The UK’s big four supermarkets have cut up to 4p per litre from the price of fuel in the latest round of a price war sparked by the fall in wholesale costs.
Asda, Morrisons, Sainsbury’s and Tesco all announced over the weekend that they were making further cuts to their forecourt prices after an initial recent round of reductions.
Asda began on Friday by announcing it was cutting 3p per litre from the price of unleaded and 4p per litre from diesel. That means drivers visiting any of its 322 filling stations will pay no more than 123.7p per litre for petrol or 124.7p per litre for diesel.
Sainsbury’s and Morrisons followed suit, offering the same savings across their forecourts, although their prices could differ as Asda is the only chain to operate a national price cap.
Tesco then announced it would cut 4p per litre from diesel and petrol at its more than 500 filling stations.
The reductions come just under two weeks after the first round of cuts, which saw all four chains reduce their prices by 3p per litre in the wake of falling wholesale costs.
David Pegg, fuel buying manager for Sainsbury’s, said: “As we head into the busy summer months we are committed to helping our customers live well for less. That’s why we’re dropping the price of diesel by up to 4p per litre and unleaded petrol by up to 3p per litre across our forecourts.”
Asda fuel buyer, Dave Tyrer said: “We’re pleased to once again lead another fuel price cut and to help our customers’ hard-earned cash go a little further.
“When filling up at an Asda petrol station you will pay no more than 124.7ppl on diesel and 123.7ppl on unleaded which will be a welcomed boost for millions of drivers.”
RAC fuel spokesperson Simon Williams said: “Drivers will be grateful that major retailers are responding to falling wholesale fuel costs by cutting the price of petrol and diesel at hundreds of forecourts.
“We felt the [previous] price cut didn’t go far enough, and this news goes some way towards charging drivers a fairer price when they fill up.
“It’s particularly significant that diesel will now start to be priced much closer to petrol, which reflects the near-identical prices between the two fuels on the wholesale market.
“Given fuel prices have been climbing steadily since February, it is important that on those occasions when wholesale prices fall significantly that this is quickly reflected at the pumps – even if that is for a relatively brief period.”
Kitty Bates consumer spokesperson at fuel price information site and app PetrolPrices.com added: “With oil prices falling even further than last week, the pump price has now started to reflect the drops we saw at the end of last month.
“Diesel drivers can also rejoice, as diesel is falling back in line with unleaded prices, reducing the gap that has been there since Autumn last year.”