Petrol prices lowest in five years

If we could afford to fill the Delorean from Back to the Future we’d go back in time until petrol prices were low enough that we could afford to fill a Delorean. Fortunately we don’t have to.

Today Tesco, Asda and Morrisons have all announced that they’re cutting petrol prices by up to 2p per litre, bringing prices to the lowest they’ve been in five years.

Asda – price reduced by 2p per litre, national cap set

Asda were the first to announce their cut, reducing diesel and unleaded price by 2p per litre at all their forecourts across the UK. They’ve also capped their price nationwide, meaning no driver will pay more than 110.7p per litre for diesel or 103.7p per litre for unleaded. Since September last year they’ve cut their prices by 23p per litre for unleaded and 19p per litre for diesel.

Morrisons, Tesco reduced by 2p per litre

Morrissons and Tesco quickly announced their own price cuts, both reducing their costs by 2p per litre (though the exact price will vary by region).

Price war

This new price war is sparked by the price of oil falling to a six year low. It has led to prices falling below £1 per litre at one station in Birmingham. The station on Alcester Road boasts the lowest price in the UK, and can be found on the map here (in case you live near by).

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