of unleaded is 122.24p, while the same amount of diesel stands at 125.04p.
The news follows a statement released last week, in which RAC fuel spokesman Simon Williams said: “We urge the supermarkets to do the right thing and pass on savings in the wholesale cost of fuel they are currently benefitting from to motorists at the pumps just before half-term. The sharp drop in the price of oil gives them a perfect opportunity to reduce their pump prices by three pence.
“There is often talk of sudden supermarket price wars over fuel, but in reality we all know they constantly use petrol and diesel prices to drive customers into their stores. Saying that, the fall in the wholesale fuel price gives them a great opportunity to turn up the heat in what has become something of a ‘cold pump price war’ in recent weeks. The question is which supermarket will make the first move.
“We know there is plenty of scope for the supermarkets to cut as we are aware of several money-off promotions tied to certain levels of spend in store as well as some big regional anomalies in price. In Taunton in Somerset, for example, supermarkets are selling petrol for around 112p a litre which is 10p lower than the UK average and seven pence lower than the supermarket average.”