UK: Morrisons to spark fuel price war with £1 offer

British supermarket chain Morrisons will slash the Price of petrol to £1 a litre across its 333 gas stations in the UK.

"Prices have been hovering above the £1 mark for months now. We have seen oil prices also continuing to fall this week and that means that headline fuel prices could continue to fall,” said Bryan Burger, Morrisons petrol retail director.

Morrisons has stated its intention of offering motorists fuel for under £1-a-litre if oil prices continue to decrease, reported Western Gazette.

After witnessing a supermarket price war between Asda, Tesco, Sainsbury´s and Morrisons during the summer, this move is likely to spark similar cuts among competitors.

Current prices in the UK have averaged £1.08 for unleaded and £1.10 for diesel.