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Drivers worried about taking out Car Finance for a new car due to rising petrol costs could find their fears are eased by a price war developing among supermarkets.
Forecourt prices at Asda, Morrisons and Sainsbury's are going down after a recent slump in the price of crude oil, which could bring some relief to car loan customers battling prices of around £1.19p per litre of unleaded.
Asda is to slash prices by 3p per litre, Morrisons by 4p and Sainsbury's said it would offer 5p per litre discounts for customers spending £50 on food in its outlets.
Morrisons group store operations director Mark Gunter said: "The cost of crude oil and refined product has fallen in the last few days and we are ensuring our customers reap the benefit by passing on the saving quickly."
Tesco also said it would be reducing prices by up to 4p but would be setting prices locally.
In a further development fuel firm BP said it was also slashing costs, with petrol and diesel prices falling by an average of 1p per litre at the stations it owns, according to BBC News.
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