UK supermarkets cut petrol and diesel prices

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Fuel prices have experienced their biggest weekly decline since the current records started, according to the figures.

Government data showed that the average cost of a liter of petrol was £ 1.12 on Monday, compared to £ 1.20 seven days earlier.

Diesel rose from £ 1.23 to £ 1.19 over the same period.

Some retailers even valued their gasoline at less than £ 1 per liter.

This is the largest weekly drop in cash and percentage for both types of fuel in the records dating back to June 2003.

Supermarkets Asda and Morrisons cut fuel prices by 12p per liter for gasoline and 8p for diesel last week.

The last time the average price of gasoline was cheaper was in October 2016, while diesel was at its lowest price since August 2017.

The fall was caused by falling oil prices in the past few weeks since Covid-19 moved to all of Europe.

They were also badly damaged when Saudi Arabia, which produces about 10% of the world’s oil, decided to cut prices and increase production in a trade war with Russia.

Oil prices fell to an 18-year low on Monday after the Saudis announced plans to increase oil exports to 10.6 million barrels per day from May, an increase of 6%.

The price of a barrel of Brent crude oil, the most used measure, has fallen by about 64% since the start of the year.

It rebounded slightly by 3.1% to 23.49 dollars a barrel on Tuesday after Russia and the United States agreed to talks to help stabilize markets.

The number of motorists who can take advantage of cheaper fuel is limited, however, as the government has ordered people to go out only for health, health reasons or to go to work if they cannot work home.

AA fuel price spokesperson Luke Bosdet said, “Pump prices are starting to reflect falling costs, but there is still a long way to go before they come down.

“Lower prices at the pump are no excuse for people with cars to break the lock and drive unnecessary trips. But they do offer welcome news to boost the morale of drivers. “

RAC Foundation Director Steve Gooding said: “The main beneficiaries will be the key workers who will continue to drive while the rest of us will keep travel to a minimum. “



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