UK retailer Morrisons is to cut unleaded and diesel prices by 7 pence a litre, as prices fall to their lowest level in six years, according to reports in the UK media.
Morrisons, as reported by Express.co.uk, is set to spark a petrol price war among supermarkets by lowering the cost of filling a tank to under £1 a litre for the first time since June 2009.
With the price of oil dipping in the past week, Morrisons has moved first, ahead of its competitors, in an attempt to gain ground in the ongoing price war.
"Prices have been hovering above the £1 mark for months now," said Bryan Burger, Morrisons' petrol retail director.
"We have seen oil prices also continuing to fall this week, and that means that headline fuel prices could continue to fall. In this case, we want to give our supermarket shoppers an early chance to buy petrol below £1 a litre."
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Andrew Jennings. To subscribe to ESM: The European Supermarket Magazine, click here.
