Drivers have the chance to save cash at the pumps thanks to a new partnership between Barclays and Tesco. The bank and supermarket are offering motorists cashback on fuel purchases between May 1 and July 31. Barclays customers will be able to get 5% cashback when buying petrol or diesel between £5 and £200 at Tesco filling stations.
The bank confirmed that the cashback will be capped at £10 per customer per calendar month and will depend on the date of purchase, rather than when the cashback is received.
It comes as petrol and diesel prices remain high following an increase in fuel prices stemming from the Iran war. According to RAC, drivers are paying around 157.17p per litre for unleaded, and 189.23p for diesel.
Despite a slight drop in prices, motorists are still paying higher prices than they were before the conflict in the Middle East. In fact, some drivers are paying the highest prices seen in the UK since Russia’s invasion of Ukraine in 2022.
Barclays and Tesco have teamed up to launch the cashback scheme ahead of the May Bank Holiday, as many motorists are expected to be hitting the roads for during the extra-long weekend.
Tesco UK chief executive Ashwin Prasad said: “Thanks to our partnership with Barclays, Tesco shoppers across the country will now be able to get cashback when they fill up their tank at Tesco using their Barclays debit card.”
According to RAC Fuel Watch, Tesco has the second lowest average petrol price, and the cheapest diesel price, out of the ‘Big Four’ supermarkets, which include itself, Asda, Sainsbury’s and Morrisons.
Vim Maru, chief executive of Barclays UK, said: “Through our partnership with Tesco, we’re able to offer savings on fuel at a time when costs are rising, helping customers make their money go that bit further.”