Fuel prices hit three-year low

Fuel-filling-upPetrol and diesel prices have fallen to levels last seen in February 2011 with the average price of petrol now dipping below 130p a litre. 

The AA reports the average price of diesel is 133.5p per litre, and that both petrol and diesel now cost 8p a litre less than this time last year.

Cheaper fuel prices are a result of falling crude oil prices but extra decreases have been triggered this week by a mini supermarket price war. Asda moved first with Sainsbury’s and Tesco quickly following.

Asda has actually capped fuel prices nationwide, meaning petrol costs 124.7p per litre and diesel costs 128.7p per litre at every single one of the supermarket giant’s 211 filling stations.

The AA says Asda is the cheapest place in the UK to buy fuel; then it’s Morrisons, Sainsbury’s and Tesco (but the other supermarkets are roughly similar in price).

On the other hand, BP is the most expensive fuel retailer in the UK.

British fuel prices may get even cheaper in coming weeks, adds the AA: prices in Europe have fallen more quickly in Europe due to falls in the wholesale price of oil.

Paul Watters, head of public affairs at the AA, said: ‘The UK has been left lagging behind other European countries”.

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