UK: Supermarkets Fuel Price Battle
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Monday, 22 September 2008 |
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Morrisons has cut three pence of the price of petrol and diesel in a move likely to be followed by its rivals.
It was the fourth time that the supermarket chain, which has 285
forecourts across the country, has cut prices in the past two months.
This will bring its average petrol prices down to 107.7 pence a litre
and diesel to 119.2 pence.
Morrisons' rivals are expected to follow suit. Tesco, which has 430
forecourts, said it would match prices locally. The company is
currently offering a five pence off a litre for anyone who spends £50
or more in any of its stores. Sainsbury's, the operator of 246
forecourts, was last night considering its response. "We continue to
review petrol prices daily," a spokesman said.
The latest reductions came as petrol retailers denied accusations from
motoring organisations that they were not passing on the cut in the
price of crude oil to motorists.
"The price of fuel at the pump is influenced by a range of factors
beyond just the price of a barrel of oil, but despite this forecourt
retailers have still managed to reduce the cost of fuel to the motorist
at the expense of their own profit margin during recent weeks," said
Ray Holloway, Director of the RMI Petrol Retailers Association.
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