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Millions of drivers to benefit as supermarkets slash petrol prices

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Written by: Paloma Kubiak
06/11/2018
There's good news for drivers as four supermarkets announce petrol price cuts following a fall in the wholesale cost of oil.

Asda has sparked a petrol price war by slashing the price of unleaded by up to 2p per litre, taking effect from today.

As it runs a national price cap, drivers across the country will pay no more than 122.7p per litre on unleaded at its 319 petrol stations.

This is the second cut announced by the supermarket, having cut 3p per litre on unleaded a fortnight ago, meaning drivers filling up at Asda will save 5p per litre in total.

Given the 4p fall in the wholesale price of a litre of petrol throughout October, other supermarkets are also passing on the reduction.

Morrisons was quick to follow Asda’s lead, slashing unleaded by up to 2p per litre. However, the reduction takes effect tomorrow at its 336 filling stations across the UK.

Sainsbury’s has also got in on the act by cutting unleaded by up to 2p per litre, but this change will take effect from Thursday. Drivers filling up at any of its 312 petrol stations will also be able to collect one Nectar point on every litre of fuel bought.

Tesco was last to follow suit, announcing an up to 2p per litre cut on unleaded at its 500 forecourts, taking effect from this evening.

RAC fuel spokesman, Simon Williams, said this is excellent news for motorists, but sadly it’s long overdue.

“Retailers have not played fair with drivers in a falling wholesale market. When wholesale prices drop retailers should pass savings on to all motorists by cutting their pump prices sooner. This is vital to the UK average price as supermarkets are so influential in fuel retailing they need to drop their prices for others to follow around the country.

“There is also better news on the horizon for diesel drivers. While diesel has risen substantially to an average of 136.79p, and unfortunately still appears to be going up, it should now begin to reduce as the wholesale price has started to fall.”

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