Supermarkets reduce petrol prices
July 22, 2008
Retailers Asda, Morrisons and Sainsbury's have all said they will lower the price of petrol, prompted by falling oil prices.
Asda said it would cut the price of unleaded petrol and diesel by 3p per litre while Morrisons said it would cut both prices by 4p per litre.
Sainsbury's said petrol would be 5p per litre cheaper, but only for customers who spend £50 or more.
While oil prices rose at the start of the month, they have fallen recently.
Asda said the price change would be effective from Tuesday, making unleaded petrol 113.9p per litre while diesel would cost 128.9p.
David Miles, Asda's trading director, said: "We are seeing a more stable reduction in oil prices, allowing us to pass on the savings to customers.
"We urge other retailers to follow our lead at a time when customers need as much help as possible."
Morrisons said its price change would come into effect on Monday "ensuring customers reap the benefit by passing on the saving quickly, for cheaper prices at the pump".
The AA said that wholesale gasoline prices had fallen 6% since mid-July and it said other fuel retailers should follow the supermarkets' lead and cut petrol prices.
"The AA expects fuel suppliers to pass on, not pocket, the saving for the good of UK families, hauliers and the economy," said AA president Edmund King.
"Should fuel suppliers and retailers appear to be dragging their feet we will seek to expose this."
Though oil prices have fallen in recent days the expectation is that they will remain high.
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