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Politics and regulation

Supermarkets cut price of unleaded petrol to less than £1 per litre – RAC reaction

Reacting to the news that supermarkets, starting with Morrisons, are cutting fuel prices, RAC fuel spokesman Simon Williams said: 

“Although the lockdown is far from over, yesterday’s speech from the prime minister was a signal to drivers that they can begin to make more trips by car again – so credit is due to Morrisons for taking the lead and selling petrol and diesel at what is a very fair price and one that is much more reflective of what the retailer is itself paying to buy the fuel in.

“Unfortunately though there is a darker side to any large price cuts – they heap yet more pressure on smaller independent fuel retailers, who in some cases are already fighting for survival as a result of the coronavirus outbreak.

“It remains to be seen how long prices this low will persist for, with some early indications that wholesale petrol prices have started to rise as a result of the world oil price creeping up.”

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