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Petrol price cuts as supermarkets slug it out
The petrol price war between three leading supermarkets continues as a further price cut by Asda prompts Tesco and Morrison drop their rates.
In what will prove to be good news for bikers, Asda reduced the cost of fuel by two pence a litre on petrol and four pence a litre on diesel. The fastest response to the move came from Morissons, which quickly announced that it would match Asda, bringing prices to 111.9 pence a litre for petrol and 124.9 pence a litre for diesel. Tesco was slower off the mark but eventually announced that it too would offer the same as its two competitors.
However, the firm added that it would adjust its rates according to local competition. Sainsbury's is expected to cut its costs to compete with the other three supermarkets, but the company is taking a little longer to consider its options. Adrian Tink, motoring analyst at the RAC, commented: "It's great to see another cut in petrol prices - it proves it can be done - so let's hope the other retailers follow suit as quickly as possible. He added that motorists could spend £5 less on a tank of fuel than they did last week.
Despite fuel prices being high, bikers should not skimp on motorbike insurance as it may result in heavy fines up to £5,000.
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