Morrisons have sparked a price war amongst UK supermarkets after they cut the price of petrol to below £1 a litre.
The national supermarket chain have today announced they are planning to sell petrol at the decreased amount “for as long as possible”.
That is welcomed news for motorists in the country, who are now able to take advantage of the lowest UK price since 2009.
The decision comes after the RAC predicted a drop in fuel prices due to the decline in costs that crude oil is currently facing, costing just £26.38 a barrel.
In order to keep up with the demanding competition, Asda and Tesco will follow suit to encourage customers to visit their stores over the festive period.
Over the course of the weekend Asda will slash prices to just 99.7p for a litre of petrol in a special promotion that will also see diesel at 103.7p per litre.
And although the rivalry between supermarkets is hotting up as we get closer to Christmas Day, Morrisons petrol retail director, Bryan Burger, feels it was time to give something back.
This is a moment where motorists will feel some relief after being clobbered by tax and price rises for the last decade.
Today, for the first time in more than six years, we are moving unleaded prices down to below £1 a litre.
However, with no confirmed date as to when the cheap prices will end it seems motorists will get down to petrol pumps as soon as they can.
Mr Burger added that his company plan to freeze the rates “for as long as possible” but informed it was out of their control due to changes in the oil markets.