Supermarket giant Morrisons has slashed its petrol price to less than £1 a litre, saying that it hopes to keep the price at 99.9p for as long as possible.
With the competition heating up towards Christmas between the other major supermarkets, Asda already cut its price for three days to 99.7p and its diesel to 103.7p.
Petrol retail director at Morrisons, Bryan Burger, said: “Today, for the first time in more than six years, we are moving unleaded prices down to below £1-a-litre. This is a moment where motorists will feel some relief after being clobbered by tax and price rises for the last decade.” He also said that the average driver will save around £17 a week.
Asda, who will be cutting its petrol price for the second time this week had senior petrol director, Andy Peake comment: “We’re adding a further boost by investing in a three-day fuel price drop meaning drivers can now benefit from fuel as low as 99.7p per litre in the crucial run-up to the festive period.
“We know our competitors are likely to follow but Asda don’t have a postcode lottery on fuel, meaning no matter where customers live, they will benefit from the same fuel price at every single one of our filling stations.”
Simon Williams, RAC fuel watch spokesman, said: “Another promotional cut to enable motorists to buy petrol at under £1 will no doubt bring early Christmas cheer to many, but we would like to see this price being held for longer than three days with oil under $40 a barrel and the wholesale price of unleaded down.”
