Supermarket giants Asda, Morrisons and Sainsburys last night announced plans to cut the cost of fuel, bringing some much-needed relief to motorists across the country.
In the first signs of a summer price war, both Asda and Morrisons announced that they would cut the cost of unleaded and diesel fuel by 3p a litre and 4p a litre respectively.
Sainsbury’s said it would look to match its rivals by cutting the cost of petrol by 5p a litre from Thursday for customers who spent £50 or more in stores .
But the UK’s largest supermarket chain Tesco said it would not be entering the petrol price war at this stage.
“We frequently review our prices across the country to remain competitive and we’re confident customers are being given the best possible value at our pumps as well as in-store,” a spokesman said.
Asda and Morrisons said they were responding to the recent drop in the price of oil, which fell from a peak of $147 to $130 in recent weeks.
Asda said all 170 of its petrol forecourts across the country would sell unleaded petrol for 113.9p a litre and diesel for 128.9p a litre starting today.
The company’s trading director David Miles 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 cut, which came into effect at 6pm on Monday, would “ensure customers reap the benefit by passing on the saving quickly, for cheaper prices at the pump”.
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