Petrol prices fall to below £1 per litre

Fuel Prices
Petrol prices have been cut to below £1 a litre for the first time since 2009.

Morrisons announced the price change, making the supermarket the first retailer in the country to offer the fuel price unconditionally.
Other retailers are expected to follow suit, with Asda already running a weekend-only deal, offering petrol at 99.7p per litre and 103.7p per litre for diesel.

This recent change comes in the wake of fall in the price of crude oil, which has now fallen to £26.38 a barrel – close to a seven-year low.

Diesel prices are also set to fall by around 5p, taking the average price to 104p.

Morrison's petrol retail director Bryan Burger told the BBC: "Today, for the first time in more than six years, we are moving unleaded prices down to below £1 a litre.

"This is a moment where motorists will feel some relief after being clobbered by tax and price rises for the last decade."

Morrisons has said that it will try to hold the current fuel price 'for as long as possible', but warned drivers that changes could come in should the price of oil begin to rise.

The fall in price comes in just before the busy Christmas period, with retailers attempting to maximise the amount of customers that visit their stores. Though a welcome relief for drivers, the fall in price represents an on-going problem for the oil industry.
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