September 27th, 2016

Roaring trade as fuel price tumbles

Roaring trade as fuel price tumbles Roaring trade as fuel price tumbles
Updated: 10:08 am, May 07, 2015

A PETROL station owner is pumping money back into motorists’ pockets by selling fuel for under £1.

Hundreds of drivers are flocking to the Harvest Energy petrol station at Bransons Cross near Beoley to fill up their cars for just 99.7p per litre.

The price is five to six pence a litre cheaper than unleaded fuel being sold by supermarket giants in the area and is believed to be the first in the country to be selling petrol for lower than £1. It is the first time since 2009 motorists have been able to buy fuel at such prices.

Velautham Sarveswaran, who owns the forecourt as well others in the West Midlands, said they had seen an 80 per cent increase in custom since slashing the price on Sunday afternoon (January 11).

“People seem to be very, very happy with it. We have been consistently cheap in the area for four years now, long may it continue.” he added.

Although supermarkets have yet to catch up with Mr Sarveswaran – with the price around Redditch between 104.9 and 105.9 a litre – with the cost of a barrel of oil continuing to drop the RAC expects petrol stations across the UK to follow his lead sooner rather than later.

Simon Williams, RAC fuel spokesman, said: “If the current oversupply situation remains then it will clearly be good news for motorists and businesses that rely on the road network.

“With the United Arab Emirates energy minister saying OPEC will not cut production even if oil falls as low as $40 a barrel, we have every reason to think petrol at under £1 early in 2015 is a very real prospect.”