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| Version 2 | Version 3 |
|---|---|
| Supermarkets move to cut petrol | Supermarkets move to cut petrol |
| (4 days later) | |
| Supermarket chain Tesco has followed Asda after saying it would cut petrol and diesel prices at its forecourts. | Supermarket chain Tesco has followed Asda after saying it would cut petrol and diesel prices at its forecourts. |
| Tesco said it would cut up to 2p per litre on diesel after Asda announced a cut of 1.5p a litre to 89.9p. | Tesco said it would cut up to 2p per litre on diesel after Asda announced a cut of 1.5p a litre to 89.9p. |
| Both firms will also cut prices of unleaded petrol - Tesco's planned cut is 1p per litre and in Asda's case a modest 0.2p to a price cap of 85.9p. | Both firms will also cut prices of unleaded petrol - Tesco's planned cut is 1p per litre and in Asda's case a modest 0.2p to a price cap of 85.9p. |
| The move follows falling oil prices on both sides of the Atlantic as the mild winter reduces demand for heating oil. | |
| A spokesperson for Tesco said: "We've seen further reductions in wholesale costs so we'll be dropping prices to pass on the benefits to our customers." | A spokesperson for Tesco said: "We've seen further reductions in wholesale costs so we'll be dropping prices to pass on the benefits to our customers." |
| Heating oil | Heating oil |
| Andy Brem, from Asda, said: "The unseasonably mild weather so far this winter has reduced heating oil consumption across Europe and the US. | Andy Brem, from Asda, said: "The unseasonably mild weather so far this winter has reduced heating oil consumption across Europe and the US. |
| "This, combined with a fall in the price of crude oil, has helped push prices lower." | "This, combined with a fall in the price of crude oil, has helped push prices lower." |
| Asda, which has 167 petrol stations, said its diesel is now at its cheapest for more than a year. Prices for diesel are normally higher during January because of its use in heating. | Asda, which has 167 petrol stations, said its diesel is now at its cheapest for more than a year. Prices for diesel are normally higher during January because of its use in heating. |
| Oil reached a peak of $78 for a barrel of US light crude in July, driven by the conflict in Lebanon and ongoing high demand spurred by China, but has since fallen as geopolitical tensions have eased. | Oil reached a peak of $78 for a barrel of US light crude in July, driven by the conflict in Lebanon and ongoing high demand spurred by China, but has since fallen as geopolitical tensions have eased. |
| Oil cartel Opec has said it will take action if prices continue dropping. | Oil cartel Opec has said it will take action if prices continue dropping. |