Good news for motorists as petrol prices fall up to 3p a litre

Petrol price falls follow last week's drop in diesel (Getty)

Good news for motorists - Asda is slashing the price of fuel by 2p from today at its 217 petrol stations.

It will reduce the price nationwide to no more than 133.7p a litre, a cost guaranteed by the supermarket chain’s price cap.

Sainsbury's has also announced a petrol cut of up to 2p a litre from tomorrow at its 280 forecourts while Morrisons is cutting up to 3p a litre off petrol and 1p a litre off diesel.

The fresh reductions follow supermarket cuts last week to the price of diesel.

Mark Todd, petrol director for Morrisons, said: "Further falls in wholesale prices mean we can pass savings on to customers and continue to offer some of the lowest prices on the market."

But Asda’s petrol trading director Andy Peake accused rivals of ripping drivers off by not introducing a price cap so that they charge different pieces at different petrol pumps.

“Some of our competitors have postcode lottery pricing which means prices can vary across their forecourts by up to six pence per litre,” he claimed.

AA president Edmund King said: "With oil down to its lowest level in a month and the pound gaining on the dollar after its recent fall this is perhaps another glimmer of sunlight for drivers after a hard, wet, pot-holed and expensive winter of driving.”