Supermarkets Announce Fuel Price Cuts

Thu, 20 May 2010

 
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Supermarket giants Tesco, Asda and Sainsbury’s have all reduced the cost of fuel at their store forecourts.

The latest fuel price war was triggered by Asda who yesterday announced that the price of petrol and diesel would be cut by 2p per litre and 1p per litre respectively from today (May 20), taking the cost of petrol to 115.9p a litre and diesel to 118.9p a litre.

Tesco responded by announcing similar fuel price cuts of up to 2p per litre, and also highlighted an additional promotion whereby customers get a further 5p off per litre when they spend £50 or more in store.

Now Sainsburys has followed suit, saying the price of petrol and diesel at its forecourts will be cut by 2p per litre over the course of today.

Speaking yesterday, Asda commercial director David Miles said: "Yet again, Asda is leading UK fuel prices down. Motorists will be relieved commodity prices are coming down and as always we are the first to reflect falling costs in our prices at the pump."

A spokesman for Tesco said: "We have recently seen an easing of the pressure on world oil prices and, as always, we want to pass these lower prices to customers."

The news is a welcome relief for millions of drivers who just less week were paying an average of 121.61p for a litre of petrol – the highest average price on record.