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Christmas fuel prices – some early predictions

By Sasha Davison
News entry dated 29th Nov 2017

Christmas is an expensive time of year, regardless of what is happening at the petrol pumps. The average British family will spend £821.25 on festive items such as gifts, food, drink and decorations this year. With additional expenses looming, it’s always appreciated when companies do something to make the festive period a little more manageable financially. With the supermarkets offering generous discounts on fuel over the Black Friday weekend, could we be in store for more bargain prices at the pumps this Christmas?

Black Friday fuel price wars

Over the Black Friday weekend, both Morrisons and Asda used fuel offers to win trade from those looking to save at the pumps. Morrisons launched a Black Friday offer giving customers 10p off each litre of fuel if they spent £50 or more on groceries in its stores. Meanwhile, Asda knocked 2p off each litre of fuel for all customers in its petrol stations up and down the UK.

Could this be a sign that supermarkets may be willing to cut prices at the pumps to help their customers save money when making journeys over Christmas?

Pleased to hear the news that fuel duty would be frozen in the latest Budget, Asda’s chief executive Sean Clarke said that his company wanted to do even more to help its customers save money in the lead up to Christmas. By reducing the price of a litre of both petrol and diesel by 2p, he hoped that would go some way towards alleviating the financial squeeze that many families are feeling at present.
 

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Highest fuel prices for three years

An AA spokesperson has confirmed that consumers are currently paying the highest prices for fuel in three years. In addition, there are predictions that these could rise by a further 7p or 8p per litre in the near future. This leaves motorists facing even higher costs at a time of the year when weather conditions mean that cars use more fuel to run.

This may be an even bigger shock to diesel drivers, who have recently been told that they may need to pay more road tax if their cars don’t meet certain standards. The additional taxation will contribute to a ‘clean air fund.’ This is yet another cost to add to the ever growing list of expenses for those who own older diesel vehicles.

Supermarket competition

We know that supermarkets like to be competitive when it comes to offering their customers the best deals. They will always try to encourage new customers to use their stores, so lowering fuel prices or offering fuel-based incentives could be a great way to get people to choose their shop when they buy their Christmas groceries.

If families have the option of a few local supermarkets to choose from, there’s plenty of scope for them to be swayed to spend money elsewhere. Saving money on the fuel they need for their Christmas journeys might just be the winning factor, so we could see companies battling over fuel prices for the festive season. This would be excellent news for consumers looking for ways to save money wherever possible.

Nor is it all about attracting new customers. Supermarket owners understand the value of loyal customers and know that many of their regular shoppers are feeling a financially uncertain at the moment. Reducing fuel prices rewards those regular customers just as it aims to attract new ones.

Despite offers like Morrisons’ 10p off a litre when you spend £50 in-store sounding like a great deal, it’s always worth shopping around before you commit by using the PetrolPrices app. This is especially true if you don’t normally do your food shopping in Morrisons and need to travel further than your usual supermarket to get there. Bear in mind, too, that you may end up buying more expensive products than you normally would, in order to be eligible for the deal.

The price that you pay for fuel is affected by where you live and which petrol station you choose to use, so be sure that you do your research to guarantee that you’re getting the most reasonable price in a location convenient for you. It could be that you could save a few pence per litre by simply driving along to the next petrol station, so it’s always worth checking with PetrolPrices before you fill up.

 

Would you be tempted to change the supermarket you use in order to save money on fuel? How else will you be keeping your fuel costs down over the festive season? Leave a comment below to share your plans. 

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