Morrisons reduces price of diesel to under one pound
It just goes to show that competition is the best way to induce price reductions across the UK with news that Morrisons has today cut the price of diesel to under one pound a litre. This is the first time diesel has been under one pound a litre for many months and has been welcomed by diesel users across the UK. This will no doubt induce a competitive edge amongst the major retailers in the UK as they are rumoured to use petrol and diesel as a very useful entry point to attract customers.
For many years diesel had been much cheaper than petrol although over the last couple of years this phenomenon has changed due in part to a rise in the price of diesel on the wholesale market and the ever increasing number of diesel cars on the market. Commonly used in agriculture and business, any reduction in the price of diesel is likely to lead to cost reductions for many businesses which will be gratefully received at this point of the economic cycle.
Petrol has also come down in price of late and is now below the 90p a litre mark which is substantially down on the earlier highs in 2008.
Share this..
Related stories
US banks hit for six by new government penalty fees
US banking giants have reacted with fury to today's announcement from president Obama that he will be trying to push through a "financial crisis responsibility fee" which could cost some of the US's largest banks as much as $2 billion a year. The proposed fee is intended to ensure that taxpayers in the US are repaid the $117 billion which the US government is expected to lose from the bailout of t...
Read MoreEnergy providers take on Ofgem
The scene is set for a major battle between Ofgem, the energy regulator, and the army of UK energy companies. Ofgem has today accused energy companies across the UK of increasing their profit margins at a time when customers are struggling to make ends meet and indeed wholesale energy prices are falling. The regulator estimates that gross margins are now £170 for each dual fuel customer against a...
Read MoreAre you aware of the increased threat of ID theft?
While consumers in the UK have been concentrating on their own finances it would appear that a number have taken their eye off the ball with regards to ID theft. It is common knowledge amongst the authorities that ID theft is more prevalent than ever during a recession, something which has yet again materialised over the last few months. What precautions do you take with regards to ID theft?
...
Quick house sale firms warned by OFT
07/08/2013 The Office of Fair Trading (OFT) has announced three firms who target homeowners struggling to sell their properties by promising them quick sales. The firms, which have not been named as yet, could face action after it has emerged that they may be selling houses for customers for as little as half of their market value, in return for promising to sell the house quickly; sometime...
Read MoreSFO looking for talks with BAE Systems
The Serious Fraud Office has this evening offered to talk with BAE Systems regarding bribery allegations in a last ditch attempt to avoid what could be a very embarrassing court case for all players involved. As we mentioned last become, BAE Systems is being taken to court by the Serious Fraud Office (SFO) years after allegations of bribery and corruption materialised in the Middle East.