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Dated: 08 July 2010

Petrol Price War Good News for Motorists

 

Morrison’s announced yesterday that they are going to drop the price of diesel by 2p and unleaded petrol by 1p. This seems to be the latest in a fuel price war that ASDA and Morrison’s seem to have been waging against each other since the end of May 2010.

So at present the average cost of diesel from Morrison’s is 116.3p a litre and 114.5p a litre for unleaded petrol. However, they are only going to be cheaper than ASDA for a matter of hours as stories come in that ASDA are about to drop their prices to 112.9p for unleaded and 116.9p for diesel. On top of this, ASDA are the only fuel retailer to set a 'flat national price', making it them the cheapest source of fuel in the UK according to the AA.

However there is a feeling amongst many in the motor industry that this price war is not going to reach all forecourts the in the UK. Andrew Howard, head of road safety for the AA, warned, "Prices are subject to local competitive pressures, and although prices are likely to go down in towns where there are Asda and Morrison’s forecourts, it is unlikely to happen elsewhere".

Now despite this being labelled as a ‘price war’, many drivers still pay in excess of 120p a litre for both unleaded petrol and diesel – which has the Government considering whether or not to help motorists with fuel costs by introducing a ‘fuel duty stabiliser’. This would work by setting a base price for fuel which could only be altered at the pump by 5p - higher or lower.

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