Petrol to fall to £1 a litre after coronavirus forces supermarkets to cut prices

PETROL was last night on course to fall to just £1 a litre after a supermarket war.

Morrisons and Asda have slashed up to 12p off the price of fuel because of falling oil prices due to coronavirus in an unprecedented boost for drivers.

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Both supermarkets have knocked 12p-a-litre off unleaded and 8p-a-litre off diesel, in what’s believed to be the largest ever single price cut of this size.

Asda said drivers will now pay no more than 102p-a-litre on unleaded and 108.7p-a-litre on diesel when filling up.

According to the supermarket, this brings prices down to the lowest they’ve sold fuel at since May 2016.

Morrisons say on average, drivers will pay 116p-a-litre for unleaded and 118.5p-a-litre for diesel.

The new lower prices will be available in all Morrisons and Asda fuel forecourts today.

It comes after experts predicted petrol prices would be slashed to historic levels due to coronavirus.

The RAC says it’s not aware of there ever being a single price cut of this size before.

'UNPRECEDENTED TIMES'

RAC fuel spokesman Simon Williams said: “These unprecedented times are leading to unprecedented price cuts on fuel – the largest single cut from a retailer we’ve ever seen.

“The price of oil has fallen so far – down to an 18-year low – that it was inevitable that pump prices would eventually follow suit.

“These savings will directly benefit those people who continue to rely on their vehicles for essential journeys.

“It is vital however that drivers heed government advice and only travel if it is absolutely needed.”

Luke Bosdet, the AA’s fuel price spokesman, said: “Such a huge cut in pump prices is very welcome. It is one of the few bright spots in an otherwise gloomy outlook.

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“However, we urge drivers to think carefully before making unnecessary road trips that may put them in proximity of other people.”

The price of crude oil has continued to slide amid the coronavirus epidemic, with Brent crude changing hands 1 per cent lower at £23.09 a barrel at the time of writing.

The supermarkets last cut the price of fuel on March 10, knocking 2p off the price of petrol and diesel across Asda, Morrisons, Sainsbury’s and Tesco forecourts.