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Debt problems aided by cheaper petrol?

Debt problems aided by cheaper petrol?

- Thursday, 8 July 2010

Those living with debt problems could find they have more money to spare as supermarket Morrisons has cut its fuel prices.

On July 7th, the supermarket chain reduced its petrol prices by 2p a litre for diesel and 1p a litre for unleaded.

This cut means that the 243 forecourts of Morrisons are now charging 116.3p a litre for diesel and 114.5p a litre for unleaded petrol.

Cheaper fuel prices could help those with debt problems as they will be spending less on their cars and saving money.

Asda has also reduced its fuel prices. From today (July 8th) customers will pay 112.9p for a litre of unleaded petrol and 116.9p for a litre of diesel.

Andrew Howard, head of road safety for the AA, warned that not everyone would feel the benefits of the price reduction.

He said: "Prices are subject to local competitive pressures, and although prices are likely to go down in towns where there are Asda and Morrisons forecourts, it is unlikely to happen elsewhere."

In June, AA Financial Services found that 29 per cent of consumers were cutting back on the use of their car and on car washes in order to save money.
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