Petrol prices to drop further - Car Rental News
Petrol prices to drop further
Car Rental News - 21/05/2012
Motorists are breathing a sigh of relief as another drop in petrol prices was announced by a top market chain today
Motorists are breathing a sigh of relief as another drop in petrol prices was announced by a top supermarket chain today.
Officials from Sainsbury’s confirmed that the retailer would reduce the price of diesel and unleaded petrol today by 3 pence per litre. Experts say the move should trigger similar price drops from a number of petrol suppliers later in the day amid a petrol price war among major supermarket chains.
Sainsbury’s, which operates 266 petrol stations in the United Kingdom, said that the declining cost of crude oil has enabled the firm to reduce petrol rates.
Sainsbury’s fuel head Richard Crampton said in a statement that his company is aware of the cost burden that families face at the pump. He said that Sainsbury’s is committed to helping out whenever they are able, noting that it was “delighted” to pass along the savings thanks to recent reductions in wholesale costs.
The latest AA figures show that the average price of unleaded petrol has dropped more than 4 pence since April, falling from 142.5 pence per litre to 138.4 pence per litre last week. Since that time, supermarket retailers have engaged in a series of subsequent price drops, including a 2-pence reduction over the May bank holiday.
In spite of the news, the AA has said that the cost of petrol should still be an additional 2 pence lower.