Petrol prices in Asda hit the lowest in last five years as the company knocked 2p a litre off the price of petrol and 1p a liter off diesel across UK. The move, which is regarded as the first stride of a petrol price war, will force more national companies to reduce its rates. It will cost 103.7p for a liter of petrol wherein price of a liter of diesel will be 106.7p. Despite rises in oil cost, the average pump price slouched between September and October resulting a price drop from 111.16p to 109.21p for petrol. The pump price for a liter of petrol was 117.28p on June 2015.
With the new price cut, Asda is now 5p-a-litre cheaper than the average fuel rate in whole of UK and 7p less than British Petroleum, proclaiming the possibility of £1-a-litre petrol before Christmas. As a member of PM’s Business Advisory Council, Asda chief Andy Clarke is insisting on sidestepping a duty hike in next month’s Autumn Statement. The Treasury got a record income of £27billion in fuel duty during the fiscal year 2014-2015.
Mr Clarke said while talking to media persons on Mr Osborne’s requisite on 1ppl rise on diesel: “We urge the Chancellor to avoid putting more pressure on family budgets.” Commenting on this FairFuel UK movement chief Howard Cox said: “Falls at the pumps have benefited jobs. Cutting diesel emissions needs reasoned debate, not tax hikes.”
Supermarket fuel price campaigns are helping consumers ever better by adding reward card points and money off checks. Unlike in the past, when you’ll have to spend more money to get a cut on the fuel prices, the new promotions are open to all the customers. This will be benefited to lower-spending retirees and single customers.