UK fuel prices take a tumble

Whilst the nations’ car fans are hot stepping it to the British Motor Show this week, something’s a foot on supermarket’s petrol forecourts that’s grabbed our attention.

The first, tentative signs of a possible all-out fuel pricing war - that given the chance would make all our summers sizzle - has been noted in recent days, with Asda calling the initial shots according to observers.

The first exchanges were instigated when Morrison’s was quick to announce that it would undercut Asda’s 3p cut in fuel by a further penny for those visiting any one of its 285 pumps, in the sort of tit-for-tat salvo that could pre-empt other retail chains to follow suit.

Asda started the ball rolling on Tuesday, stating that the price cutting would come into effect on all of its 170+ forecourts across the UK, regardless of where its customers lived and the prices noted by local competitors.

On the back of this move alone, the national price of unleaded fuel dropped to 113.9 pence per litre at Asda, with diesel falling to 128.9 pence per litre.

We didn’t have to wait long, as shortly afterwards Sainsbury’s tried to get one up on rivals Tesco, by offering its trolley pushers who spend £50 quid or more some 5 pence off every litre of the old motion lotion too.

With more thunder likely to be stolen from the UK’s leading supermarket chains as the days go on, it’s Britain’s fed-up and hard-up motorists who could really cash in as the battle intensifies.

For the first time in months the price of a barrel of crude oil has fallen in recent weeks, from its recent peak of £74 to £65. And as one of the above grocers likes to tell us – every little helps.