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Supermarkets slash fuel prices by up to 3p/litre

Date: 15 November 2016   |   Author: Daniel Puddicombe

Three major supermarkets have reduced the price of fuel by 3p per litre this morning.

The cuts - from Morrisons, Tesco and Asda - come as the wholesale cost of oil has fallen since the end of October and the pound has recently strengthened against the dollar.

Motoring body the RAC said retailers should have reduced prices two weeks ago "rather than making one bigger headline-grabbing cut" now.

A spokesman said the delay in reducing the cost will undermine motorists' trust in fuel retailers, as it could be construed they are taking advantage of drivers in the current climate of rising goods prices.

"A fall in the price of fuel due to a stronger pound is allowing us to pass further savings on to our customers. We will continue to make sure we are as competitive as we can be on price in every one of our petrol stations," said Roger Fogg, Morrisons services director.