Supermarket Petrol Prices Dropping Today
Major supermarket Asda announced a round of petrol price cuts yesterday starting from today, which led to other leading supermarkets such as Sainsburys and Morrisons to follow suit.
The 2 pence per litre cut is due to a fall in wholesale prices and a slightly more favourable exchange rate says the AA Motoring group. This reduction comes shortly after the 2 pence per litre off diesel last week. The AA president Edmund King said “We predicted these cuts last week with oil down to its lowest in a month and the pound gaining on the dollar after its recent fall”.
This follows on from FFUK’s campaign for cutting fuel duty, after the budget declared its freeze of fuel duty back in March. The AA has argued that retailers have often failed to pass on a drop in whole sale petrol prices, whereas when wholesale prices increase it is very quickly shown in forecourt prices. According to petrolprices.com, prices have fallen from their year highest in a year in February at 146.46p per litre as crude oil dropped $4 yesterday.
For more information on petrol prices visit the FTA.co.uk.
The 2 pence per litre cut is due to a fall in wholesale prices and a slightly more favourable exchange rate says the AA Motoring group. This reduction comes shortly after the 2 pence per litre off diesel last week. The AA president Edmund King said “We predicted these cuts last week with oil down to its lowest in a month and the pound gaining on the dollar after its recent fall”.
This follows on from FFUK’s campaign for cutting fuel duty, after the budget declared its freeze of fuel duty back in March. The AA has argued that retailers have often failed to pass on a drop in whole sale petrol prices, whereas when wholesale prices increase it is very quickly shown in forecourt prices. According to petrolprices.com, prices have fallen from their year highest in a year in February at 146.46p per litre as crude oil dropped $4 yesterday.
For more information on petrol prices visit the FTA.co.uk.
