The Scotsman: Shell enters petrol war with 4p cut: “SHELL yesterday became the latest major oil company to cut its fuel prices, falling in line with supermarkets Asda and Tesco as well as its biggest rival petrol retailers.”: Sunday 18 Sept 2005
SHELL yesterday became the latest major oil company to cut its fuel prices, falling in line with supermarkets Asda and Tesco as well as its biggest rival petrol retailers.
Prices fell by four pence in some areas after a drop in the wholesale price of oil. Shell, which has about 900 filling stations across the UK, will cut its prices by between two and four pence per litre by the end of the day, a spokeswoman said.
She added that the price cut would apply to both unleaded fuel and diesel.
Petrol giant BP was also expected to enter the fray this weekend after it announced that it was likely to make "unspecified reductions on the forecourt". Rival Esso has pledged to drop its prices too.
A Treasury spokesman said the government would not be complacent about its efforts to lower world oil prices and stabilise the market for the long term. The AA Motoring Trust also welcomed the cuts, but said UK motorists were still spending £7.5m extra per day on petrol in comparison with figures for January.
The latest news is likely to further frustrate motorists who rushed to fill their tanks at inflated prices in the run-up to anticipated protests outside refineries on Wednesday, which in the end caused no disruption to supplies.
Supermarkets Asda and Tesco were the first to cut the price of fuel by up to four pence a litre. A litre of unleaded on Asda's 158 forecourts dropped to 89.9p compared with this year's record high of 93.9p, while diesel fell to a maximum price of 92.9p per litre.
Despite the cuts, fuel protesters still caused massive rush-hour disruption yesterday as more than 100 vehicles took part in a go-slow on the M4 in Wales. Protesters hailed the event a success, but said they would return "again, again and again" until the government reduces the level of tax on fuel.
Click here to return to ShellNews.net HOME PAGE