DRIVERS could soon be paying less than £1 for a litre of fuel, the boss of supermarket chain Sainsbury’s has said.
As the world oil price crashes through the $50 a barrel barrier for the first time since 2009, Mike Coupe, chief executive of Sainsbury’s, has predicted that with oil prices continuing to fall petrol will ‘almost certainly’ follow.
Some supermarket forecourts are already charging around £1.05 per litre.
Mr Couple said: “We have certainly seen prices chased down, mainly by the supermarkets. You could feasibly see fuel prices fall below the £1 barrier.”
AA spokesman Luke Bosdet said if Mr Coupe’s prediction was correct, it would be the first time fuel prices were below the £1-per-litre level since autumn 2008.