The Uk’s supermarket giants are once again introducing some healthy competition at the petrol pumps, as the price of crude oil continues to plummet.
Announcing the third cut in three weeks, Morrisons were once again the frontrunners, knocking a further 2p per litre off unleaded fuel. Their price for unleaded is 109.9p per litre and diesel 121.2p per litre.
Asda have said that they will match the prices set by their rival and the cut will be available at forecourts today.
Tesco are expected to at least follow suit, but could offer further incentives as they vow not to be beaten on price.
Petrol prices have fallen by 10p per litre during the last month, with oil prices having slumped due to a drop in demand caused by slowing economies world wide.
While I am not always the greatest fan of the UK supermarket giants, I have to applaud them for once again setting the precedent on fuel pricing. I wonder what the situation would be if we relied on the major petrol stations to pass on the price cuts.
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