At Sion Garage in St John, petrol can now be bought for 97p a litre and diesel for 99p a litre.
At ATF’s forecourts at Augrès in Trinity and at Maufant in St Saviour, drivers can fill up their petrol tanks for 99.9p a litre.
The drop in prices follows an unprecedented situation last month when wholesale oil prices turned negative – with suppliers running out of storage and paying companies to take it off their hands.
The shock change followed a dramatic drop in demand for petroleum products, with the Covid-19 crisis causing airlines to ground their fleets, motorists to leave their cars at home and many cargo ships to be tied up in port.
Nick Crolla, head of sales and marketing for Rubis Channel Islands – who supply Sion Garage – said his company had not yet benefitted from decreasing oil prices but had made a business decision to drop their wholesale prices amid the easing of lockdown.
He added that he hoped this would allow their associated petrol stations to offer lower prices and restart their businesses.
‘The Covid-19 situation has really affected local forecourts, with some reporting up to a 70% loss in volumes, which is a significant impact on these businesses,’ he said.
‘Our Rubis forecourts are small independent family-run sites, who have been at the centre of their community for generations. Following the easing of lockdown restrictions, we have taken the step to support our sites by enabling them to offer market leading pricing – some below £1.’
Meanwhile, in the UK, Tesco, Asda and Morrisons have begun selling petrol below £1 a litre for the first time in four years.
According to the RAC, the average UK price of a litre of petrol stands at 108.74 per litre and 114.26 per litre for diesel.
