Belfast Telegraph

Major supermarkets announce further fuel price cuts

Major supermarkets have announced a cut in fuel prices for the second time in three days as wholesale costs continue to fall.

Asda reduced the price of diesel by up to 3p per litre and petrol by up to 1p at its filling stations across the country.

Both fuels will be cut by up to 2p per litre by Morrisons and Sainsbury's.

On Wednesday, Morrisons, Sainsbury's and Tesco reduced the cost of diesel by 2p per litre and unleaded by 1p at all of their filling stations

RAC fuel spokesman Simon Williams said: "It's great to see the supermarkets responding to our call to pass on wholesale fuel price savings to motorists at the pumps.

"This will help to reduce the cost of driving for millions by taking the average price of petrol down from 118p a litre to around 116p - a price last seen in December."

Oil prices hovered at near five-month lows on Friday, with Brent crude falling below 47 US dollars per barrel (£36) in early morning trading amid fears over a global glut.

Morrisons services director, Roger Fogg, said: "We are responding quickly for our customers as many will be filling up at the weekend."

Asda said its petrol and diesel will cost 112.7p per litre, which will be the first time the fuels have been priced the same since last summer.

Mr Williams responded to Wesdnesday's price cuts by insisting there was "scope for them to go deeper".

He said: " Motorists need to be able to trust retailers to be transparent when they are benefiting from significant savings in the wholesale price.

"It is time to do the right thing and drop prices - otherwise they could be accused of rocket and feather pricing."

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.