Petrol stations across the West Midlands slashed the cost of fuel today as oil prices fell to their lowest level for a year.
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Supermarket giant Tesco said it was cutting the cost of petrol by 3p a litre across its 430 UK forecourts with immediate effect. It follows a penny cut by Asda at the start of this week, and price drops made by a host of retailers last month.
Morrisons in Wednesbury opened its new petrol forecourt in Trouse Lane today offering some of the cheapest fuel in the region, with unleaded at 105.9p a litre, and diesel at 115.9p.
Manager Jim Brice said: “We like to be competitive and always try and pass the savings on to the customers.”
Mounting fears of a global recession, which weaken oil demand, have seen the price fall in recent days.
Light, sweet crude for November delivery on New York Mercantile Exchange - the world’s benchmark price - fell as low as 82 US dollars a barrel in early trading today, the lowest price since mid-October last year.
The average price of unleaded across the UK yesterday was 109.2p a litre, with diesel costing 120.6p, according to the AA.
Petrol now costs nine per cent per cent less than the high of 119.9p seen on July 17, with diesel prices nearly 10 per cent cheaper.
At Tesco Express in Highland Road, Dudley, prices have dropped to 106.9p for unleaded and 119.9p for diesel. A month ago they were 109.9p for unleaded and 120.9p for diesel.
Prices at Mibsons in Birmingham Road, West Bromwich, dipped to 107.9p for unleaded and 119.9p for diesel, while Westcross Service Station in Oldbury Road, Smethwick shaved a penny off yesterday’s prices to 108.9p and 121.9p.
Darlaston Filling Station in Pinfold Road, Wednesbury, also cut prices today to 108.9p and 118.9p.
At Linthouse Lane filling station in Wednesfield, unleaded dropped to 107.1p, with diesel now 123.9p.
By Chris Moriarty
16 Comments
If the price of crude oil is the lowest since last October why isn’t the price at the pumps the same level as well? Motorists being ripped off by greedy fuel companies me thinks.
PS BP really stands for Bloody Pricey.
C’mon E & S! This is the 2nd time recently you have referred to these overdue price cuts as …”prices slashed “, Of course all fuel price reductions are more than welcome but is a typical measly reduction of between 1 & 3% really worthy of such hyperbole ?! Let’s see some realastic prices for our fuel and then you can get excited !
Crude Oil Dropped from $160 per Barrel $to around $80 per Barrel 50% cut!C’mon even allowing for tax surely a bigger cut is called for. No doubt the Government will slip their proposed increase in whilst the cost is going down!
Tesco have only knocked 3p off today as their 5p off vouchers (for spending over £50.00 for shopping) finish today. They are still one of the most expensive and ripping us off, along with all the other suppliers.
its still not cheap. years back when prices were near to near £1 a litre everybody protested and blocaded the refinerys. so why now when prices rocket nobody does anything? were still being ripped offa saving of 3p whats that gonna do ?
as we seen when the petrol prices rocketed a few months ago people did’nt use there cars so often so the price had to fall,if we did that again the price will fall because greedy bp shell tesco etc like there billions every year in profits.
its surely time for the genreal public to band together and boycott one of the big oil companies one at a time they will only see sense when their takings take a hit its no good just keep moaning about it they will not hand money over without a fight lets start with bp from this sunday and make it last for a week at least give it a try we have got nothing to lose
Has anybody thought to take a look at what the price of oil is in GBP(£).
It may have escaped people’s notice, but our wonderful government bailing everybody out has hit the pound significantly.
The falls in the price of oil per barrel are closer to 1/3 in GBP…and as you mention, most of it is made up in duty, so it makes sense to direct your protests towards the government and not towards oil refineries.
BP / Shell and Co. get a lot of bad press from people who haven’t taken the time to find out exactly who is creaming money off British motorists.
About time too, it’s now time for the Government to help by “slashing” tax on fuel………but don’t hold your breath because it is highly unlikely to happen
im with geoff on his idea. it worked before lets all do it again. only catch is the greedy ones will go queing at stations and fill there tanks leaving the needy with nothing for a week
It’s the tax that’s crippling not the barrel price.
This is a sham..discount? Pull the other one - Britain already pays some of the highest fuel prices. As already stated - it’s still not cheap.
Dave, your exactly right, the price of fuel isn’t that high because of the price charged by the fuel companies, its that high because of the swingeing amount of tax that our government loads onto the basic cost of a barrel of oil, the oil companies could sell oil at a £1 a barrel but if Gordon Brown loads the tax on the oil at £50 a barrel, then we will never have cheap fuel, its Gordon Brown, that’s pricing us off the road not the oil companies.
I choose to buy my diesel from Asda at Merry Hill, its about 4 miles from where I live, and people will obviously say that it costs me more money to drive there than I save on the cost of fuel, but if we all bought our fuel from the cheapest outlet all the others would drop their prices to compete with them, BP wouldn’t be able to charge 8 pence more than Asda if no one was buying their fuel.
As long as people are buying their fuel at BP garages, BP will keep the price high.
Jim of Bearwood.
It looks like lowering the petrol price a few pence, has taken the “heat” off the banking problems, and also off the Oil companies,
Y’all are squabling between yourselves while Rome is still burning.
Good-morning all!
The high price of fuel,be it liquid or gas,
has in the recent past mostly been attributed
to tax and the govt being outright greedy.
Today there are growing fuel shortages all
around the globe as China & India are fast
motorising their population,so,the price will
continue to increase!However!Cash shortage and
recession are bringing the price of crude down
again,question is,for how long.
FJ Bartling,Hilversum,Holland.
Once a lad from Dudley,never forgotten!
we can all affect fuel prices by not using our cars for short journeys,it is also good for your health to walk.when will people realise that the price of fuel rises with more demand.i am not do not use your car,we all need to make essential journeys but walk more.we all know someone who can see their kids school from their house yet choose to drive their kids to school-is this you?