Finally some good news for drivers; four major supermarkets have reduced their fuel prices for the second time this month following a drop in the wholesale cost.
Tesco, Sainsbury’s, Morrisons and Asda have announced cuts of two pence per litre. These price reductions are on top of those announced earlier in March and together they have taken around six pence per litre off the cost of petrol and diesel at the pumps.
Fuel market experts say the cuts follow a decline in wholesale fuel prices over the past few weeks, partially affected by an increase in fuel from fracking in the United States which has caused a glut in the market.
All retailers should now lower fuel costs
Simon Williams, fuel spokesman at motoring group the RAC, said all retailers should now look to lower their prices.
Mr Williams said: “We were at the point where motorists should have been starting to feel aggrieved that pump prices were higher than they ought to be. The last thing retailers need is for the public’s trust in their pricing policies to be undermined.”
He concluded: “We strongly urge other retailers, large and small, to follow suit and bring the price of petrol and diesel down around the country.”