The four major supermarkets have provided some New Year cheer for motorists by cutting their fuel prices. Asda, Morrisons, Sainsb ury’s and Tesco are all knocking 2p a litre off their petrol and diesel, with the reductions taking effect from tomorrow. The Asda cuts will mean its customers will pay no more than 107.7p a litre for petrol, with diesel at 114.7p a litre.
Motorists have received an early Christmas present in the form of yet more fuel cuts by supermarkets. Asda, Tesco, Morrisons and Sainsbury’s all announced they were reducing the price of their petrol by 2p a litre and also knocking 1p a litre off their diesel. The Tesco cut takes effect from lunchtime today, while the other three big supermarkets will introduce the lower prices from tomorrow.
Leading supermarkets have cut the cost of their petrol again. Asda, which reduced its petrol by 2p a litre last Saturday, knocked another 1p a litre off its petrol today. This means its petrol will cost no more than 114.7p a litre, with diesel remaining unchanged at 119.7p a litre Morrisons, which took 2p a litre off its petrol and diesel yesterday, said it was reducing its petrol by a further 1p a litre.
Plunging prices at the pumps have failed to arrest the slide in petrol purchasing. Petrol sales in October 2014 fell when compared with October 2013 despite pump prices falling more than 8p a litre over the 12-month period, Government figures highlighted today by the AA showed. The statistics also showed that petrol sales for the first 10 months of this year have fallen 20% compared with the same period five years ago.
Supermarkets have reacted to plunging world oil prices by cutting the cost of fuel to motorists. First, Asda announced it was knocking 2p a litre off its petrol and diesel from tomorrow. Then Tesco said it was cutting its petrol and diesel by 2p a litre.
Petrol firms and supermarkets will be pressed by the Government to pass on the benefit of falling oil prices to customers filling up at the pumps. Treasury Chief Secretary Danny Alexander will demand an assurance from fuel companies and distributors that they are doing all they can to pass on the price cuts to motorists. Mr Alexander will use a speech in Aberdeen to warn people would "rightly be angry" if they felt prices were not coming down as much as they should.