Author: Oli Rushby Posted: 11 Dec 2015
Petrol prices have fallen below the £1 per litre mark for the first time in six years today.
With the price of crude oil close to a seven-year low, a number of big supermarkets have opted to pass on some of their savings to consumers by lowering the price of fuel.
Morrisons was the first to act, dropping prices below £1 for the first time since 2009 across the country.
“Today for the first time in six years, we are moving unleaded prices down to below £1 a litre,” announced Morrisons’ petrol director, Bryan Burger. “This is a moment where motorists will feel some relief after being clobbered by tax and price rises for the last decade.”
Asda stores will also be selling unleaded for less than £1 per litre (99.7p) in what they’re calling a ‘promotional weekend’ but it’s expected such a move could become more long term as other retailers drop their prices in the next few weeks.
The price of fuel at Tesco and Sainsbury’s fell by two pence this week but is yet to fall below the £1/litre mark.
Fuel duty remains frozen in the UK for the fifth year in the row but it’s feared there will be an increase in the Chancellor’s next budget.
The average price of fuel in the UK currently sits at £1.03 per litre. Shame about the weather…