Asda has vowed to be the cheapest petrol provider on average across the country as customers scramble to get better deals amid a fuel crisis in the UK. When speaking to the Asda press team on Wednesday, they said their position was to be the “cheapest on average” for petrol across the country.
The supermarket used to offer a price promise on petrol, vowing to be the cheapest retailer within a three-mile vicinity when it comes to petrol prices, however this is no longer the companies’ policy. Costco may argue that they offer the cheapest petrol across the UK, and this is generally borne out when looking at price comparison websites, however the individual membership fee of £33.60 probably means that any savings are offset on average.
Petrol prices will vary depending on where you are in the country and which petrol station you're using. So it's worth looking around when trying to find the best deal when you need to top up.
Read more: Petrol to hit £2 per litre, RAC warns, and motorway services are already charging more than that
Why do petrol prices vary across the country?
Petrol prices tend to be lower in urban areas and higher in rural areas, largely due to the forces of supply and demand that exist in the wider economy. For example, a petrol retailer in a large urban environment might have to compete with several rivals within their vicinity, and so have to be more careful with their price point or they will quickly lose customers to the retailers around them.
Whereas a petrol dealer in a more rural location may be the only supplier for several miles, so can ‘get away with’ charging a higher price as they know that the customers in their vicinity have few other easy options they can turn to. Supermarkets, which tend to operate service stations near large urban populations, can also use the price of their fuel as a method of attracting customers to their location – with the hope that they will then shop in their stores as well.
Cheapest petrol prices near Newcastle today:
Costco Gateshead (167.7p)*
Asda Byker (169.7p)
Asda Gateshead Metro automat (171.7p)
Morrisons Blaydon (171.7p)
Shell Shields road (171.9p)
Sainsburys Heaton Newcastle (171.9p)
Murco Gateshead (172.9p)
Jet Hebburn (172.9p)
Esso Hadrian road (172.9p)
Jet Wallsend (172.9p)
*Costco membership required to purchase at this price. All prices listed via petrolprices.com on June 8.
