DRIVERS could be set for a happy new year at the petrol pumps after fuel prices were slashed again today.
Supermarkets Asda, Morrisons and Tesco all announced they were cutting the cost of petrol by 2p a litre in a move which has been welcomed by drivers and motoring groups.
The cost of a litre of unleaded at Tesco, in Hartlepool, today was 108.9p, while neighbouring supermarket Asda charged 107.7p a litre.
At Morrisons, drivers were paying 107.9p a litre.
Pensioner Albert Armstrong, 83, who has been driving for decades and lives on the Headland, in Hartlepool, was filling up his car at the Morrisons petrol station, in Clarence Road, Hartlepool.
He said: “If they dropped it another few pence then it might make a difference, but I suppose it even going down this much is a good thing because the price of oil has been going down for a long time and we have never received the benefits of it.”
And 68-year-old Geoffrey Mathwin, 68, who was also getting fuel from Morrisons, added: “I think the price drop should be more to a price where they aren’t making a massive profit.
“It’s not a lot of difference when you work it out. I’ll maybe save 30p, if I’m lucky.”
Fuel prices have regularly fallen since September, and the Automobile Association (AA) said the supermarkets were responding to competition and a fall in wholesale fuel prices.
Crude oil trading prices have also fallen dramatically.
On Monday, the average pump price for unleaded petrol hit 113.7p per litre, its lowest since March 2010.
But drivers have been warned not to expect prices to drop to as little as £1 a litre too soon.
AA spokesman Luke Bosdet said: “The UK average price for petrol is currently around 113p per litre.
“However, just how far it falls is anyone’s bet. Current indications are that the magical £1-per-litre average price across the UK is still looking unlikely in the short term.”