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Fuel Pump

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Asda, Morrisons, Sainsbury's and Tesco lead the way

All for one, and one four all: a simple case of following the leader.

It all started when Asda announced that they would be taking 2p a litre of the price of petrol and that has sparked off a price war. It wasn’t long before Sainsbury's said that they would be introducing a petrol cut of the same with Morrisons cutting up to 3p a litre off petrol and 1p off diesel. Hanging onto the tailgate of the bandwagon was Tesco and a like-for-like cut of 2p a litre on its petrol.

This means that at Asda customers will pay no more than 133.7p a litre for petrol and 137.7p for diesel.

Mark Todd, petrol director for Morrisons, said: "Further falls in wholesale prices mean we can pass savings on to customers and continue to offer some of the lowest prices on the market."

Over the past few weeks we have seen supermarket forecourts dropping the price of diesel due to the general lowering of the wholesale price of fuel and motoring groups have been queuing up to welcome the news. Obviously it’s good news for households and their ‘squeezed to the pips’ household budgets, but the groups have warned that there will be significant regional price variations.Edmund King, president of the AA, said: "We predicted these cuts last week, with oil down to its lowest level in a month and the pound gaining on the dollar after its recent fall. This is perhaps another glimmer of sunlight for drivers after a hard, wet, pot-holed and expensive winter of driving."

The RAC's technical director, David Bizley, said: "Certainly, these price cuts will be widely welcomed by UK motorists and it is encouraging to see that the drop in the wholesale price of fuel is being passed on. Nonetheless, it is easy to underestimate the impact that the UK's high fuel prices are having on us as individuals. Our research has shown that almost half of motorists would avoid promotion or a new job that involves more driving, and a quarter [of them] believe prices negatively affect their working life. We will continue to campaign for greater price transparency."

I suggest that we enjoy it while we can because there is always another price increase just around the corner.