Fuel prices to drop by up to 2p per litre

Fuel prices to drop by up to 2p per litre

Fuel price cuts are expected to take place over the weekend, with up to 2p off a litre of petrol and diesel.

Wholesale prices have fallen, and motoring organisations believe that this justifies lower prices at the pump.

Tesco and Morrisons will be dropping their prices by 2p a litre on Friday, and Asda and Sainsbury’s have said they plan to reduce prices by up to 2p a litre on Saturday.
However, drivers are being warned about regional price differences.

The average UK price for a litre of unleaded petrol was 118.83p on Thursday, and 120.88p for a litre of diesel, according to the latest figures from Experian Catalist. Just ten days earlier, the price was marginally higher, with petrol at 120p a litre, and diesel costing 122.06p. At the beginning of March, oil and wholesale prices dropped dramatically and motoring argue that this should have led to prices being lowered at the point of sale. The RAC said that motorists had grounds for complaints over a lack of price cuts until this point. Asda said it lowered its prices twice in the last two weeks, while also stating that a national price cap was in place to ensure motorists were all treated fairly. Morrisons said it had also made a second cut in two weeks.

Luke Bosdet, of the AA, said that there was a feeling that ‘fuel price wars’ between retailers did not equally benefit all drivers. Mr Bosdet claimed prices fell considerably more in areas with greater supermarket competition. In other areas with less competition, the same cuts were not as likely to be seen. “We would urge motorists to look around to find a better price. There are petrol price apps that can help,” he said.