How low will they go? Big four supermarkets announce petrol price war

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Four of Britain’s biggest supermarkets have announced they are cutting prices at the pumps.
The price war is good news for consumers and for businesses, who are struggling with rising costs amid falling sterling values.
The UKs biggest grocers say they are planning to take 3p off the price of a litre, with some having already implemented the cuts.
It comes as Chancellor Philip Hammond is facing demands to freeze the duty on fuel in his Autumn statement.
Asda led the way with price reduction announcements, promising that it would charge motorists no more than 110.7p per litre for unleaded and 112.7p per litre of diesel at its petrol pumps.
That led to similar moves from the other big three supermarkets; Tesco, Sainsbury’s and Morrisons, which said they would all be cutting to the same levels.
Analysts are now predicting that petrol costs could drop even further if there is a price war in the lead up to the festive season.
The fall in fuel prices come as petrol and diesel costs were blamed for inflation levels having fallen by just 0.1 per cent to 0.9 per cent. While the cost of other goods, including clothing fell, fuel costs remained high.
Latest government statistics found that average fuel costs stood at their highest levels since last July, with motorists paying 116.6p per litre for their petrol and 119p per litre for diesel.
Prices have gone up after the value of the pound fell following June’s referendum.
A group of 50 MPs have now joined forces to ask Mr Hammond to cut, or at least freeze, fuel duty in the Autumn statement.
The MPs, including six government ministers, have penned a letter to Mr Hammond to say that customers and business owners deserve a fairer deal at the pumps.
Meanwhile, their calls have been backed by motoring organisation, including the RAC, which wants the Chancellor to freeze fuel duty.
While the RAC welcomed a reduction in petrol costs, it also said the cut had come too late, given that oil prices have been dropping for two weeks. The decrease in prices should have been passed on earlier, it said.
Edmund King, the president of the AA, said that while the reduction in prices would “take some of the sting out of the high pump prices,” there was a likelihood that costs would go up again before the end of the year.