Fuel prices fall as big four supermarkets make 3p cuts

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Asda has announced it is capping its petrol prices at 110.7p per litre, with diesel at 112.7p from Tuesday.

These cuts were swiftly followed by its ‘big four’ rivals - Tesco cutting petrol and diesel prices by up to 3p per litre on Monday afternoon, and Morrisons and Sainsbury's making similar announcements.

The cost of fuel had already fallen slightly last week, bringing to a halt the recent steep rises. Before the supermarket announcements, Office of National Statistics (ONS) figures showed that unleaded petrol stood at 116.5 pence per litre - 0.1 pence per litre more than the previous week - with the cost of diesel similarly having dropped - by 0.1 pence per litre to 118.9 pence per litre.