Petrol prices plunge
Thursday, 16 October 2008
HOPES of a price war are building among motorists as one of Northern Ireland's leading supermarket chains became dropped its petrol price to less than £1 per litre.
It is the first time in 10 months, since last December, that the price of unleaded petrol fell to 99.9p with ASDA leading the way. Tesco has announced that it too intends to drop its prices and so motorists in Coleraine will also be hoping that rival supermarket Sainsburys will also follow suit and make it an early Christmas for drivers.
Diesel has also dropped, with drivers now paying 110.9p per litre and this latest drop means that ASDA has reduced diesel by more than 20p and petrol by 18p in the last three months.
Based on an average 55 litre tank, this means a driver will pay around £10 less to fill up than when petrol prices were at a high of 117.9p in July.
The move follows a reduction in crude oil from $143 a barrel in July to a current figure of $82.
ASDA trading director Darren Blackhurst said: "We are committed to delivering the best value to customers across the board and we review our prices daily to achieve this.
“Drivers should not be paying more than 99.9p a litre for unleaded fuel based on current oil prices. Past experience tells us that unless they live near an ASDA they still will be."
The Consumer Council has also welcomed the benchmark set by ASDA by dropping petrol prices to under £1 per litre for the first time in 12 months.
It applauded ASDA's policy of providing all its customers with their best price and once again called on Tesco and Sainsburys to follow suit. While this lower price is good news, analysis by the Consumer Council shows that petrol and diesel prices could be even lower at supermarkets and independent filling stations.
Eleanor Gill, Chief Executive of the Consumer Council said: "The Consumer Council and others have been at the forefront of the campaign for fair petrol and diesel prices for all consumers here. At long last those prices are falling but we believe that prices could and should still be lower.
“This news will come as a welcome relief to consumers. It comes at a time when every penny counts as consumers become more price aware.
“The Consumer Council is urging consumers to shop around, keep the pressure on and make sure they are being offered the best petrol and diesel price."
