Thursday 26 September 2013 8:28 pm

Supermarkets in fuel pricing wars

THE SUPERMARKET price war on petrol escalated yesterday, when some of Britain’s largest chains slashed costs for the second time in a matter of days and Sainsbury’s became the latest grocer to enter the fray. Asda said that it would cut unleaded petrol by 3p to 128.7p per litre and diesel by 2p to 135.7p per litre, which the firm said was its lowest price this year. Tesco continued to play tit-for-tat with Asda and said it would cut the price of unleaded fuel by 3p per litre and diesel by 2p per litre, with 5p off for customers who spend £50 or more in store or online. Meanwhile Sainsbury’s – which had previously said that its prices “remained competitive” without discounts – cut the cost of unleaded by 6p and diesel to 4p. Morrisons refused to budge, saying it “welcome[s] Sainsbury’s to the party, albeit a little late” and pledged to remain competitive. There has been pressure on supermarkets to lower their petrol prices to reflect the recent decline in wholesale prices. “This reflects the level of price reduction we have been calling for,” said Pete Williams, spokesperson for RAC yesterday. “It may only seem a small saving per tank but the overall savings really add up overtime and it’s important that the retailers pass on these savings as quickly as possible.”