Drivers of diesel vehicles have been given a boost in the wake of last week's Budget announcement, with the big four supermarkets all reducing their pump prices for the fuel in the last few days.
With the chancellor George Osborne announcing last Wednesday (July 8th) that he would be freezing fuel duty for the rest of 2015 at least, the supermarkets were quick to move and make the most of the good news.
Sainsburys and Tesco were first to move, making a 2p per litre price cut almost immediately, before they were followed on Thursday by Asda and Morrisons. This meant that all of the big four were pricing diesel at lower than they had been and the low prices continued for drivers throughout the weekend as well.
RAC fuel spokesman Simon Williams said: "This is welcome news for diesel drivers coming just in time for the summer holidays," adding that the wholesale price for diesel has been far lower than it has been for petrol for some time. This saving being passed on to drivers can only be good news.
"We believe that there is scope for at least a 5p cut in the price of diesel which will be the first time that motorists have seen diesel cheaper than petrol at the pumps in almost 15 years," Mr Williams went on to say.
The RAC believes that this is just the start of a period of good news for drivers in terms of the price they pay for their fuel. While it admitted that the supermarkets had made a 'bold move' by bringing in such drastic changes, it went on to add that further falls throughout the year are likely, bringing about a "rebalancing" that can only be good for drivers countrywide.
"We need greater transparency and a fairer pricing model for both petrol and diesel and this is likely to spell the end of the focus on petrol prices alone," Mr Williams concluded.
Posted by Danielle Barge