Mercadona is ahead of the competition and reduces a liter of fuel to less than 7 euros

2024-08-22 14:20:24

Wednesday, August 21, 2024 | Updated 22/08/2024 04:20

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The supermarket chain Mercadona has again lit the fuse of the price war in the distribution sector, this time with olive oil as the protagonist. From this Wednesday, the company has reduced the price of a liter of the Suave and Intenso varieties down to seven euros, moving it to 6.95 euros. This latest cut is in addition to the one made in July and represents a 25% cut so far this year.

Mercadona’s decision, which extends to one and three liter formats, takes place in a situation of relaxation of prices in wholesale markets, thanks to the expectations of a better agricultural campaign, with a good harvest seen earlier. This situation has led large distribution chains to adjust their margins and pass on price reductions to customers. In the case of the Valencian supermarket chain, the 3-liter format is now available at 19.85 euros (down from the previous 22.76 euros). Furthermore, Mercadona assures that this downward trend will also extend to Virgin and extra-virgin varieties of olive oil.

The price of fuel in supermarkets

Carrefour leads the list of chains with the highest price per liter, followed by El Corte Inglés, Ahorramás, Día, Alcampo, Más and Lidl. As for white brands, Supercor is the most expensive, followed by Eroski and Dia.

The price war in the food sector has increased as inflation has started to decrease in recent weeks, with the price of the shopping basket reaching the lowest rate in 32 months. Major distribution groups and manufacturers are reviewing prices. they are highly competitive, although the sector has recorded a significant increase in its margins in recent months.

The government, for its part, has reduced the VAT on olive oil to 0% until the end of September and has announced that this product will be part of the basic food basket from 2025. The measure aims to make it cheaper and lower the price. of the shopping basket, which grew by 10.1% last year, according to the Food Consumption Report in Spain published by the Ministry of Agriculture, Fisheries and Food.

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