Fuel prices tumble as supermarket price war takes off

SUPERMARKETS have started a new pump price war by cutting 3p off a litre of fuel this week.


Reports suggest that with the typical price of a litre of petrol dipping below 130p and a litre of diesel below 135p that pump prices have not been as low since February last year.


Retailers, including Asda, Tesco and Sainsbury’s, said they were able to cut the price of petrol and diesel due to falls in the wholesale price of fuel on world markets.


However, the reduction in the cost of fuel is likely to be short lived as the Government plans to increase fuel duty by 3p a litre on August 1.


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