Big retailers cut prices at the pumps

Queen’ s baby coat set to fetch £3k at auction Decision passes on fall in costs

Three supermarkets have cut fuel prices following claims that retailers were refusing to pass on a drop in wholesale costs.

Asda, Morrisons and Sainsbury’s have reduced the price of unleaded by up to 3p per litre and diesel by up to 2p.

Drivers have suffered a rise in fuel prices almost every day since the end of April despite wholesale costs coming down by around 2.5p per litre since May 24.

The RAC says recent falls in wholesale costs have been caused by the US drilling for more oil than in recent years, increased output from Russia, and speculation that Lucy Bishop holds a pink silk coat worn by the Queen as a baby in 1927, which is estimated to fetch £2,000 to £3,000 at Kerry Taylor Auctions’ Royal and Celebrity Fashion Sales. The frock will be go under the hammer alongside a pair of floral cotton dresses worn by Princess Margaret and Princess Elizabeth in 1936. oil-producing group of nations Opec will end its restriction on production.

On Monday average UK forecourt prices stood at £1.29 per litre for unleaded and £1.33 for diesel – the most expensive both have been since September 2014.

“At last retailers have done the right thing and cut prices”

Drivers will pay no more than £1.25 per litre for unleaded and £1.28 for diesel at Asda’s 318 filling stations.

It was the first supermarket to announce a price cut on Wednesday. Asda chief executive Roger Burnley said: “We know the cost of living is centre of mind for our customers and we will always do whatever we can to reduce that burden.

“Customers can trust us to lead the way when it comes to lowering the price of fuel and putting cash back in their pocket.”

RAC spokesman Rod Dennis said: “At last, retailers have done the right thing and started to cut prices at the pumps.

“We could see no justification for them holding on to savings they have been benefiting from.

“It is absolutely right that at times when wholesale prices are falling, forecourt prices follow suit.”