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Supermarket sweep on fuel prices
Date: 15 October 2014 | Author:
Sainsbury's, Tesco and Asda have begun a fuel-price war that will drag the price per litre of petrol and diesels back to where it was in late 2010.
Tesco and Sainsbury's struck first, slashing the price of petrol and diesel, while Asda followed shortly after, cutting unleaded by 1p per litre before shaving 2p per litre off the cost of diesel.
The falls follow on from March when The AA declared petrol prices had fallen to their lowest in three years after chancellor George Osborne froze fuel duty.
RAC fuel spokesman Simon Williams said the latest cuts will "take us to a new low, the likes of which we haven't seen since late 2010/early 2011 when the price of petrol jumped by 10p litre in just a few months".
Despite the new price war, not everyone is welcoming the competition between the major supermarkets, with Brian Madderson from the Independent Petrol retailers Association (PRA) warning the announcement would further endanger local, rural petrol stations who would struggle to compete.
According to the PRA almost 900 independent petrol stations have closed between 2008 and 2013, with more than a third of those in remote rural areas.
