Supermarket pump war hots up
The UK's major supermarkets have gone to war over petrol prices, vowing to slash prices at the pumps and introduce more special offers.
Sainsbury's will offer customers 10p off every litre of fuel when they spend £60 or more in-store. The offer will run from Wednesday 29 June until Sunday 3 July and shoppers must redeem any earned vouchers in the following two weeks.
Mike Coupe, group commercial director for the supermarket, says the deal "will help alleviate some of the pressure and help reduce the weekly fuel bill".
And from today (Tuesday 28 June), Asda will cut prices by up to 2p a litre, following a 3p cut at the end of last week. In addition, the supermarket has introduced a cap on its petrol prices so that drivers will be guaranteed to never pay more than £1.327 per litre of diesel and £1.287 per litre of unleaded petrol.
"The main thing with buying petrol from Asda is that customers know they won't ever have to pay more than the cap and that they don't have to spend £30 plus on toilet roll to get an offer," Andy Peake, Asda's petrol director.
Meanwhile, Morrisons and Tesco have reduced prices at their forecourts by up to 3p per litre as of last Friday.
The price slashes have come in the wake of the International Energy Agency's announcement that it will release 60 million barrels of government-owned oil stocks in the next month to help reduce global oil prices. As a result supermarkets have been able to pass on this saving to the customers.