Petrol price war: Nine-month low after biggest single cut for five years

26 Sep 2013
Mirror UK
Asda’s nine-month low of 128.7p a litre makes it the cheapest petrol in Britain after Sainsbury’s had ramped up the stakes

An all-out supermarket pump war today saw petrol prices slashed by 6p a litre in the biggest single cut for five years.

Fuelled by Sainsbury’s, prices tumbled as rival chain Asda joined the battle with its third drop in as many weeks.

Tesco waded in with 5p off for shoppers spending £50 or more on groceries in its stores while Morrisons said it would remain “competitive”.

The forecourt ding-dong is great news for hard-up drivers, coming ahead of the weekend and saving an average of £3 on filling up a family hatchback.

Sainsbury’s ramped up the stakes with its dramatic 6p cut, sending the cost of unleaded plunging from 135.9 a litre to 129.9p.

The chain’s steepest petrol price cut since 2008 also brought diesel prices down by 4p a litre from 140.9p to 136.9p as it sought to woo motorists in a no-strings deal.

But less than an hour later, Asda lopped 3p off unleaded, taking it to a nine-month low of 128.7p a litre while diesel fell by 2p a litre to 135.7p, making it the cheapest petrol forecourt in Britain.

Asda has been at the forefront of the price cuts, going it alone just over two weeks ago with a 2p cut and it has dropped its prices by a total of 7p on leaded and 6p on diesel.

Tesco cut its prices by up to 2p three days ago but said it was offering a 5p off voucher on a £50 spend until Sunday.

Motoring groups which have been calling for a 6p-a-litre cut following a 2.4% drop in the cost of oil said it was “about time too”.

The AA said: “Sainsbury’s price cut should turn what has been, up to now, a phoney fuel price war into one that means something to hard-pressed drivers, their families and businesses.”

And RAC spokesman Pete Williams added: “It’s taken time, but it’s good news.

“This reflects the level of price reduction we hoped for and we are pleased another major fuel retailer is passing on the wholesale price drop to motorists. Let’s hope more fuel retailers follow suit.”

Andy Peake, Asda’s petrol trading director said: “Families across Britain are crying out for help when it comes to managing their budgets and we know every fuel reduction makes a real difference.

“Our prices are the lowest they have been all year and our national price cap on fuel benefits everyone across the country, meaning that no one filling up at Asda is forced to pay a premium for their fuel because of where they live.”

Richard Crampton, Sainsbury’s head of fuel, said: “We want our customers to benefit from the recent drop in the wholesale price of fuel.

“Fuel is a big part of the weekly budget for many households so we hope this cut will be welcomed by drivers across Britain.”