Big supermarkets cut price of petrol and diesel

Asda has announced a national cap meaning motorists will not shell out more than 105.7ppl on unleaded and 106.7ppl on diesel across their 272 stations.

Tesco rolled out a 2p drop that came into effect from 5pm on Monday.

Sainsbury’s has also announced it will reduce pump prices for diesel and unleaded by up to 2p per litre across its 303 forecourts from Tuesday.

Last week, Morrisons kicked off the price cut by reducing the price of unleaded by 2p a litre – also cutting up to 1p a litre off diesel.

Recently, oil has hit around $43 a barrel, the lowest level since early May.

In July the RAC said the price retailers pay for fuel had been falling for almost a month but pump prices remained largely static over the same period.

They claimed there was a “compelling case” for a forecourt reduction and hoped retailers were not taking advantage of public perceptions that fuel prices would rise after Brexit.