Supermarkets put petrol back below £1 a litreAsda and Morrisons slash cost of diesel, too
15 October 2008
Two of Britain’s biggest supermarkets – Morrisons and Asda – have cut the price of unleaded petrol to less than £1 a litre.
Both chains said they will start selling unleaded petrol at 99.9p a litre following recent falls in the price of oil.
The news comes as consumers are hit with news of an inflation rate of 5.2% – the highest in 16 years.
Falling oil prices
Unleaded petrol was being sold for a record 119.7p a litre in July, when a barrel of crude oil cost $143. But a slowdown in world demand has seen that figure fall to around $82 a barrel.
Asda trading director Darren Blackhurst said: 'Drivers should not be paying more than 99.9p a litre for unleaded fuel based on current oil prices'.
Asda has also lowered the price of diesel across Great Britain and Northern Ireland to 110.9p a litre.
Lower fuel prices
Marc Bolland, chief executive of Morrisons, told Sky News: ‘The price of crude has fallen in recent days and, yet again, we're passing this on to our customers.
‘We’re taking the lead again in cutting fuel prices and taking unleaded back below a pound a litre.’
The latest price cuts mean the cost of unleaded has dropped below £1 a litre for the first time since December 2007.
Have a look at the Which? tips on greener driving.
All the latest car news
For daily consumer news, subscribe to the here. If you have an older web browser you may need to copy and paste this link into your newsreader: http://www.which.co.uk/feeds/reviews/news.xml . Find out more about RSS in the Which? guide to news feeds.
To be kept in the loop on all the manufacturer offers and great car deals we spot each week, sign up for our Which? Car email - delivered to your inbox every Friday, and including all our latest news and first drive reviews, too.