Tesco announces cuts to petrol prices

Tesco has become the latest supermarket to announce cuts to its petrol prices.

Following on from Asda’s confirmation at the end of October, the retailer has revealed it will slash two pence off every litre purchased by customers.

The chain, which sells petrol through a network of 490 forecourts across Britain, said the move will allow motorists to enjoy higher savings that could provide peace of mind in the current economic climate.

However, David Bizley – technical director of breakdown company RAC – said although the price cuts are a step in the right direction, they only solve part of the problem.

He added: “[RAC is] lobbying the government to reduce the amount of tax on petrol and diesel, as we believe this will help to stimulate the economy and generate more income for the Treasury.”

Mr Bizley explained the FairFuelUK campaign is calling on politicians to make it a requirement for fuel retailers to print duty on receipts to allow drivers to see how much of the price is tax.