The Financial Blog

Asda, Morrisons and Sainsburys are reportedly looking at dropping the price of petrol and diesel byt up to £0.05 a litre this week.

Asda was first off the mark with an annouced £0.03 a litre reduction and then Morrisons said £0.04 per litre, these reductions are off both diesel and petrol prices. Next Sainabury’s followed suit offering a £0.05 cut but only for customers who spend £50 or more in stores and this promotional offer will only run for two weeks.

The really good news in all this ‘price war’ talk is that Asda say there has been more stability in oil prices over the last few weeks. Asda trading director David Miles said: “We are seeing a more stable reduction in oil prices, allowing us to pass on the savings to customers. We urge other retailers to follow our lead at a time when customers need as much help as possible.”

Morrisons group store operations director Mark Gunter said: “The cost of crude oil and refined product has fallen in the last few days and we are ensuring our customers reap the benefit by passing on the saving quickly, for cheaper prices at the pumps.”

A spokeswoman for Sainsbury’s said: “From Thursday our customers can reap an even bigger reward because we are running a 5p off per litre promotion when they spend £50 or more in-store plus they will also earn Nectar points.”

AA president Edmund King said: “Asda’s petrol price drop is excellent news for UK motorists and we urge other fuel retailers to reduce their prices - and not only where they find themselves neighbouring an Asda petrol station.”

At last some good news and the weather is picking up too this weekend! Whatever next?!

This entry was posted on Tuesday, July 22nd, 2008 at 12:46 pm and is filed under Savings. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.