Petrol drops below £1 a litre for the first time since 2009

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Filling car with petrol

 

Motorists across the UK have been treated to an early Christmas present as the price of unleaded petrol has dropped below £1 for the first time since 2009.

 

Morrisons is the first supermarket to announce that it will be selling unleaded petrol at its forecourts for no more than 99.9p per litre. In addition, they will also cut the cost of diesel fuel by 1p per litre.

 

Asda has also taken action to drop its fuel prices for this coming weekend; Friday 11th to Sunday 13th December. Asda’s promotion will consist of selling unleaded petrol for 99.7p per litre and diesel for 103.7p per litre.

 

It is predicted that the other large supermarket chains will soon follow suit to take combative action to drive footfall during the bumper Christmas period. However, time will tell if the average price of unleaded is able to creep below the £1 mark.

 

Morrisons, Asda and other leading supermarkets have greater control over fuel prices thanks in large to the drop in the price of crude oil. Earlier in the week Brent crude oil dropped below $40 (£26.39) a barrel almost matching a seven year low.

 

Gone are the dark days when you had to hold back tears filling your up car at the pumps. Let’s pray that this trend continues and we see cheaper fuel in 2016!

 

In other news…

 

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