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Fuel Prices Continue to Fall in the UK

Finally some good news for UK motorists!

Yesterday, supermarket giant ASDA announced that they are cutting the price of both their petrol and diesel by 2p a litre. Soon after, supermarkets Morrisons and Tesco announced they were doing exactly the same thing. Asda announced that their petrol would be going down to 120.7p a litre and its diesel dropping to just 124.7p a litre. This is compared to the highest price of petrol over the summer which reached 131.70p a litre, according to the AA.

Fuel prices are now the lowest in the UK since January 2011. Thanks to wholesale prices of oil falling, supermarkets have been able to cut prices and have become in a price war to offer the cheapest petrol. The cost of crude oil is currently $88 (£55) a barrel but is expected to fall even further to around $75 (£47) a barrel.

The news has come at an excellent time with winter fast approaching. The head of roads policy at the AA, Paul Watters, said: “’These latest price moves are a timely boost for UK families as they see fuel consumption go up with the start of winter driving and the heating being switched on at home.”

However, it’s important to note that fuel prices do dramatically vary across the country. Those who live in areas without access to ASDA or Tesco fuel pumps may not see as many savings on their petrol prices as those who do.