Supermarket to cut fuel prices

As long as the coalition can claim their fiscal policies are successful on the back of ripping off motorists the multitude of excuses of why the fuel price is high will continue. The regulator has as much teeth as a parrot. the only increase in energy is in developing excuse for profiteering.

It's a very emotive subject but one which is bedeviled with misinformation. The crude oil price does fluctuate quite wildly, in late 1998 it approached $10 per barrel and in May 2008 it attained the worryingly high price of $147. However, for us in the UK another factor needs to be considered and that is the $/£ exchange rate. A weak pound or a strong dollar or both simultaneously has a detrimental effect on our buying power to acquire oil. The old chestnut of why does road fuel's price not drop in line with commensurate falls in the price of crude? Well, largely it does, although the effect of this fall is massively diluted because of the large excise component which is incorporated into petrol and diesel's retail price. Currently there is almost 60 pence levied by the government on every litre, and that along with the price of the fuel is subject to 20% VAT. It is this tax component which distorts the figures to the point that it appears as though there is no correlation, but there is, and it's a direct one. I know that fuel prices always makes a good story because its effects are felt by us all, but the truth is that the market is very competitive, which is why many forecourts have disappeared during the last decade. If there is something which needs investigating it's perhaps how do the supermarkets regularly sell their fuel at below cost?

How big of Asda paid £135.9 for petrol last week and also yesterday too, two stations opposite each other best thing for competition going, esso and total. Long may they compete with asda just down the road so if asda drop their prices so will these two.

Come on Coalition, listen to those who put you into office, this is now payback time! We mean Big Time! Get some in now, and give us the chance to have a future. You owe us.

The fuel price is increasing because of speculators . This should be stopped now as prices are now pushing people to the brink.

The fuel price is increasing because of speculators . This should be stopped now as prices are now pushing people to the brink.

The lowest price a barrel of oil has been in the last 52 weeks is $86. It is now about $110. The lowest price a litre of petrol has been in the last 52 weeks is £1.329. It is now £1.399.

You work it out.

fuel prices round here are up and down like a pair of ****** drawers....Big of ASDA to drop their prices.In Lincolnshire they incresed them by 1p per litre 6 times in one month....so in actual fact if they knock 3p off a litre...its still 3p more expensive

Our local supermarket did that a few months ago - when after 4 hours the shell next door didn't follow suit, they put it straight back up.

Let us hope Tesco and the other supermarkets follow Asda