Britain’s big four supermarkets have dropped their petrol prices by 2p a litre as they compete for drivers’ custom.
Asda was the first to announce the reduction, saying it would mean customers paying no more than 113.7p per litre for unleaded fuel. Morrisons, Sainsbury’s and Tesco quickly followed suit with their own 2p per litre reductions. Diesel prices are not affected by the change.
The cut is the second in recent weeks after the big four supermarkets dropped their prices last week. Despite the most recent forecourt reductions the supermarkets and other fuel retailers are still being urged to do more to reflect a drop in wholesale prices.
Last month the wholesale price of petrol fell by 6p per litre but, according to RAC Fuel Watch, the national average cost rose 1p per litre.
RAC fuel spokesman Simon Williams said: “A day after we called for a price cut it’s encouraging to see the supermarkets have responded by taking 2p off a litre of unleaded. Despite a similar cut in late September the conditions have been right for a further reduction for nearly two weeks so it’s a shame in the interests of price transparency this hasn’t come sooner.
“What motorists need now is for every petrol retailer, large and small, to do the same to bring down the average price from 119p a litre to 117p. Looking at the wholesale petrol market there are good signs that prices could go lower still.”
While the wholesale price of petrol has fallen that of diesel has remained static, making it unlikely that diesel drivers will enjoy any similar price drops.
September data from RAC Fuel Watch showed that fuel prices were at their highest since March, with petrol at an average of 119.19p and diesel at 120.31p.