Another week, another round of supermarket fuel price cuts with Asda, Sainsbury’s, Morrisons and Tesco all cutting the price of unleaded petrol by 2p a litre at their petrol stations.
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Morrison’s in the meantime has confirmed that its newest reductions signifies that unleaded gasoline is 15p a litre cheaper than throughout final yr’s August financial institution vacation, making it £7.50 affordable to refill a household automotive.
Andy Peake, Asda’s senior director for petrol, commented: “We’re bringing some good news to unleaded motorists following a series of diesel price cuts”.
But the AA notes: “The difference this time is the fuel retailers” decision, principally Asda and Morrisons, to end the shame of the 2015 Great British Diesel Price Rip-Off.
The cost of filling up an average family petrol vehicle is now around £8 less than it was last summer, and around £12 less for a diesel auto.
The government is not planning to raise excise duty on petrol and diesel to mop up gains accruing from oil prices that slumped to six-and- half year low, unless oil falls to $30 (per barrel) level.
After a short-lived respite in early trading today Sainsbury’s share price headed south. By 13:27 BST, the retailer’s stock had declined 1.09 percent to trade at 243.13p.
‘Diesel has been on a steady downward path since the start of May, driven by increased capacity from Asia, but the same can not be said for petrol.
Because of this the retailer has reduce unleaded costs by 5p per litre prior to now month, and lowered diesel costs by 9p.
The wholesale price of petrol has not fallen as fast as diesel.
‘If the conditions stay right, we could see some even lower prices in a few weeks as people return to work after the summer and the school run begins again’.
‘However it is worth remembering that the biggest influence on what motorists pay at the forecourts is not the oil price but taxation’.
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“While we think there is potential for more movement on prices in the coming weeks, it is positive that all motorists are now benefiting from the plummeting price of oil”.
