Search

Petrol prices plummet across Norfolk after row between oil producing nations

PUBLISHED: 16:13 23 March 2020 | UPDATED: 16:15 23 March 2020

Petrol prices are falling, figures suggest  Picture: GETTY IMAGES/ISTOCK

Petrol prices are falling, figures suggest Picture: GETTY IMAGES/ISTOCK

NithidPhoto

Prices at the pump have taken a tumble in Norfolk and the UK after a spat between Russia and Saudi Arabia sent them into a downward spiral.

Oil prices have been plummeting during the past few weeks as the coronavirus spreads across Europe.

But they have also been severely dented because Saudi Arabia – which produces around 10% of the world’s oil – decided to slash prices and ramp up its production in a trade war with Russia.

MORE – ‘We refuse to give up’ - owner keeps pub spirit alive after coronavirus ban

You may also want to watch:

The price of a barrel of Brent crude oil – which is measure most often used – has fallen by around 60% since the beginning of the year.

Supermarket giants Morrisons and Asda are slashing fuel prices by 12p a litre for petrol and 8p for diesel. Morrisons described it as “the biggest fuel price reduction in recent times”.

Latest government figures show the average price for a litre of fuel at UK forecourts on March 16 was 120.3p for petrol and 124.4p for diesel.

The price at the pump at Morrisons and Asda in Norwich and Great Yarmouth is £114.7p a litre, according to price comparison site confused.com. Asda Lowestoft is £114.8p. Tesco in Norwich and Great Yarmouth are selling petrol at £114.9p.

Sainsburys Thorpe St Andrew, Norwich petrol is pegged at £115.9p.

If you value what this gives you, please consider supporting our work. Click the link in the yellow box below for details.

Become a supporter

This newspaper has been a central part of community life for many years, through good times and bad. Coronavirus is one of the greatest challenges our community has ever faced, but if we all play our part we will defeat it. We're here to serve as your advocate and trusted source of local information.

In these testing times, your support is more important than ever. Thank you.

Most Read

Most Read

Latest from the Eastern Daily Press