Morrisons slashes 12p off petrol cost in ‘biggest fuel price reduction in years’

Back in January, the RAC predicted that coronavirus would cause fuel costs to drop.

And it looks like this prediction is correct, as Morrisons may have just started a price war.

The supermarket has slashed the cost of a litre of petrol by 12p and the same amount of diesel by 8p.

This is apparently “the biggest fuel price reduction in recent times”, so now would be a good time to fill your tank.

Ashley Myers, Head of Fuel for Morrisons, said: "We are playing our full part in reducing the cost of living and feeding the nation.

"This reduction in fuel prices will help motorists to save money at this difficult time."

The news follows comment from RAC fuel spokesman Simon Williams back in January.

At the time, he said: "Some drivers are no doubt aware that fuel prices in the UK are affected by global events, but many will be shocked to hear the coronavirus outbreak in China should lead to the price of petrol and diesel falling dramatically.

"We urge the supermarkets, who are so influential in what drivers pay for fuel due to their massive market share, to pass on the wholesale savings they’re benefiting to motorists at the pumps, especially as they have actually increased forecourt petrol prices every day since 2 January."

"Drivers have been unfairly punished as a result of the very short-term oil price rise caused by tensions in the Middle East.

"It seems as though the big four supermarkets have been capitalising on this as the oil price has fallen steadily from a high of $69.82 on 6 January to $59.75 on 24 January.

"This is the first time oil has been under $60 a barrel since 31 October 2019."

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