Petrol, diesel prices cut |
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Published
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Fri, 16 Sep 2005 16:05
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LONDON: At least two supermarkets -- Asda and Tesco -- have announced reduction in the price of petrol following fall in the wholesale price of the fuel. While Asda said it is cutting the price at its 158 filling stations 4 pence a litre, Tesco said it will also effect a similar price cut across its 380 petrol stations.
The price of a litre of unleaded petrol at the two supermarkets is now at 89.9 pence. These reductions are the first after fuel costs were hiked following the unprecedented increase in the price of crude oil after Hurricane Katrina damaged the drilling installations in the Gulf
of Mexico.
The price of diesel too has been brought down to 92.9 pence a litre.
Oil producer Esso said it is lowering its U.K. petrol and diesel prices by 4 pence a litre, while British Petroleum said it is reviewing the prices although it is also expected to follow suit.
Meanwhile, Britain was gearing for go-slow protests by people against the price hike. The rumour about the uncertainty about the protests led to panic buying by motorists in the last couple of days. They are now losers in the wake of the price reduction.
Drivers had queued at some filling stations on Tuesday as supply disruption fears grew, even though retailers assured them that there are no problems. There were reports in newspapers that the protests may ultimately lead to a situation that occurred five years ago, when demonstrators brought the country to standstill by blocking activities in the oil refineries.
A Tesco spokesperson said there are absolutely no supply problems and there is no need to change the buying patterns.
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