Asda, Sainsbury’s and Morrisons cut petrol and diesel prices

Relief for motorists who faced record prices at the pump earlier this year

Asda, Morrisons and Sainsbury’s have all cut the price of petrol and diesel at filling stations across the UK as wholesale costs continue to drop.

Asda was first to announce plans to cut its petrol price by 1p and diesel by 2p per litre, effective from Friday onwards.

The reduction means petrol will now cost no more than £1.19 per litre, while diesel will cost a maximum of £1.30 at its 319 filling stations.

The supermarket’s senior fuel buyer, Dave Tyrer, said: “Further decreases in the wholesale market mean we are able to reduce our prices again, with Asda’s unleaded price dropped by up to 9p per litre since the end of October, and now we’re seeing the diesel price drop below £1.30 for the first time in three months.”

Morrisons and Sainsbury’s subsequently said they would match the cut starting from Saturday.

RAC fuel spokesperson Simon Williams said: “It’s great to see drivers benefiting from Black Friday too with this latest price cut at the pumps, which we now need to be followed swiftly by other retailers so the UK average price comes down.

“After so much of 2018 being characterised by rising fuel prices, it’s heartening to see prices falling just as we enter the expensive festive period.

“While this is obviously good news, it’s disappointing that it has not come sooner as the wholesale price of petrol has been falling for weeks.”

Earlier this year, UK motorists were facing record charges for fuel at the pump as oil prices hit a four-year high, compounded by the weakness of sterling against the dollar.

However the price of crude oil dropped to a 2018 low on Friday due to a global supply glut.