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News - 21 May 2010
Price warfare on the forecourts
Just as petrol prices hit an all time high of £121.61 four major supermarkets became engaged in a fierce price war.
Asda set the ball rolling by announcing a price cut of 2p per litre. This announcement was swiftly followed by a similar pledge by Tesco. Tesco was able to up the ante by making an additional offer to Clubcard holders of a further 5p per litre reduction when they spent more than £50 in store.
Within a day or so of these announcements Sainsbury's and Morrisons had joined the fray with price cuts of up to 2p per litre.
According to the Automobile Association(AA) there has been a drop in the wholesale price in the last 10 days making these reductions possible but many traders are not passing the benefit on to the customer.
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