Gordon Brown has today announced that petrol retailers must slash their prices, as they ignore the fall in oil prices and charge their customers way too much to fill up their vehicles.
The two leading supermarkets in the petrol war are Asda and Morrison’s, who have both dropped their prices to below £1 per litre. The prime minister who has no power to force a cut in the cost of fuel has demanded that garages should follow the lead of Asda and Morrison, especially as some of the garages are still charging up to £1.20 a litre.
Since July, when the cost of fuel was peaking at around $120, it has fallen to $80 a barrel which is still high, but a great drop should be reflected in the cost of petrol, especially as when the prices rise, the cost of petrol shoots up within days.
The current average price is 107p a litre but there is a large variation across the country.