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Unleaded petrol below £1 a litre | Unleaded petrol below £1 a litre |
(about 3 hours later) | |
The average price of a litre of unleaded petrol has dipped below £1 for the first time in almost a year, figures suggest. | The average price of a litre of unleaded petrol has dipped below £1 for the first time in almost a year, figures suggest. |
The price, calculated from a study of petrol stations across the UK, has hit 98.63p while diesel has fallen to 111p, Experian Catalist said. | The price, calculated from a study of petrol stations across the UK, has hit 98.63p while diesel has fallen to 111p, Experian Catalist said. |
The last time a litre of unleaded fell below £1 was on 5 November 2007. It reached a peak of 119.7p on 17 July. | The last time a litre of unleaded fell below £1 was on 5 November 2007. It reached a peak of 119.7p on 17 July. |
The plunging price of oil has prompted a petrol price war among supermarkets. | The plunging price of oil has prompted a petrol price war among supermarkets. |
On Friday some supermarkets, including Tesco and Asda, cut pump prices further while Sainsbury's and Morrisons also reduced prices. | On Friday some supermarkets, including Tesco and Asda, cut pump prices further while Sainsbury's and Morrisons also reduced prices. |
Petrol company Total followed suit by slashing its own prices. | |
Industry observers say that supermarkets can afford to sell fuel at a loss to try and lure customers into their stores - a luxury they argue that independent retailers cannot afford. | Industry observers say that supermarkets can afford to sell fuel at a loss to try and lure customers into their stores - a luxury they argue that independent retailers cannot afford. |
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