RAC fuel spokesman Simon Williams welcomed the move by Morrisons supermarket to cut fuel to under 100p a litre, but had a warning.
“Unfortunately though there is a darker side to any large price cuts – they heap yet more pressure on smaller independent fuel retailers, who in some cases are already fighting for survival as a result of the coronavirus outbreak and iIt remains to be seen how long prices this low will persist for, with some early indications that wholesale petrol prices have started to rise as a result of the world oil price creeping up.”
In Germany, Volkswagen is offering sales initiatives to revive demand as consumer uncertainty risks choking factory restarts.
The automaker will offer improved leasing and financing terms and payment-protection insurance in case buyers lose their jobs, VW said Monday.
French carmakers must bring more production back to France if they want government support for the struggling industry, the finance minister said on Monday.
Finance Minister Bruno Le Maire will meet car maker s this week and gtell them, “We are ready to help you, we are ready to improve incentives for new cars, we are ready to look at what can improve your competitivity at French production sites. In exchange it’s going to be what’s your relocation plan? That’s how we will build a stronger automobile industry.”