Four supermarkets cut the price of petrol

Lloyd Doyle
November 8, 2018

Morrisons said its 2ppl reduction on unleaded petrol would take effect tomorrow, and Sainsbury's revealed it would cut the price of unleaded petrol by up to 2ppl from Thursday November 8.

"Our new national price cap of 122.7p per litre will be welcomed by the millions of drivers across the UK", Asda's senior fuel buyer, Dave Tyrer, said. Sainsbury's customers will have to wait until 9 November for the price cuts to filter to forecourts.

Only the price of unleaded petrol is being reduced as part of the price cuts - supermarkets haven't announced plans to lower the cost of diesel, however the RAC says falling oil prices should see reductions in diesel prices too. "We hope that lowering fuel prices will help customers' budgets, and their cars, go further".

RAC Fuel Watch data shows there was a 3.5p per litre fall in wholesale prices yet petrol started and finished the month at 130.6p per litre. Morrisons and Sainsbury's followed suit shortly after.

The supermarket said its new national fuel cap means drivers will pay no more than 122.7p per litre at its 319 filling stations. But this is sadly long overdue given the fact the wholesale price of unleaded has been low enough for a significant reduction at the pumps since mid-October.

Morrisons has followed Asda's lead and slashed prices by 2p per litre of unleaded at 336 petrol stations nationwide.

This means the average cost of filling a 55-litre family vehicle with petrol has stayed at £71.83 when it would have been almost £2 cheaper if retailers had reflected the lower wholesale prices on forecourts, according to the research. Retailers have not played fair with drivers in a falling wholesale market.

He added: "We badly need a case of "follow the leader" now and for big retailers to actually have the often-talked-about "pump price war" as that would rightly benefit consumers".

Other reports by Iphone Fresh

Discuss This Article