3p off a litre of petrol as Asda sparks price war

THE UK’s ‘big four’ supermarkets have slashed petrol prices, delivering a boost to millions of drivers.

Asda was first to make a move, cutting the price of unleaded by up to £1.65 a tank and piling pressure on its rivals.

It reduced the maximum price of a litre of petrol by 3p to just under £1.23 yesterday morning, with immediate effect, following a fall in wholesale prices.

Diesel will remain the same price, around £1.27, as wholesale costs have remained more static.

Tesco then cut petrol prices by up to 3p a litre with immediate effect. Sainsbury’s quickly fell into line, but said that drivers will not benefit until tomorrow.

Asda senior fuel buyer Dave Tyrer said: ‘With wholesale costs falling, we’re pleased to be able to pass the savings on to customers.’

Morrisons is currently offering 5p off per litre of diesel or petrol to customers who spend £40 or more in-store. The supermarket also said the price of unleaded will go down by up to 3p today.

Average UK petrol prices have remained at around £1.28 per litre since mid-July, while diesel stands at £1.32 per litre.

Neil Greig, of motoring group IAM RoadSmart, said: ‘This is good news for Scottish drivers.

‘But it may be a case of enjoy it while you can because oil is paid for in dollars and the weak pound will be sending prices back up

‘Good news for Scottish drivers’

again, while there is also the uncertainty around Brexit.

‘While the price reduction is very welcome, it’s important that the supermarkets introduce nationwide price reductions. Asda has a policy of ensuring prices come down everywhere – whether you’re in Inverness or Dumfries – but it appears that you can get variations in prices with some of the chains, so it’s important that it’s introduced across Scotland.’

RAC fuel spokesman Simon Williams said: ‘This is a very welcome but long-overdue cut.

‘Drivers have been paying more than they should have for weeks due to savings in the wholesale price of petrol, which retailers have failed to pass on until today.’

Mr Williams predicted the average cost of unleaded will fall from £1.28 to £1.25 in the next week or so as supermarkets cut prices.

This would save drivers £1.65 on filling up an average 55 litre tank.

The fall in wholesale prices last month was triggered by a 5 per cent drop in the price of oil.

Campaign group FairFuelUK has estimated that drivers are overcharged by £23.5million a month because petrol retailers fail to pass on falls in wholesale prices.

It estimated earlier this year that drivers are overcharged by at least 6p for every litre of fuel bought, and potentially more for diesel.