We’ve been predicting the arrival of sub-£1 per litre petrol in the UK for several weeks and it is finally here. Several garages in the West Midlands slashed petrol prices on their forecourts yesterday by 6p to a mere 99.7p per litre, while diesel weighs in at 109.7p per litre.
The independent Harvest Energy petrol station chain has introduced the first sub-£1 per litre petrol for five years as the owner got tired of supermarkets ‘cheating’ motorists with inflated prices, reports the Daily Mail. As the wholesale price of oil continues to drop, many other fuel retailers are expected to follow suit, which should bring average prices down to a level not seen since May 2009. The current average price for a litre of petrol stands at 109.58 while the same figure for diesel is 116.71p, according to petrolprices.com.
The supermarkets continue to make a fortune without passing the price cuts to their customers. It is a scandal. They are cheating people.
Dr Velautham Sarveswaran, owner of the three Harvest petrol stations located in Birmingham, Walsall and Redditch told the Daily Mail that he had become tired of high supermarket fuel prices and felt that he had to lower his prices: “I will still be making money by cutting prices and my customers wanted to see me break the £1 barrier.”
Sarveswaran added that customers travelled to his forecourts from as far as 20 miles away for the cheap fuel and he questioned supermarket pricing policies: “The supermarkets continue to make a fortune without passing the price cuts to their customers. It is a scandal. They are cheating people.”
Following high customer numbers at Sarveswaran’s garages, the retailer ran out of fuel three times over the festive period.
Picture: Adrin Shamsudin
January 12, 2015