Morrisons Cuts Petrol Price to Below £1 a Litre
Morrisons has cut the price of petrol to below £1 a litre, the lowest UK price level, excluding special promotions, since 2009. The supermarket chain will be selling petrol at no more than 99.9p per litre and cutting diesel by 1p a litre.
The price of crude oil continues to fall, with Brent now below $40 (£26.38) a barrel – close to a seven-year low.
Other supermarkets are expected to follow Morrisons. Asda is running a weekend 99.7p promotion on petrol. From Friday until Sunday only, drivers at Asda will pay that price for petrol and 103.7p a litre for diesel.
Morrisons’ petrol retail director Bryan Burger said: “Today, for the first time in more than six years, we are moving unleaded prices down to below £1 a litre. “This is a moment where motorists will feel some relief after being clobbered by tax and price rises for the last decade.” The company said it would hold the price “for as long as possible” but that it remained subject to changes in the oil and currency markets.